West Side condo, co-op prices dipped year-over-year: MLS

Los Angeles /
Feb.February 17, 2017 09:45 AM

Condos prices in some parts of the West Side are headed south.

Marina del Rey, Santa Monica, Beverly Center, and Venice all posted decreases in condo and co-op sales prices between 2015 and 2016, according to a report from the MLS.

In some cases, the drops were marginal. In the case of Santa Monica for instance, prices decreased by about 2 percent, from an average unit price of $1.06 million in the fourth quarter of 2015 to an average price of $1.04 million in the fourth quarter of 2016, based on 95 sales.

In Marina Del Ray, prices dipped by 3 percent, from $879,000 to $851,000 year-over-year.

On the flip side, the southwest neighborhood of Ladera Heights had the highest increase in sales prices: 38 percent. That number should likely be taken with a pinch of salt however, since it’s based on only two transactions.

Other neighborhoods that posted big price increases include Hancock Park, the Sunset Strip, Beverlywood, and El Sereno. They all saw an increase of at least 20 percent in prices over the past year.

The most active neighborhood for co-op and condo sales was Westwood-Century City, where there was a year-over-year increase of 17 percent in median sales prices, based on 135 transactions. [MLS]Cathaleen Chen


Related Articles

arrow_forward_ios
TGS Management's Fred Taylor and FivePoint's Daniel Hedigan
TGS Management pays $240M to buy 42 acres for Irvine data hub
TGS Management pays $240M to buy 42 acres for Irvine data hub
Susan Phillips, a professor of environmental analysis and director of Pitzer College’s Robert Redford Conservancy for Southern California Sustainability and San Bernardino County Supervisor Curt Hagman with warehouses in San Bernardino county
IE warehouse boom generates call for building moratorium
IE warehouse boom generates call for building moratorium
Oaktree’s  Howard Marks with 444 S. Flower Street (Oaktree, Getty)
Coretrust loses DTLA tower to Oaktree in foreclosure
Coretrust loses DTLA tower to Oaktree in foreclosure
Tova Capital's Zach Boren along with 205-233 East Anaheim Street in Long Beach (Getty, Tova Capital, Google Maps)
Tova Capital buys 35K sf shopping center in Long Beach for $6.2M
Tova Capital buys 35K sf shopping center in Long Beach for $6.2M
HFH's William Allen, 217 S Barranca Street, West Covina
Family office pays $38M for West Covina apartments
Family office pays $38M for West Covina apartments
Compass' Scott Tamkin with Senderos Canyon
263-acre Bel-Air canyon up for auction with $39M starting bid
263-acre Bel-Air canyon up for auction with $39M starting bid
RBM's Hiro Kobayashi with 11264 La Grange Avenue
RBM buys film company HQ in Sawtelle for undisclosed price
RBM buys film company HQ in Sawtelle for undisclosed price
LA Offices vs LA Warehouses
LA County office vacancy rises to 16.5%, study finds
LA County office vacancy rises to 16.5%, study finds
arrow_forward_ios

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

Loading...