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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See all Downtown Los Angeles Condos for Sale.
(all data current as of 3/30/2015)

  1. 0 beds, 1 full bath
    Home size: 1,120 sq ft
    Lot size: 17,383 sqft
    Year built: 2007
    Parking spots: 2
    Days on market: 1
  2. 2 beds, 2 full baths
    Home size: 1,043 sq ft
    Lot size: 1,043 sqft
    Year built: 2005
    Parking spots: 4
    Days on market: 1
  3. 1 bed, 1 full bath
    Home size: 840 sq ft
    Lot size: 1.21 ac
    Year built: 2008
    Days on market: 2
  4. 2 beds, 2 full baths
    Home size: 1,193 sq ft
    Lot size: 1.91 ac
    Year built: 1983
    Parking spots: 4
    Days on market: 2
  5. 3 beds, 2 full baths
    Home size: 1,030 sq ft
    Lot size: 3.38 ac
    Year built: 1983
    Days on market: 2
  6. 0 beds, 1 full bath
    Home size: 1,160 sq ft
    Lot size: 42,513 sqft
    Year built: 1923
    Days on market: 2
  7. 1 bed, 1 full bath
    Home size: 1,040 sq ft
    Year built: 2005
    Days on market: 3
  8. 2 beds, 2 full baths
    Home size: 1,280 sq ft
    Lot size: 2.09 ac
    Year built: 2007
    Days on market: 3
  9. 0 beds, 1 full bath
    Home size: 780 sq ft
    Lot size: 10,334 sqft
    Year built: 1914
    Days on market: 3
  10. 2 beds, 2 full baths
    Home size: 970 sq ft
    Year built: 2006
    Days on market: 3
  11. 1 bed, 1 full bath
    Home size: 840 sq ft
    Lot size: 1.21 ac
    Year built: 2008
    Days on market: 4
  12. 3 beds, 2 full baths
    Home size: 1,030 sq ft
    Lot size: 3.38 ac
    Year built: 1983
    Days on market: 4
  13. 0 beds, 1 full bath
    Home size: 1,160 sq ft
    Lot size: 42,513 sqft
    Year built: 1923
    Days on market: 4
  14. 2 beds, 2 full baths
    Home size: 1,280 sq ft
    Lot size: 2.09 ac
    Year built: 2007
    Days on market: 4
  15. 1 bed, 1 full bath
    Home size: 1,040 sq ft
    Year built: 2005
    Parking spots: 1
    Days on market: 4
  16. 0 beds, 1 full bath
    Home size: 780 sq ft
    Lot size: 10,334 sqft
    Year built: 1914
    Parking spots: 1
    Days on market: 4
  17. 2 beds, 2 full baths
    Home size: 970 sq ft
    Year built: 2006
    Parking spots: 1
    Days on market: 4
  18. 2 beds, 1 full bath
    Home size: 1,598 sq ft
    Year built: 1924
    Days on market: 4
  19. 2 beds, 1 full bath
    Home size: 1,598 sq ft
    Year built: 1924
    Parking spots: 1
    Days on market: 5
  20. 1 bed, 1 full bath
    Home size: 990 sq ft
    Lot size: 41,205 sqft
    Year built: 2007
    Days on market: 5
  21. 2 beds, 2 full, 1 part baths
    Home size: 1,300 sq ft
    Lot size: 1.01 ac
    Year built: 2011
    Days on market: 5
  22. 1 bed, 1 full bath
    Home size: 830 sq ft
    Lot size: 1.64 ac
    Year built: 2006
    Parking spots: 4
    Days on market: 5
  23. 2 beds, 2 full baths
    Home size: 1,355 sq ft
    Lot size: 1.08 ac
    Year built: 1981
    Days on market: 5
  24. 2 beds, 2 full, 1 part baths
    Home size: 1,300 sq ft
    Lot size: 1.01 ac
    Year built: 2011
    Days on market: 6
  25. 2 beds, 2 full baths
    Home size: 1,355 sq ft
    Lot size: 1.08 ac
    Year built: 1981
    Parking spots: 2
    Days on market: 6

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

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(2) 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.

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