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How is the Wilshire Corridor Condo Market? 3rd Quarter 2014

Posted by janepeters on October 3, 2014
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The Wilshire Corridor is a unique market. The average price of a condo is $1.1 Million and the turnover at that price is not large, as you can imagine.

Let’s see how the market performed over the last Quarter:

Checking in on the Wilshire Corridor condo market

Building Sold +/ Price/
Median Price

Avg. Price
Per Sq. Ft.++

Total
Active

Price/
Median Price

Pending
Beverly West * 1 +1 $6,218,000 $1,630.74 2 $6,872,500 0
Blair House 
1 +1 $2,146,500 $773.23 1 $2,399,000 0
Crown Towers 0 = N/A $416.40 1 $949,000 2
La Tour
1 -1 $1,950,000 $611.29 3 $2,099,900 1
Marie Antoinette 
0 -2 N/A $433.17 1 $584,900 1
Park Wilshire  1 -1 $562,000 $584.20 3 $998,000 0
Ten Five Sixty  3 +2 $1,200,000 $671.93 4 $1,742,500 0
The Californian
0 = N/A $876.48 1 $4,950,000 0
The Carlyle*
4 +2 $2,664,375 $971.63 7 $4,125,000 6
The Churchill  0 -1 N/A $376.59 3 $899,000 0
The Diplomat  1 -1 $1,080,000 $459.18 0 N/A 0
The Dorchester 
4 +4 $765,000 $498.54 1 $729,000 2
The Grand 
1 = $980,000 $592.50 4 $939,000 1
The Longford  1 = $810,000 $478.72 1 $650,000 1
The Mirabella  2 +2 $1,172,500 $544.84 0 N/A 0
Regency Wilshire 0 -1 N/A $471.96 2 $1,114,500 1
The Remington
4 +3 $1,250,000 $741.21 3 $1,249,000 0
The Venezia  0 -1 N/A $675.68 2 $1,285,000 0
The Westford 1 +1 $1,110,000 $513.41 1 $1,299,950 0
The Westholme 3 +2 $900,000 $388.43 4 $849,500 0
The Wilshire 0 -3 N/A $765.38 6 $2,995,000 0
Wilshire Comstock
3 +2 $798,000 $478.40 4 $1,099,000 2
Wilshire Holmby 1 = $853,125 $352.53 2 $574,000 0
Wilshire House 2 +2 $2,267,500 $804.93 3 $2.249,000 0
The Wilshire Manning ** 3 +3 $1,110,000 $494.96 1 $1,099,000 1
Wilshire Marquis 4 +3 $590,000 $504.64 2 $649,450 2
Wilshire Regent 4 = $417,500 $685.47 3 $565,000 5
Wilshire Selby E.
2 +1 $467,500 $543.92 1 $465,000 0
Wilshire Selby W.
1 -3 $519,026 $509.35 0 N/A 2
Wilshire Terrace  0 = N/A $447.06 2 $1,575,000 2
Wilshire Thayer  0 = N/A $397.95 3 $775,000 0

 

Sellers Market Balanced Market Buyers’ Market
Less than 5 months 5 to 7 months More than 7 months

Information taken from the MLS/CLAW deemed reliable but not guaranteed

* The Beverly West and The Carlyle sell in-house also so we do not have access to the complete stats. One of the listed condos at the Beverly West is a resale.
**There is one penthouse unit for sale at $4,995,000. It is unlikely to sell at this price – $899.51 per square foot.
++ This is the last recorded price per sq. ft. where none is presently available.

Over the past three months there have been 45 units sold at an average price of $1,138,509. The average days on the market was 109 and the sold price vs listed price was 93.63%.

The majority of buildings favor buyers, mostly in the higher end market

Previous Wilshire Corridor condo market reports

Wilshire Corridor Condos for Sale

(Sample listings)

[idx-listings linkid=”165915″ count=”15″ showlargerphotos=”true”]
 

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