It has been a while since I have discussed what is going on in terms of sales and leases on the Wilshire Corridor in general.
Overall movement on the Corridor is rather sluggish. Over the past six months there have been only 62 sales ranging from $359,000 at Wilshire Selby West to $3,200,000 at La Tour. The average days on the market was 82 (higher than) and the sold price vs list price was 94.09% (lower than) the average for other areas of Los Angeles, The median price of those sold properties is $787,500. There are currently 24 units under contract.
Only 5 of the above sales were 3 bedrooms, ranging from $460,000 to $3,195,000 and there are presently 21 3 bedrooms listed from $579,000 at The Marie Antoinette to $8,850,000 (The Carlyle). These have an average days on the market of 135.
67 units were leased over the past six months from $1,800 at Wilshire Selby West for a 1 bedroom, to $15,000 at The Remington. Average days on the market was 76.
There are currently 29 listed from $2,460 to $14,950 and the average days on the market is 145.
In 3 bedroom units, there have only been 13 leased over the past six months from $3,700 to $15,000 (The Remington) with an average of 99 days on the market. There are currently 7 listed from $3,795 at The Marie Antoinette to $14,950 at The Wilshire. Average days on the market for these are 69. (There are two other listings, a fully-furnished penthouse at The Carlyle for $45,000 and a unti at The Californian for $25,000 which are not included.)
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