Homes for sale and lease continue to be in demand in Hancock Park/Windsor Square and surrounding areas because of our neighborhood’s quality of life, architecture and relative value. Style always sells quickly and at a premium here. This year, sales have increased 21% largely driven by quality of product available and 15+ weeks of historically low interest rates. In aggregate, prices are down 1.8% from the same time last year.
We are seeing tighter supply of homes between $1.7MM-$2.5MM and homes for lease between $5-$10k a month. There is strong demand and very few people are selling. Well priced, well located homes still garner multiple offers. Homes over $3MM typically take longer to find the right buyer. Nearly twice as many homes sold between $1MM – $1.5MM as last year. Supply continues to be limited for 2 to 4 unit buildings on the highly coveted streets of Sycamore, Mansfield and Orange.
A list of area Open Houses for today, Sunday April 29 can be downloaded here.