REAL ESTATE NEWS (Los Angeles, CA) — The urban Downtown L.A. property market has been in a serious funk since October of 2022. Things were ok 12 months ago: January of 2022 showed a healthy 54 properties sold, while 2023 gets off to an extremely anemic start with only 9 properties sold in the Downtown Los Angeles area. Last January, most properties took less than 14 days to sell. So far this year, they’re taking closer to 43 days to sell. A year ago, DTLA condos were selling for $638,000. Now, they’re $530,000 on average. Times are getting tough for sellers, as money has been getting tight for buyers lately. The above statistics were from real estate agent professional Multiple Listing service for Areas 23, 42 and 1375.
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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker CalDRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.