How is the Wilshire Corridor Condo Market? 3rd Quarter 2014

Checking in on the Wilshire Corridor condo market

The Wilshire Corridor is a unique market. The average price of a condo is $1.1 Million and the turnover at that price is not large, as you can imagine. Let's see how the market performed over the last Quarter: Building Sold +/ Price/ Median Price Avg. Price Per Sq. Ft.++ Total Active Price/ Median Price Pending Beverly West* 1 +1 $6,218,000 $1,630.74 2 $6,872,500 0 Blair House 1 +1 $2,146,500 $773.23 1 $2,399,000 0 Crown … [Read more...]

What You Need to Know About The Wilshire Corridor

Checking in on the Wilshire Corridor condo market

If you are thinking of buying or renting a condo on the Wilshire Corridor there are some facts to consider. Also known as The Golden Mile, the Corridor is an approximately 2-mile stretch of luxury high-rise condominium buildings which runs from just east of Westwood Village to the west side of the Los Angeles Country Club. There are 31 of these buildings but not all of them will provide what a buyer or renter is looking for. Often people new to the area are not familiar with the prices. … [Read more...]

Wilshire Corridor Condos 2nd Qtr 2014 in Review

Wilshire Corridor condos the last month in review

Below is the market activity for Wilshire Corridor condos for the 2nd Quarter of 2014. Let's see how sales are going.   The +/- stats are compared to the 1st Quarter of 2014. Building Sold +/ Price/ Median Price Avg. Price Per Sq. Ft.++ Total Active Price/ Median Price Pending Beverly West* 0 N/A N/A $1,444.01 1 $7,150,000 1 Blair House 0 = N/A $566.46 2 $2,347,000 0 Crown Towers 0 -1 N/A $416.40 3 $659,000 1 La … [Read more...]

How is the Wilshire Corridor Condo Market Lately?

Wilshire Corridor Westwood, Wilshire Corridor Condos, Buying on the Wilshire Corridor

It has been a while since I have discussed what is going on in terms of sales and leases on the Wilshire Corridor in general. Overall movement on the Corridor is rather sluggish. Over the past six months there have been only 62 sales ranging from $359,000  at Wilshire Selby West to $3,200,000 at La Tour. The average days on the market was 82 (higher than) and the sold price vs list price was 94.09% (lower than) the average for other areas of Los Angeles,  The median price of those sold … [Read more...]

Renting on the Wilshire Corridor, Weigh the Benefits

Living on the Wilshire Corridor is a lifestyle

I often get contacted by people looking rent on the Wilshire Corridor, and sometimes feel there is a misconception of what living on the Corridor is. The Corridor is not a neighborhood, it is an approximately two-mile stretch of Wilshire Blvd. consisting of condo and apartment buildings, beginning at Malcolm Ave and ending at Comstock Ave., and its draw is the high-end, full-service buildings contained therein. However, all things are not equal on The Corridor. These are some of the … [Read more...]

Wilshire Corridor Condos 1st Qtr 2014 in Review

Wilshire Corridor condos the last month in review

Another quarter has flown by so let's see how Wilshire Corridor condo sales are doing. Have they slowed down like the rest of the Los Angeles market? The +/- stats are compared to the First Quarter of 2013. Building Sold +/ Price/ Median Price Avg. Price Per Sq. Ft.++ Total Active Price/ Median Price Pending Beverly West* 0 N/A N/A $1,444.01 3 $5,552,000 0 Blair House 0 = N/A $566.46 3 $1,050,000 0 Crown … [Read more...]

How Much Are Wilshire Corridor Homeowners Dues?

Wilshire Corridor Market Report October 2012

The Wilshire Corridor also known as the Golden Mile, is a stretch of Wilshire Blvd. from roughly Westwood Blvd on the West to Comstock Ave. on the East. It is located in Westwood  and houses some of the most exclusive and expensive condo buildings in Los Angeles. When buying a condo on the Wilshire Corridor, or in fact in any condo  building, you need to take into consideration the homeowners dues as they are going to be part of your monthly payment.  If you are getting a loan, your lender … [Read more...]

Wilshire Corridor Condos 2013 in Review

Wilshire Corridor condos the last month in review

It's time to take a look at how the Wilshire Corridor condo market performed in 2013 and compare it to 2012 activity. The figures are primarily based on 2 bedrooms units and up and do not include penthouse units.   Building Sold +/2012 Median Price +/- 2012 Avg. Price Per Sq. Ft.** Total Active Median Price Pending Beverly West* 1 = $5,506,000 N/A $1,444.01 N/A N/A N/A Blair House 9 +5 $971,000 -30.32% $566.46 4 $1,672,500 0 Crown … [Read more...]

Wilshire Corridor Condos a Market Snapshot

Wilshire Corridor condos the last month in review

As we approach the end of the year let's see how Wilshire Corridor condos are doing. What has been happening over the past month.   5 condos sold at a median price of $965,000.  6 less than the previous month. Low price - $520,000 (Wilshire Holmby).  High price - $2,030,000 (The Carlyle) 54 units are for sale at a median price of $1,279,000. Low Price - $449,000 (Wilshire Selby West).  High price - $3,995,000 (The Carlyle - resale) 14 units are under contract There were 16 new … [Read more...]

How Much Does it Cost to Rent on the Wilshire Corridor?

Wilshire Corridor condos for sale

I receive a lot of inquiries about renting on the Wilshire Corridor. And why not. Who would not want to live in a full service building with spectacular views with numerous amenities and people to park your car and take up your packages. However you will need to understand that they don't come cheap. To give you an idea of what you get for your money when renting on the Wilshire Corridor. Prices below reflect the average. $2,200 to $2,500 One bedroom Wilshire Selby West, 10751 … [Read more...]

