Coldwell Banker Reports: Top Trends Shaping The Luxury Real Estate Landscape

Boomers are Rightsizing, Not Downsizing
A significant portion of the 50-70 year old buyers are no longer downsizing to condominiums.They are downsizing to single level homes which offer more privacy than condos. They want a good master + additional bedrooms for when their kids come home.

Younger Buyers Want Large Creative Spaces
Buyers up to 40 like the the more modern contemporary “white boxes”.
Outside spaces are gaining in importance with younger buyers. Not just a pool but a living room and dining room outside plus a fireplace, wet bar & barbecue.

Manufactured Materials are increasingly Being Used & Accepted
Man-made products are mimicking natural materials in ways that provide high-end looks
with greater durability and less maintenance. Also because the quality is so improved, artificial grass is increasingly being used & accepted.

Closet Space is More Important than Ever
Large His & Hers walk-in closets are desired by today’s buyers

Dual Offices for Couples
Not only by younger buyers but also couples into their 60’s & 70’s each want an office.

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Hancock Park Estate Home Sales 2017 versus 2016

                                                                 2016                        2017            Results

Sold $3,000,000 +                             43                             53                Up 23%

Low                                              $3,030,000             $3,000,000     Close
High                                            $11,300,000           $12,412,440       Up 10%
Average Price                            $4,553,186              $4,514,600       Virtual Tie

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Five Hancock Park Estate Homes Have Sold YTD in 2018 (as of 2/19/2018)

340 S Rimpau Bl        Sold for land value + plans  19,999 Sq Ft Lot $4,200,000

101 N McCadden Pl    5B/5B 5020 Sq Ft on a 14,718 Sq Ft Lot $4,150,000

462 N McCadden Pl   5B/5B 5062 Sq Ft on a 13,443 Sq Ft Lot $3,768,000

460 S June St              4B/4B 5090 Sq Ft on a 19,951 Sq Ft Lot $3,500,000

506 S Norton Ave       4B/4B 4169 Sq Ft on a 10,650 Sq Ft Lot $3,150,000

 

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Hancock Park Estate Homes: 10 have sold YTD over 6 Million. Call Linda Hindley for Details 323 610-6070.

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148 S Wilton Place Sold 12/28/2017

4 Bedrooms, 2 Baths on Oversize Lot.

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Hancock Park Estate Home Total is up 42% for 1st 6 Months

Hancock Park Estate Homes Sale Comparison for 1st 6 Months 2017 vs 2016

                # of sales      Highest Sale        Average Cost   Per Sq Ft       Total Sales  

2016               21               $6,990,000             $4,266,404             $746           $ 89,594,500

2017               27               $9,500,000             $4,721,747               $812           $127,487,175

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2017 4th of July Fireworks at Wilshire Country Club in Los Angeles

The Wilshire Country Club’s truly amazing fireworks are scheduled for Tuesday evening July 4th at 9pm. One of the real treats in Hancock Park on The 4th of July are these spectacular fireworks offered every year by The Wilshire Country Club.

If they are as good as they were last year they are a phenomenal display. The corner where  Wilcox and Rosewood meet is a popular spot. Maybe I’ll see you there.

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