Los Angeles Living

Let’s take a look at how Downtown Los Angeles condos fared over the past year.

For the purposes of this report I have broken the price ranges down to under $500K, $500K to $1 Million, and the over $1 Million bracket. The largest movement is in the under $under 500K category.

Market absorption indicates the amount of time it will take to sell the existing inventory on the market.  Six months is a balanced market; under six months a sellers’ market; over six months a buyers’ market.

Downtown Los Angeles Condos under $500,000 are a hot commodity, and definitely a strong sellers’ market, indicated by the low inventory.

91 of the past year’s sales were studios, which are extremely popular and hard to find, especially in good condition. 34 of these were short sales or foreclosures.

Out of the remaining 275 condos sold over the past year, 71 were either a foreclosure or short sales.

The median price has declined slightly over the previous 12 months, but the sold to list price has increased.

Only two sales in this category were either a short sale or foreclosure.

The media price has increased, as has the sold price to list price.

With a little over six months’ worth of inventory, the $500K to $1M Los Angeles Downtown condos price range is fairly stable, leaning slightly towards buyers.

The over $1 Million Downtown Los Angeles condo market is basically based on two buildings, the Ritz Carlton Residences at L.A. Live,  and EVO, and sales in this price range are slow, with over two years’ worth of inventory.

Search Condos for Sale in Downtown Los Angeles

Showing properties 1 - 25 of 127. See more Downtown Los Angeles Condos for Sale. 
(all data current as of 2/2/2012)

