Downtown Los Angeles Real Estate Market

The real estate market in Downtown Los Angeles has changed over the past year. While many agents report a slowdown in the number of buyers due to higher prices, sales volume by dollar amount is up by 25% year over year.

Vibrant Alta Lofts at night
Vibrant Alta Lofts at night

Here are the Downtown numbers for the 6 month period ending April 5, 2015:

# of Listings 206 206
Average Days on Market 69 69
Median Days on Market 49 49
Low Price $ $119,000 $120,000
Median Price $ $562,000 $550,000
High Price $ $3,550,000 $3,450,000
Average Price Total $ $658,138 $642,304
*Avg. Price w/ Sq.Ft. $ $658,138 $642,304
*Average Sq. Ft. 1,139 1,139
*Avg. Price/Sq.Ft. $ $563.06 $550.88
*Median Price/Sq.Ft.$ $568 $564
***Avg. Price w/ LSZ $ $647,902 $632,339
***Average LSZ 60,667.02 60,667.02
***Median LSZ 39,304 42,554
***Avg. Price/LSZ $ $20.01 $19.56
Avg. SP/Avg. LP 97.59%
Avg. SP/Avg. OLP 96.00%
Total Volume $135,576,449 $132,314,755

Los Angeles And Westside Stats At A Glance
Year-Over-Year

Median home prices increased by 13.8% year-over-year to $1,080,000 from $949,000.
The average home sales price rose by 1.7% year-over-year to $1,689,770 from $1,661,780.
Home sales rose by 5.2% year-over-year to 542 from 515.
Active listings rose 50.6% year-over-year to 7,654 from 5,083.
Sales price vs. list price ratio rose by 1.8% year-over-year to 100.5% from 98.7%.
The average days on market rose by 0.2% year-over-year to 55 from 55.
Compared To Last Month

Median home prices slipped by 9.6% to $1,080,000 from $1,195,000.
The average home sales price rose by 2.3% to $1,689,770 from $1,651,060.
Home sales up by 34.5% to 542 from 403.
Active listings increased 6.0% to 7,654 from 7,224.
Sales price vs. list price ratio increased by 1.1% to 100.5% from 99.4%.
The average days on market dropped by 5.8% to 55 from 59.

Here is the Los Angeles MLS market report on pdf:

la-market-report-150405 03_08_15_LA_Times_Article

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Copyright © 2015 This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not necessarily associated with the home owner’s association, seller or developer. For more information, contact (213) 478-0499 or visit LAcondoInfo.com  Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

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