Submarket Snapshot: Condos in Downtown Los Angeles in Q1 2016

Sales momentum remained slow

TRD LOS ANGELES /
May.May 05, 2016 05:00 PM

Because no new condo inventory formally launched in Downtown Los Angeles in the first quarter, the area saw another period of slowed sales momentum, according to a report by the Agency.

The report tracked the sale of condos valued greater than $500,000. There were 40 condos sold in DTLA that fit that criteria in the first quarter, almost a third less than the number that sold in the same period last year.

The units sold for an average of $968,000, or $741 a square foot.

There were 95 condos on the market in DTLA as of April 1, with heftier price tags. The average listing price was $1.4 million, or $959 a square foot.

TEN50 and Metropolis (Phase 1) are expected to be completed by year’s end, bringing over 450 residences to the DTLA market.


Related Articles

arrow_forward_ios
From left: Council President Nury Martinez, Councilmember Jose Huizar, and Mayor Eric Garcetti (Credit: Jerod Harris/Getty Images, and Twitter)

“Greed, corruption, and deception”: City’s top pols want Huizar out

“Greed, corruption, and deception”: City’s top pols want Huizar out
Onni Group’s Rossano DeCotiis and a rendering of the project

Onni Group must redesign Times Mirror Square project, but the clock is ticking

Onni Group must redesign Times Mirror Square project, but the clock is ticking
Smoke Tokes was one business that burned over the weekend (Credit: APU GOMES/AFP via Getty Images)

Federal investigators probe large fire at cannabis products warehouse

Federal investigators probe large fire at cannabis products warehouse
City National Plaza, CommonWealth CEO Brett Munger Calpers CEO Marcie Frost

CalPERS venture snags $550M refi on City National Plaza tower

CalPERS venture snags $550M refi on City National Plaza tower
AEG CEO Dan Beckerman (Credit: Shaun Clark/Getty Images)

AEG plans 160-key hotel next to its DTLA headquarters

AEG plans 160-key hotel next to its DTLA headquarters
LA City Hall

DTLA resi project at center of bribery probe: report

DTLA resi project at center of bribery probe: report
Crown Group’s head of U.S. development, Patrick Caruso and a new rendering of the project (Credit: Koichi Takada Architects/LA Times)

Crown Group makes dramatic changes to $500M DTLA project

Crown Group makes dramatic changes to $500M DTLA project
Skid Row Housing Trust CEO Lee Raagas and a rendering of the project (Credit: Michael Maltzan Architecture via Urbanize)

Skid Row Housing Trust, Michael Maltzan Architecture plan mass-timber housing tower

Skid Row Housing Trust, Michael Maltzan Architecture plan mass-timber housing tower
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...