Real Estate Market Report: Downtown Los Angeles – October 2023 vs. October 2022 | Prices Up

The real estate market is a dynamic entity, constantly evolving and influenced by a myriad of factors. Downtown Los Angeles, a hub of commerce, culture, and residential living, is no exception. In this report, we will delve into the data from October 2023 and compare it with the same month from the previous year, October 2022.

Overview:

The data provided offers a comprehensive look into various aspects of the real estate market, including listings that were withdrawn, canceled, expired, sold, pending, on hold, under active contract, and those that are currently active. For the sake of brevity and relevance, our analysis will focus primarily on the sold listings and the duration on the market (DOM) statistics.

Sold Listings:

October 2023:

  • Number of Listings Sold: 38
  • Lowest Selling Price (SP): $353,000
  • Median SP: $550,000
  • Highest SP: $1,555,000
  • Average SP: $685,202
  • Average Price per Sq.Ft.: $683.55
  • Total Volume: $26,037,687

October 2022:

  • Number of Listings Sold: 27
  • Lowest SP: $360,000
  • Median SP: $560,000
  • Highest SP: $1,132,000
  • Average SP: $648,685
  • Average Price per Sq.Ft.: $699.40
  • Total Volume: $17,514,500

Analysis:

  1. Volume of Sales: There was a noticeable increase in the number of properties sold in October 2023 (38) compared to October 2022 (27). This indicates a more active market in 2023.
  2. Selling Price: The lowest and median selling prices saw a slight decrease in 2023 compared to 2022. However, the highest selling price in 2023 ($1,555,000) was significantly higher than in 2022 ($1,132,000). This suggests that while the general market might be slightly more affordable, luxury properties or those in prime locations are fetching a higher price.
  3. Price per Square Foot: The average price per square foot decreased marginally from $699.40 in 2022 to $683.55 in 2023. This could indicate that buyers are getting slightly more space for their money in 2023.
  4. Total Volume: The total volume of sales increased substantially from $17,514,500 in 2022 to $26,037,687 in 2023, further emphasizing the heightened activity in the 2023 market.

Duration on Market (DOM) Statistics:

The DOM statistics provide insights into how long properties typically stay on the market before being sold. A shorter DOM can indicate a seller’s market, while a longer DOM might suggest a buyer’s market.

October 2023:

  • 0-30 Days: 44.74% of listings sold, with an average of 99.03% of the list price received.
  • 31-60 Days: 21.05% of listings sold, with an average of 97.62% of the list price received.

October 2022:

  • 0-30 Days: 33.33% of listings sold, with an average of 99.15% of the list price received.
  • 31-60 Days: 33.33% of listings sold, with an average of 97.96% of the list price received.

Analysis:

In October 2023, a larger percentage of properties (44.74%) were sold within the first 30 days compared to 2022 (33.33%). This suggests that properties in 2023 were moving off the market faster, possibly due to increased demand or more competitive pricing. The numbers pertain to Downtown Los Angeles and nearby loft neighborhoods in MLS Areas 23,42 and 1375.

Market Improving for Home Sellers:

The Downtown Los Angeles real estate market in October 2023 showed signs of increased activity compared to October 2022. With more properties sold, a higher total sales volume, and a shorter duration on the market for many listings, 2023 seems to have been a more dynamic year for real estate in the area. Whether you’re a buyer, seller, or investor, understanding these trends can offer valuable insights into the market’s direction and potential opportunities in the future.

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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker DRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Text and photos created or modified by artificial intelligence. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

AMP Lofts

695 S Santa Fe Ave, Los Angeles, CA 90021

AMP LOFTS FOR LEASE | ARTS DISTRICT FOR LEASE | UNLISTED

AMP Lofts in Downtown Los Angeles: Where Lifestyles and Luxuries Intersect

Ah, Downtown Los Angeles – a tapestry of culture, style, and innovation. Right in its heart, at 695 S Santa Fe Ave, stands the emblematic AMP Lofts, bridging the best of city living with the refined tastes of the modern urbanite. | ARTS DISTRICT LOFTS

Available immediately is a captivating 1bd/2ba apartment home that not only promises solace but offers an environment that nurtures creativity and passion. Set against the backdrop of the thriving City of Angels, this residence ensures its inhabitants are only steps away from the pulsating core of arts and culture. | VIDEO TOUR

VIDEO

Emerging Artists and Creative Professionals, Welcome Home!

The essence of AMP Lofts speaks volumes about its commitment to the artistic spirit. Los Angeles, with its lively arts scene, sets the perfect stage for emerging artists, and the AMP Lofts complements it with panache. If you have an artistic flair waiting to burst forth, the huge, common area Art Workshop is your sanctum. It’s your success hub of creative social activity. Those desiring to showcase their talent can then display their works in the attached mega Art Gallery.

