Here’s where condo sales are on the rise around LA

Wondering where in Los Angeles condo buyers are flocking to lately? This new heat map from the MLS should help. It shows where sales rose and fell most dramatically in the third quarter of 2017 (compared to the same period a year before).

The map tracks the number of sales in each area, as well as the sales volume—how much money buyers collectively spent during each quarter. (Sadly, the map only covers a swath of the LA basin north of the 105, so apologies in advance to residents of the Valley, the South Bay, and the Harbor area.)

Among neighborhoods with 20 or more sales in the last three months, North Inglewood and Playa Vista, where sales volume shot up 87 percent and 83 percent, respectively.

Prices in both areas may be going up as well. By our calculations, the average condo in North Inglewood sold for $282,860 during the third quarter of 2016—and $366,979 a year later. In Playa Vista, the average sale price went from $868,214 to $1.14 million over the same time period.

Other areas where condo sales are booming include Downtown LA (where median sale prices rose $90,000 last year, according to a recent report), Beverly Hills, Playa del Rey, and Culver City.

But condos aren’t selling like hotcakes in every LA neighborhood. Sales volume declined at least 10 percent in Hancock Park, West LA, and around the Miracle Mile.

Meanwhile, the Westwood/Century City region saw more condo sales than every other part of the LA area examined in the map (ignoring what appears to be a typo in the number of sales listed for Palms/Mar Vista), but still saw sales volume decline by two percent.

Courtesy The MLS

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