Downtown Los Angeles Real Estate Market Report February 2023
REAL ESTATE NEWS — The urban L.A. property sector continues to drop following 5 months of softening market numbers. February this year brought less than half as many listings sold, as properties take about 300% longer to sell compared to the same period in the previous year. Here are the numbers for Feb.:
2022 saw 63 listings sold; average DOM 40; median DOM 14; median price $540,000; average price $834,000; total volume $53 million
2023 only 28 listings sold; average DOM shot up to 55; median DOM up to 46; median price $600,000; average price $666,000; Total volume dropped to under $19 million.
The real estate market in urban Los Angeles is continuing to decline, with February 2023 showing a significant drop in listings sold and properties taking 300% longer to sell compared to the same period in the previous year. In 2022, there were 63 listings sold with an average of 40 days on the market, while in 2023, only 28 listings were sold with an average of 55 days on the market. Median and average prices also increased in 2023. Statistics based on real estate professionals multiple listing service data for DTLA and nearby loft neighborhoods MLS areas 23, 42 and 1375.
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Here’s a list of some of the buildings with units for lease that have been seen on the L.A. Loft Blog:
2121 Lofts – 2121 E 7th Pl, 2135 7th Pl, 712 S Santa Fe Av, 90021 717 Olympic – 717 W Olympic Blvd, 90015 8th and Hope – 801 S Hope St, 90017 American Cement Building Lofts – 2404 Wilshire Blvd, 90057 Apex – 900 S Figueroa St, 90015 Art House – 1200 S Santa Fe Avenue, CA 90021 Atelier DTLA – 801 Olive St, Los Angeles 90014 Ava Little Tokyo – 236 S Los Angeles St, 90012 Aven – 1120 S Grand Ave, Los Angeles, CA 90015 Avant South Park – 1360 S Figueroa St, 90015 AVANTdowntown.com Artisan on 2nd – 601 E 2nd St, 90012 Binford Lofts – 837 Traction Ave, 90013 Blackstone – 901 S Broadway, 90015 Brewery Lofts – 1920 N Main St, 90031 Brick Lofts – 652 Mateo St, 90021 Broadway Lofts – 430 S Broadway, 90013 Brockman Lofts – 530 W 7th St, 90014 Canvas L.A. – 138 N Beaudry Ave, 90012 Chester Williams – 215 W 5th Street, 90013 City Lights on Fig – 1300 S Figueroa St, 90015 Chapman Flats – 756 S Broadway, 90014 Continental Lofts – 408 S Spring St, 90013 Eighth and Grand – Grand Ave, 90017 Elysian – 1115 Sunset Blvd, 90012 Emerson – 225 S Grand Ave, 90012 Emil Brown Building – 308 East 9th St, 90015 Factory Place Lofts – 1308 Factory Place, 90013 G12 – 1200 S Grand Ave, 90015 Garey Building – 905 E 2nd St, 90012 GareyBuilding.com Grand Central Square – 306 W 3rd St, 90013 Gas Company Lofts – 810 S Flower St, 90017 Great Republic Lofts – 756 S Spring St, 90014 Grether & Grether – 730 S Los Angeles St, 90014 GretherLofts.com Hellman – 411 S Main St, 90013 Hope+Flower – 1201 S Hope St, 90015 Jeffries Lofts – 117 Winston St, 90013 L.A. Loft Tour – (213) 478-0499 http://www.LAloftTour.com Lacy Studio Lofts – 2664 Lacy St, 90031 LEVEL DTLA – 888 Olive St, 90015 http://www.LEVELDTLA.com Long Beach Avenue Lofts – 1250 Long Beach Ave, 90021 Mandel Lofts – 711 S Olive St, 90014 Medallion – 334 S Main St, 90013 Medici – 725 S Bixel St, 90017 MegaToys Lofts – 905 E 2nd St, 90012 Mercantile Lofts – 620 S Main St, 90013 Met Lofts – 1050 S Flower St, 90015 Metro 417 – 417 South Hill Street, 90013 Metropolitan – 315 West 5th Street, 90013 Milano Lofts – 609 S Grand Ave, 90017 Mozaic at Union Station – 888 N Alameda St, 90012 Museum Tower – 225 S Olive St, 90012 NCT Lofts National City Tower Building – 810 S Spring St, 90014 Newberry Lofts – 900 E 1st St, 90012 Oakwood Olympic and Olive – 1001 S Olive St, 90012 Olive DTLA – 1243 S Olive St, 90015 One Santa Fe – 1 Santa Fe, CA 90012 Orpheum Lofts – 842-846 S Broadway, 90014 Orsini Apartments – 550 N Figueroa St, 90012 Pacific Electric Lofts – 610 S Main St, 90014 Packard Lofts – 1000 S Hope St, 90015 Pegasus – 612 S Flower St, 90017 Peterson and Tansey Lofts – 1250 Long Beach Ave, 90021 Piano Lofts – 932 S Hill St, 90015 Piero – 312 E 12th St, 90015 Promenade Tower – 123 S Figueroa St, 90012 RiverFront Lofts – 201 S Santa Fe Ave, 90012 Roosevelt Lofts – 727 W 7th St, 90017 San Fernando – 400 S Main St, 90013 Santa Fe Lofts – 121 E 6th St, 90014 Santee Court – 716 S Los Angeles St, 90014 SB Grand – 312 W 5th St, 90013 South Park Lofts – 818 South Grand Ave, 90017 Spring Arcade – 541 S Spring St, 90013 Tailor Lofts – 443 S San Pedro Street, 90013 Title Guarantee – 411 5th St #1200, 90013 Union Lofts – 325 W 8th St, 90014 Visconti – 1221 W 3rd St, 90017 Walnut Building – 691 Mill St, Los Angeles, CA 90021 Watermarke Tower – 705 W 9th St, 90015 Wren Apartments – 1230 S. Olive St, 90015 ADD AN APARTMENT
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