Luxury condominiums continue to be the darling of the Los Angeles prime housing market, with sales of condos valued over $500,000 escaping the traditional winter doldrums and achieving notable valuation improvements during the early months of 2015. According to The Agency’s just-released Q1-15 Los Angeles Prime Residential Report, the number of prime condominiums sold surged 13.5% over the same period last year, with values jumping to an average of $609/SF, a 6.6% increase over Q1-14’s benchmark of $571/SF.
Prime single family home sales, on the other hand, didn’t quite escape the traditionally slow sales season, but values held strong. How strong? Download The Agency Q1-15 Los Angeles Prime Residential Report now to find out. Plus, discover which segment over $1,000,000 actually surpassed last year’s benchmark.
The Research & Development team is a part of The Agency New Development Group. Collectively, they are advising on the most significant new development projects on the West Coast. For information regarding market intelligence, or for individual property analysis, please contact Morgan Ball – Associate Director, New Development – at 424.230.3748 or morgan@TheAgencyRE.com.