We crunched the numbers this week, and bring you the heat map for first quarter Condo & Co-Op sales volume in Los Angeles. The market enjoyed some sizable improvements this past quarter – with 26 areas of growth, 14 areas of decline, and 11 areas with insufficient data. The top five hottest areas this quarter are:
Silver Lake – Echo Park (17 more listings sold, 278% increase) – The home of the world-famous man-made lake, Silver Lake – Echo Park was the shining star of the first quarter, more than tripling the amount of listings sold (8 in Q1-2016 to 25 in Q1-2017).
- Metropolitan South (2 more listings sold, 260% increase) – The southern neighbor of DTLA caught a break this past quarter, but keep in mind that it went from 1 listing sold in Q-2016 to 3 listings sold in Q1-2017.
- Park Hills Heights (17 more listings sold, 203% increase) – Park Hills Heights made a drastic quantitative growth, climbing to 29 listings sold in Q1-2017 versus 12 listings sold in Q1-2016.
- Ladera Heights (1 more listing sold, 128% increase) – Ladera Heights broke into the top 5 as well, but is another area with very few listings sold, growing from 1 listing sold in Q1-2016 to 2 listings sold in Q1-2017.
- Sunset Strip – Hollywood Hills West (3 more listings sold, 113% increase) – The tourist hotspot has persisted in selling a decent number of condos & co-ops, growing from 28 listings sold in Q1-2016 to 31 listings sold in Q2-2017.
Contact our Luis Rhee, VP of METIS Los Angeles for additional details.