Submarket Snapshot: Homes in Hancock Park in Q1 2016

Luxury home prices increased by 15.8 percent

May.May 12, 2016 05:28 PM

Hancock Park’s single-family homes market saw upward momentum in the first quarter, according to a report by the Agency, which looked at homes valued at more than $1 million. 

Those homes sold for an average of $2.48 million, a 15.8 percent price increase when compared with the same period last year.

Valuations climbed nearly 14 percent to $720 a square foot, Hancock Park’s 2nd highest average price per square foot, second only to Q4 2015.

There were 15 condos worth at least $500,000 that traded hands at an average price of $646,000 and $429 a square foot.

Joey Gonzalez, the CEO of Barry’s Bootcamp recently bought a $6.95 million mansion in Hancock Park with husband Jonathan Rollo.

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