Exclusive Amenities for an Inclusive Lifestyle

Life throws its share of curveballs, but at AMP Lofts, the aim is to simplify, beautify, and elevate. Whether you’re craving a tranquil day by the pool or a night of socializing in style, AMP Lofts delivers:

  • #Wellness: A state-of-the-art Fitness Center to keep those endorphins flowing.
  • #Oasis: Dive into relaxation at the Infinity Pool & Spa.
  • #Society: The Clubroom awaits your evenings of laughter and memories.
  • #Lookout: The Skydeck offers not just a view, but an experience.
  • #Craft: An Art Workshop to breathe life into your creations.
  • #Taste: Outdoor Kitchens to delight your culinary senses.
  • #Gallery: An Art Gallery to immerse in visual splendor.
  • #Connect: A Lobby that welcomes with warmth.
  • #Post: A Mail Room that ensures your packages await safely.
  • #Spoke: Secure Bike Storage for the eco-friendly traveler.
  • #Wag: Because our furry friends deserve the best, with the Dog Run.

Moreover, with Wi-Fi in all common areas, you’re always connected, whether you’re working from the comfort of your home or from one of the stylish lounges.

Intricately Designed Apartment Spaces

Every apartment at AMP Lofts reflects an amalgamation of comfort and style:

  • Flooring options include either sleek Concrete or elegant Plank.
  • Stainless Steel finishes that add a touch of glamour.
  • Private Patios or Balconies for those serene coffee mornings or wine evenings.
  • Essential amenities like an In-Home Washer and Dryer.
  • Walk-in Closets that cater to the fashion-forward resident.
  • And with Smart Home Technology, be in control of your sanctuary with the touch of a button.

Your Story Begins

AMP Lofts doesn’t just offer an apartment; it offers an experience, a lifestyle. It’s where every day feels like an exploration, every corner promises a story, and every amenity is a journey in itself. So, whether you’re a creative soul, a social butterfly, or someone seeking a serene retreat in the heart of a bustling city, AMP Lofts in Downtown Los Angeles is where your search ends and your story begins. Welcome to the intersection of dreams and reality. Welcome to AMP Lofts. | FREE LIST OF ARTS DISTRICT LOFTS

The Arts District, Los Angeles: A Melting Pot of Creativity, Culture, and Community

Los Angeles, a city known for its sprawling urban landscape, cinematic allure, and cultural depth, has many pockets of vibrant communities. Among them, the Arts District stands out as an unparalleled beacon of creativity and innovation. Located right in the epicenter of this cultural hub, AMP Lofts is not just a residence; it’s a testament to the spirit of the Arts District. This unique setting offers emerging artists and creative professionals the perfect space to live, work, and play.

The Heartbeat of a City: The Arts District

Over the years, the Arts District has transformed from an industrial neighborhood to a dynamic, vibrant community filled with murals, studios, galleries, and a tantalizing array of eateries and entertainment spots. Its transformation is emblematic of the very artists and creative professionals it caters to: ever-evolving, imaginative, and resilient.

Delving into the District: Local Gems

  1. Krav Maga Worldwide: Beyond just arts and culture, the district promotes physical health and self-defense. Krav Maga Worldwide offers residents and visitors a chance to learn the renowned self-defense system, Krav Maga, ensuring that while the mind flourishes in creativity, the body remains strong and agile.
  2. Bestia: A culinary crown jewel of the Arts District, Bestia is where Italian gastronomy comes alive. Known for its delectable pizzas, pastas, and charcuterie, this restaurant is a must-visit for every food enthusiast.
  3. Los Angeles Gun Club: For those interested in a different kind of art, the Los Angeles Gun Club provides a safe and controlled environment for shooting practice. It’s an experience that juxtaposes the artistic and the adrenaline-pumping.
  4. Biscuit Lofts & Toy Factory: These are not just residential spaces; they are historical landmarks. Former factories transformed into contemporary lofts, they epitomize the essence of the Arts District: repurposing the old to create something novel and exciting.
  5. Hank’s Organic Market: In a bustling urban setting, Hank’s offers a refreshing range of organic and locally sourced products. It’s a reminder that amidst the concrete and creativity, there’s a place for green and clean living.
  6. Pizzanista: Offering arguably the best slices in town, Pizzanista blends traditional pizza-making with innovative flavors and toppings, much like the district it calls home.
  7. Bread Lounge: A bakery that brings old-world techniques to the modern table. Whether you’re after a crusty sourdough or a delicate pastry, the Bread Lounge is the place to satiate your carb cravings. | MORE

Living at AMP Lofts: Being Part of the Narrative

AMP Lofts, strategically located amidst these attractions, offers residents more than just a place to call home. It provides a sense of belonging, an opportunity to be a part of a story that’s constantly unfolding. Here, every resident, whether an emerging artist or a seasoned professional, finds a space that resonates with their aspirations.

Celebrating Community in the Arts District

The Arts District is more than a neighborhood; it’s an emotion. It celebrates diversity, encourages expression, and fosters community. Living here, particularly at AMP Lofts, is not just about embracing an address; it’s about embracing a lifestyle that’s rich, varied, and ever-inspiring. Whether you’re here to create, to experience, or simply to be, the Arts District welcomes you with open arms and a canvas waiting for your unique imprint.

Get a free list of lofts, condos and apartments available for lease or for sale in the Arts District. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE Affordable | PopularLuxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker DRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Text and photos created or modified by artificial intelligence. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.