Housing Market overview

Marking the passage of the first half of 2018, June brought us even higher median home price, bringing it to $602,760 statewide. It was up from previous month by 0.3 percent and up 8.5 percent from June of last year. The median price is now higher by 1.4 percent that the pre-recession peak, as it has been growing for more than last 6 years.

The sales however went down in nearly every county, and it could be a sign of the market transitioning, according to CAR Senior Vice President.

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For our neighborhoods of Miracle Mile and Hancock Park, from the beginning of the year to date, brought the following:

Miracle Mile - 117 home sales, with average 53 day on market, sales price ranging from $650,000 to the highest price of $5 million. Average price per square foot was $846.

Highest sale: 424 N Flores - Sold at $5,000,000

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Hancock Park - 159 home sales, with average 53 days on market, sales price ranging from $550,000 to the highest price of $8,700,000. Average price per square foot was $769.

The highest sale was 601 S Winsor.