Downtown Condo Values Rise

LOS ANGELES—According to recent trend sheet from the Mark Co., condominium prices in Downtown Los Angeles are on the rise. In April, prices increased by 8% year-over-year and 1% from the previous month. This places the average cost per square foot at around $650.

Resale condominium properties trended up in value 6% year-over-year and 1% month-over-month. The average price per square foot for resale condos along is $540. The rise in values is especially interesting considering the number of sales was down 5% year-over-year and 8% month-over-month with a total of 40 sales in April. The prices of penthouse apartments, however, did not see as significant of an increase, rising by only 8% year-over-year and down 1% from the previous month.