Having trouble finding a new condo in Los Angeles? You’re not alone.
TMC ran the numbers for April 2017, compared to April 2016, and concluded that the 442 units available were off last year’s marks, and even down from March 2017 — which showed new construction inventory at four percent more.
Additionally, condominium pricing was down four percent year over year, to $751 per square foot. Penthouse pricing dropped by the same percentage (to $1,215 per square foot).
Figures are trending upward for resales, however. Downtown LA condo sales were up three percent year over year (to $605 per square foot), though that price came down six percent from March to April. Total DTLA condo sales were up 30 percent year over year, and 18 percent over the course of the last month.