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The Loftway Report Condo And Loft Sales In Downtown Los Angeles Year 2019
2019 was a mixed year for Downtown, the number of total sales went down for a second consecutive year even though there was a new building for sale, Metropolis Tower II.
On the lease side, numbers were a bit higher, which makes sense since Metropolis has a lot of units for lease.
In comparison with last year, there were 245 sales versus 294, in 2018. Days on the market went up almost 30% as units took longer to move.
Downtown still very building-specific, and while some buildings are in high demand and had a double-digit appreciation, others have large inventory sitting on the market and seem double-digit depreciation.
On the new construction side, Perla and 939 Broadway are still selling and are the only new buildings beside Metropolis. Construction at Ocean Wide has stopped, and the project's future is uncertain, there are still a large number of apartment buildings in the works and many rental units coming online.
This report is a useful tool for buyers and sellers, and it offers great insight into the condo/loft real estate market in Downtown Los Angeles.
For a full pdf copy of the report, go to www.loftway.com/
There are many nuances in each building, and the reasons numbers are what they are. To make sense of this report and see how it can affect you or if you would like to sell or lease your LOFT, please give us a call.
WWW.LOFTWAY.COM 213.254.5638 INFO@LOFTWAY.COM
Loftway is a full-service Real Estate brokerage dedicated to LOFTS and ARCHITECTURAL homes in the Los Angeles area.
When it's time to move forward with buying a loft, be sure to contact www.loftway.com, the premier Los Angeles Loft sales company.