Wilshire Corridor Condos. How are They Doing so Far This Year?

The Los Angeles real estate marketĀ is heavily favoring sellers. Ā Prices are rising, days on the market slowly dropping, and inventory extremely low. Ā So let’s see how the Wilshire Corridor condo market is doing so far this year. Ā The luxury market has started to pick up, but is still slower than the more moderately priced market.

Sold: Ā 16 – low price $350,000, high price $2,830,000. Ā This is 4 down from the same period in 2012.

Median price: Ā $522,400 –Ā down 6.71% over the same period in 2012.

Average days on the market: Ā 147 – up 44 days over 2012.

Sold price vs list price: Ā 95.83% – up 4.7% over 2012.

Under contract: Ā 33

Active: Ā 65

Median price: Ā $1,499,000

There really is no pattern here. Ā The median sold price is down as are the number of solds compared with the same period last year, and the average days on the market is up slightly. Ā However, the sold price over the list price is up slightly.

There are 65Ā condos on the market right now, 30 of which came on the market since January. Ā With 68 sold over the past 6 months and 33 presently under contract, now is a good time for prospectiveĀ sellers,Ā  to consider putting their homes on the market. Ā Joining most of the rest of Los Angeles, the Wilshire Corridor condo market is definitely a sellers’ market.

Wilshire Corridor condos for sale