MLS reports median sale price of condos and co-ops climbs in LA

Median sale price of condos and co-ops climbs.

Posted on August 14, 2017 by The Real Deal (Los Angeles Real Estate News)

Mid-Wilshire and Pacific Palisades had most significant jumps. As home prices increase in Los Angeles, the condominium market is heating up, according to an MLS report released last week that tracked median sale prices for condos and co-ops.

The study, which doesn’t include the San Fernando Valley or the South Bay, compared the median price of condos sold in the second quarter with the same period last year.

Topanga — which saw its median sale price rise by a whopping 174 percent — saw the biggest jump. But that’s based on a tiny number of sales. Two units traded in the area in the second quarter, compared to one unit in the same period last year, according to Curbed.

When looking solely at neighborhoods with at least 10 units sold in both quarters, Mid-Wilshire and Pacific Palisades clocked the biggest price gains. 

The median sale price in Mid-Wilshire jumped 25 percent to $632,000 with 70 units sold sold in the second quarter of this year, compared with $505,500 across 54 transactions in the previous period. 

Read more TheRealDeal.com or La.Curbed.com

Median sale price of condos