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 $1,000,000||$502,500||-11.84%||67||$1,049,000||19||28||94.51%|
Wilshire Corridor condo leases
|Leased||Price Range||Median Price||Active||Price Range||New Jan.||Median|
|8||$3,155 to $13,000||$4,450||51||$1,950 to $22,500||17||$5,001|
Information provided by MLS/CLAW deemed reliable but not guaranteed
Sales are down in January over the the same month in 2011 and the median price is down. However there are 28 sales pending and 19 new listings came on the market in January, which is good news for an area suffering from low inventory.
February should be a good month for Wilshire Corridor condo sales. Check in again in March.
Previous market reports
Wilshire Corridor Condo Market: The Year in Review
Wilshire Corridor Condo Market Report November 2012
Wilshire Corridor Condos Market Report October 2012
Wilshire Corridor 3rd Quarter Market Report 2012
Wilshire Corridor Half Year Market Report 2012
Condos for sale on the Wilshire Corridor
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.
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