1. $199,000 : 312 W 5TH ST, Los Angeles
   
   1 bed, 1.0 baths

   Home size: 990 sq ft

   Year built: 1923

   Days on market: 4
    
2. $428,000 : 880 W 1ST ST, Los Angeles
   
   2 beds, 2.0 baths

   Home size: 1,323 sq ft

   Year built: 1982

   Parking spots: 2

   Days on market: 4
    
3. $179,900 : 746 S LOS ANGELES ST, Los Angeles
   
   0 beds, 1.0 baths

   Home size: 650 sq ft

   Year built: 1922

   Days on market: 7
    
4. $239,000 : 108 W 2ND ST, Los Angeles
   
   0 beds, 1 full bath

   Home size: 760 sq ft

   Year built: 1910

   Days on market: 9
    
5. $120,000 : 2121 James M Wood Blvd 425, Los Angeles
   
   1 bed, 1 full bath

   Home size: 650 sq ft

   Year built: 1923

   Days on market: 9
    
6. $1,725,000 : 1100 S HOPE ST, Los Angeles
   
   1 bed, 1 full, 1 part baths

   Home size: 2,310 sq ft

   Year built: 2007

   Parking spots: 2

   Days on market: 10
    
7. $139,900 : 360 West Avenue 26 #302, Los Angeles
   
   0 beds, 1 full bath

   Home size: 630 sq ft

   Lot size: 1.23 ac

   Year built: 2006

   Parking spots: 1

   Days on market: 10
    
8. $198,900 : 1477 West 20th Street #2, Los Angeles
   
   3 beds, 3 full baths

   Home size: 1,291 sq ft

   Lot size: 11,982 sq ft

   Year built: 1987

   Parking spots: 2

   Days on market: 11
    
9. $599,000 : 849 S BROADWAY, Los Angeles
   
   1 bed, 2.0 baths

   Home size: 1,610 sq ft

   Year built: 1930

   Days on market: 11
    
10. $199,000 : 1425 W 12th St 248, Los Angeles
    
    3 beds, 2 full baths

    Home size: 1,030 sq ft

    Lot size: 3.38 ac

    Year built: 1983

    Parking spots: 4

    Days on market: 11
     
11. $299,000 : 100 South Alameda Street #402, Los Angeles
    
    2 beds, 2 full baths

    Home size: 1,186 sq ft

    Lot size: 3.17 ac

    Year built: 2005

    Days on market: 11
     
12. $1,475,000 : 1155 S GRAND AVE, Los Angeles
    
    2 beds, 2 full, 1 part baths

    Home size: 2,346 sq ft

    Year built: 2008

    Parking spots: 2

    Days on market: 11
     
13. $1,650,000 : 1155 S GRAND AVE, Los Angeles
    
    2 beds, 2 full, 1 part baths

    Home size: 2,384 sq ft

    Year built: 2008

    Parking spots: 2

    Days on market: 11
     
14. $1,525,000 : 1155 S GRAND AVE, Los Angeles
    
    2 beds, 2.5 baths

    Home size: 2,239 sq ft

    Year built: 2008

    Parking spots: 2

    Days on market: 11
     
15. $780,000 : 1100 WILSHIRE, Los Angeles
    
    2 beds, 2.0 baths

    Home size: 1,340 sq ft

    Year built: 1986

    Days on market: 13
     
16. $140,000 : 1118 Valencia St 314, Los Angeles
    
    1 bed, 1 full bath

    Home size: 926 sq ft

    Lot size: 3.38 ac

    Year built: 1983

    Parking spots: 2

    Days on market: 16
     
17. $649,000 : 1850 INDUSTRIAL ST, Los Angeles
    
    1 bed, 1 full bath

    Home size: 1,052 sq ft

    Year built: 2007

    Days on market: 17
     
18. $334,900 : 999 Figueroa Ter 203, Los Angeles
    
    3 beds, 3 full baths

    Home size: 1,356 sq ft

    Lot size: 1.16 ac

    Year built: 1990

    Parking spots: 4

    Days on market: 22
     
19. $154,900 : 312 W 5TH ST, Los Angeles
    
    1 bed, 1 full bath

    Home size: 500 sq ft

    Year built: 1923

    Days on market: 22
     
20. $330,000 : 1234 Wilshire Blvd 613, Los Angeles
    
    2 beds, 2 full baths

    Home size: 1,030 sq ft

    Lot size: 1.64 ac

    Year built: 2006

    Parking spots: 4

    Days on market: 23
     
21. $565,000 : 1100 S HOPE ST, Los Angeles
    
    1 bed, 1.0 baths

    Home size: 960 sq ft

    Year built: 2007

    Parking spots: 1

    Days on market: 23
     
22. $465,000 : 600 W 9TH ST, Los Angeles
    
    2 beds, 2 full baths

    Home size: 1,193 sq ft

    Year built: 1983

    Parking spots: 2

    Days on market: 25
     
23. $625,000 : 1111 S GRAND AVE, Los Angeles
    
    2 beds, 2.0 baths

    Home size: 1,520 sq ft

    Year built: 2005

    Parking spots: 2

    Days on market: 25
     
24. $335,000 : 460 S SPRING ST, Los Angeles
    
    1 bed, 1.0 baths

    Home size: 800 sq ft

    Year built: 1912

    Parking spots: 1

    Days on market: 27
     
25. $2,850,000 : 1100 S HOPE ST, Los Angeles
    
    3 beds, 3.0 baths

    Home size: 3,020 sq ft

    Year built: 2007

    Parking spots: 3

    Days on market: 27
     

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Buying or Selling Los Angeles Real Estate

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Read more: http://www.homejane.com/downtown-los-angeles-condos-market-report.html#ixzz1lMgKyICY

Downtown Los Angeles is rich in history and architecture and many Angelenos have not discovered its hidden treasures.

This is the second in my series of Downtown Los Angeles.  Apologies for the poor camera work, something I need to improve on.

There are so many places that make you feel that you are anywhere but L.A., or even the U.S. Figueroa Hotel, built in 1925 in the Moorish style, this boutique hotel is close to the Staples Center and within walking distance to the business district.  Stepping in from the street you are in another world.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The new L.A. Live entertainment complex is not yet completed, but already is a popular destination.  It is a venue for sports, theaters, broadcast studios, restaurants, music clubs, hotels and bowling. It will also enhance the nearby Convention Center, making Los Angeles a serious competitor for the meeting and convention market. L.A. Live hosts the GRAMMYs, EMMYs, AMA Awards, ESPYs and the American Idol Finals, making it the event capitol of the world.

 

 

 

 

 

 

 

 

 

Downtown Los Angeles houses a 90-block Fashion District, with the largest concentration of fashion-related businesses in the Western U.S. One of the most popular areas is Santee Alley. On the weekends the area is wall-to-wall people with a South of the Border Feeling. If you want bargains, this is the place.

 

 

 

 

 

 

 

 

 

 

Did you know that we had a Coca Cola bottling plant in Los Angeles?  Built in 1937 by architect Robert V. Derrah, it resembles a ship.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The day ended with a ride on the new Los Angeles Metro Gold Line, which was just completed a couple of weeks ago.  The Gold Line links Pasadena to East Los Angeles.  Plans for the extension of the much needed transportation system in L.A. is the subject of another post.

We picked up the train in Mariachi Square, a historic place where musicians have gathered since the 1930s with their instruments waiting to be selected to play at parties, events, restaurants, etc. The square was recently renovated and there is a contrast between the old world and new.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This is something you don't associate with Los Angeles:

And finally, Union Station, The Last of the Great U.S.-built Railway Stations.

 

 

 

 

 

 

 

 

 

 

 

 

 

Downtown Los Angeles at night is a hidden treasure that most Angelenos have yet to discover.

Tonight I visited the Checkers Hotel with its rooftop swimming pool.  The Checkers, now Hilton Checkers, is a historic hotel dating back to 1926. It is the only 4-diamond boutique hotel in Downtown L.A.  The view from the rooftop is stunning at night and I am sorry I am not a better photographer to have captured it.  

The art deco building in front is The Los Angeles Central Library, the third largest in the nation, and probably the most beautiful. It was built to resemble ancient Egyptian architecture and the central tower has a tiled mosaic pyramid.

Pershing Square, in front of the historic Biltmore Hotel, is now the site of  an outdoor skating rink - yes, skating in Los Angeles. This will be open until January 18th.  For more information visit the L.A. Parks site.