Downtown Los Angeles Condos | Market Report

Let’s take a look at how Downtown Los Angeles condos fared over the past year.

For the purposes of this report I have broken the price ranges down to under $500K, $500K to $1 Million, and the over $1 Million bracket. The largest movement is in the under $under 500K category.

Market absorption indicates the amount of time it will take to sell the existing inventory on the market.  Six months is a balanced market; under six months a sellers’ market; over six months a buyers’ market.

Downtown Los Angeles Condos under $500,000 are a hot commodity, and definitely a strong sellers’ market, indicated by the low inventory.

91 of the past year’s sales were studios, which are extremely popular and hard to find, especially in good condition. 34 of these were short sales or foreclosures.

Out of the remaining 275 condos sold over the past year, 71 were either a foreclosure or short sales.

The median price has declined slightly over the previous 12 months, but the sold to list price has increased.

Los Angeles Downtown Condos Market Report

Only two sales in this category were either a short sale or foreclosure.

The media price has increased, as has the sold price to list price.

With a little over six months’ worth of inventory, the $500K to $1M Los Angeles Downtown condos price range is fairly stable, leaning slightly towards buyers.

The over $1 Million Downtown Los Angeles condo market is basically based on two buildings, the Ritz Carlton Residences at L.A. Live,  and EVO, and sales in this price range are slow, with over two years’ worth of inventory.

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(all data current as of 10/1/2014)

  1. 1 bed, 1 full bath
    Home size: 830 sq ft
    Lot size: 27,285 sqft
    Year built: 1923
    Days on market: 0
  2. 1 bed, 1 full bath
    Home size: 990 sq ft
    Lot size: 1.35 ac
    Year built: 1985
    Days on market: 1
  3. 1 bed, 1 full bath
    Home size: 800 sq ft
    Lot size: 27,098 sqft
    Year built: 1986
    Parking spots: 4
    Days on market: 2
  4. 1 bed, 1 full bath
    Home size: 1,030 sq ft
    Year built: 2007
    Parking spots: 1
    Days on market: 2
  5. 0 beds, 1 full bath
    Home size: 460 sq ft
    Lot size: 21,307 sqft
    Year built: 1923
    Days on market: 4
  6. 1 bed, 1 full bath
    Home size: 1,020 sq ft
    Year built: 2008
    Parking spots: 1
    Days on market: 5
  7. 2 beds, 2 full baths
    Home size: 970 sq ft
    Year built: 2006
    Parking spots: 1
    Days on market: 6
  8. 1 bed, 1 full bath
    Home size: 650 sq ft
    Lot size: 15,922 sqft
    Year built: 1911
    Days on market: 7
  9. 1 bed, 1 full bath
    Home size: 960 sq ft
    Lot size: 27,285 sqft
    Year built: 1923
    Days on market: 8
  10. 0 beds, 1 full bath
    Home size: 780 sq ft
    Lot size: 1.72 ac
    Year built: 2006
    Parking spots: 2
    Days on market: 8
  11. 2 beds, 2 full baths
    Home size: 2,350 sq ft
    Lot size: 17,383 sqft
    Year built: 2007
    Parking spots: 2
    Days on market: 9
  12. 3 beds, 3 full baths
    Home size: 1,535 sq ft
    Lot size: 2.44 ac
    Year built: 1968
    Parking spots: 2
    Days on market: 9
  13. 1 bed, 1 full bath
    Home size: 797 sq ft
    Lot size: 3.38 ac
    Year built: 1983
    Parking spots: 4
    Days on market: 9
  14. 2 beds, 2 full baths
    Home size: 1,309 sq ft
    Lot size: 43,252 sqft
    Year built: 1971
    Days on market: 10
  15. 2 beds, 3 full baths
    Home size: 1,509 sq ft
    Lot size: 2.84 ac
    Year built: 1982
    Days on market: 10
  16. 1 bed, 1 full bath
    Home size: 860 sq ft
    Lot size: 41,205 sqft
    Year built: 2007
    Days on market: 10
  17. 2 beds, 2 full baths
    Home size: 1,320 sq ft
    Lot size: 1.35 ac
    Year built: 1985
    Days on market: 13
  18. 2 beds, 2 full baths
    Home size: 1,063 sq ft
    Lot size: 2.00 ac
    Year built: 1985
    Parking spots: 4
    Days on market: 13
  19. 1 bed, 1 full bath
    Home size: 790 sq ft
    Lot size: 19,153 sqft
    Year built: 1910
    Days on market: 14
  20. 2 beds, 2 full baths
    Home size: 1,234 sq ft
    Lot size: 2.44 ac
    Year built: 1968
    Parking spots: 1
    Days on market: 14
  21. 1 bed, 2 full baths
    Home size: 1,090 sq ft
    Year built: 2008
    Days on market: 14
  22. 2 beds, 2 full, 1 part baths
    Home size: 1,650 sq ft
    Year built: 2007
    Parking spots: 2
    Days on market: 16
  23. 2 beds, 2 full, 1 part baths
    Home size: 1,770 sq ft
    Year built: 2007
    Parking spots: 2
    Days on market: 17
  24. 2 beds, 2 full baths
    Home size: 970 sq ft
    Lot size: 1.48 ac
    Year built: 2006
    Parking spots: 2
    Days on market: 17
  25. 0 beds, 1 full bath
    Home size: 1,810 sq ft
    Lot size: 1.91 ac
    Year built: 1923
    Days on market: 20

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Buying or Selling Los Angeles Real Estate

Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!

When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.

If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.

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For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919.

Jane Peters

Jane Peters is a Los Angeles Realtor®, specializing in absentee owners, out-of-town-buyers and those needing that extra personal touch to make the buying and selling of Los Angeles real estate a smooth and, believe it or not, fun process.

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Comments

  1. Jane, This is a wonderful report for your Downtown Los Angeles area. You certainly are my go-to LA agent for my clients and have never let me down! Your clients are very fortunate to have you sharing your knowledge along the way.

  2. Thank you very much, Debe. I appreciate it very much.

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