Corey123, Home Buyer in Greater Wilshire / H...

Are prices currently higher then Feb 2005 in Hancock Park?

Asked by Corey123, Greater Wilshire / Hancock Park, Los Angeles, CA Mon Feb 22, 2010

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6
Dorene Slavitz’s answer
Dear Corey,
They are not higher, but are about at 2005 levels. This is common in a highly desireable area with such strong demand.
Dorene Slavitz
Realtor
Coldwell Banker
(310)305-4264
0 votes Thank Flag Link Fri Jun 4, 2010
We recently sold 3 places in Hancock Park over $1,000,000. What is the point in comparing to 2005? The point is that history has shown that real estate values double every 10 years even with economies like this one. Right now, interest rates are low, intensives are high, and opportunity is everywhere. In some years, people who are chasing the bottom market will look back and wish they have bought during these times. For up coming properties in Hancock park email SoldbySolomon@gmail.com or call (310) 979-3798 Thanks, Solomon Team
Web Reference: http://www.larealtor4u.com
0 votes Thank Flag Link Wed Apr 7, 2010
Hi Corey,

Here's a link to the Metro L.A. page on my website which lists all of the properties currently for sale in Hancock Park. I hope this is helpful. Please feel free to contact me if you'd like to receive a current comparable sales report for the area. Best of Luck.
0 votes Thank Flag Link Thu Feb 25, 2010
2005 prices are still a good benchmark level to start with. The high end market is softer than 1,200,000 and below, reflecting a greater drop.
Deborah Bremner
REALTOR, 00588885
Certified Short Sale Professional
Certified Home Retention Specialist
(D) 818.564.6591
TheBremnerGroup@gmail.com
Blogging at: http://TheBremnerGroup.com/blog
0 votes Thank Flag Link Mon Feb 22, 2010
0 votes Thank Flag Link Mon Feb 22, 2010
Prices in Hancock Park are about at February 2005 levels (it's hard to get precise statistics from that year, since sales in the MLS prior to 2006 could be reported as $0, skewing all the data).

Median sale price in 2006 was $1,250,000, in 2007 $1,203,000, in 2008 $1,209,000 and in 2009 $880,000 -- down 27% off peak.

Read more in more Blog post about Hancock Park values below.
0 votes Thank Flag Link Mon Feb 22, 2010
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