Wilshire Corridor Condos For Sale. Market Report

Wilshire Corridor condos 3rd Qtr 2013 market report

Another Quarter has passed us by and it's time to take a look at how Wilshire Corridor condo sales did during the 3rd Quarter of 2013. The +/- stats are compared to the Second Quarter of 2013.  Median price differences are not included where there is only one sale reported. Building Sold +/ Price/ Median Price +/- Avg. Price Per Sq. Ft.++ Total Active Price/ Median Price Pending Beverly … [Read more...]

L.A. Million Dollar Views for Less than a Million Dollars

Where to live in Los Angeles

You are buying, or even renting a home in Los Angeles and you want a view. It is going to cost you $1 million to find a home like that, right? Wrong. Especially if you are looking at a condo. There are many high rise buildings all over Los Angeles that will offer you spectacular views at a price you can afford.  Not to mention all the amenities that come with those views. These are the views from a rental unit I visited today at 2170 Century Park East. 2170 is away from Olympic Boulevard … [Read more...]

Wilshire Corridor Condos. How’s the Market?

Wilshire Corridor condo sales for first half of 2012

It has been a while since we checked in on the Wilshire Corridor in terms of sales and rentals.  So let's see how sales and rentals are going. Wilshire Corridor condo sales 16 units sold in July at a median price of $778,750. The lowest price sold was $390,000 for a one-bedroom at the Wilshire Regent and the highest price was $2,995,000 at the Wilshire Terrace, the only coop building on the Corridor. Average sales price vs list price was 96.98% which is good for this luxury … [Read more...]

Wilshire Corridor Condos, 2nd Qtr 2013 in Review

Wilshire Corridor condos for sale

How did the Second Quarter of 2013 fare for Wilshire Corridor condo sales.  The first quarter was quite weak. Since the luxury market is supposed to be creeping back,  let's take a look. The +/- stats are compared to the First Quarter of 2013.  Also, since one sale does not a median price make, many of those comparisons are missing. Building Sold +/ Price/ Median Price +/- Avg. Price Per Sq. Ft.++ Total Active Price/ Median Price Pending Beverly … [Read more...]

What’s New on the Wilshire Corridor?

What's happening on the Wilshire Corridor

There hasn't been a lot of activity of late on the Wilshire Corridor, and since I often get requests from prospective buyers and tenants looking to live there it would be good to check in and see what is available. For Sale on the Wilshire Corridor Under $1 million: 1 bedrooms = 10 from $399,000 t0 $750,000 2 bedrooms = 14 from $438,700 to $975,000 3 bedrooms = 1 $499,000 $1 to $2 million: 2 bedrooms = 13 from $1,100,000 to $1,575,000 3 bedrooms = 4 from $1,249,000 to $1,999,999 $2 … [Read more...]

Which are the Best Buildings on the Wilshire Corridor?

Wilshire Corridor condos for sale

The Wilshire Corridor is a a two mile section of Wilshire Boulevard in Westwood known for its upscale high rise condo buildings. I am often asked which are the best buildings on the Wilshire Corridor?  Now that is a difficult question to answer objectively.  It ireally depends on what you are looking for in a building.  Most of them are full service, with 24/7 concierge and valet service, but there may be other features which are important to you: Probably the largest pool on the Corridor … [Read more...]

Wilshire Corridor Condos. How are They Doing so Far This Year?

Is the Wilshire Corridor Condo market favoring sellers?

The Los Angeles real estate market is heavily favoring sellers.  Prices are rising, days on the market slowly dropping, and inventory extremely low.  So let's see how the Wilshire Corridor condo market is doing so far this year.  The luxury market has started to pick up, but is still slower than the more moderately priced market. Sold:  16 - low price $350,000, high price $2,830,000.  This is 4 down from the same period in 2012. Median price:  $522,400 - down 6.71% over the same period in … [Read more...]

Wilshire Corridor Condos January Activity

Consider the resale value when buying a Los Angeles home

It is the new year and time to see what happened with the Wilshire Corridor condo market in January. There is a desperate shortage of inventory, sales prices are rising, and the luxury market which has been stagnant for a while is finally starting to move. So, let's take a look: Wilshire Corridor condo sales Sold +/- Price Range Median Price +/- Active Median New Jan. Pending Sold v List Price 6 -5 $400,000 to … [Read more...]

Wilshire Corridor Condo Market: The Year in Review

Wilshire Corridor Condos 2012 Market Report

Another year has flown by and it is time to check in on the Wilshire Corridor condo market to see how sales progressed over 2012 compared with 2011.  Was there any improvement?  Let's take a look. The figures are based on 2 bedrooms units and up and do not include penthouse units. Building Sold +/2011 Median Price +/- 2011 Avg. Price Per Sq. Ft.** Total Active Median Price Pending Beverly … [Read more...]

Wilshire Corridor Condo Market Report October 2012

Wilshire Corridor condo market report November 2012

The Wilshire Corridor condo market has been pretty quiet over the past few months.  Let's see how October compares to September. Building Sold +/- Sept. Price Range Avg. Price Per Sq. Ft.** Total Active New Oct. Pending Beverly West*  $1,202.50 Blair House 0  = N/ A $536.79 3 0 1 Crown Towers 0  -1 N/A  $407.62 6 0 1 La Tour 1  +1 $1,920,000 $655.42 3 0 0 Marie … [Read more...]