“Downtown Los Angeles- It Ain’t For Everyone!” could be DTLA’s official slogan. It’s a sharp contrast to the rest of Los Angeles – streets shadowed by skyscrapers, a robust metro and transportation hub, small spaces, and gritty city vibes. If you’re a New Yorker, you’ll love it here. If you work here, say goodbye to a commute. It’s a bustling hub of culture and commerce and has been a focal point for real estate enthusiasts who like to live on the edge – of the market. Whether you’re a current resident, potential downtown L.A cash buyers, or simply interested in the downtown L.A real estate market, this report offers a comprehensive analysis of the Downtown L.A real estate market from June 9, 2023, to September 9, 2023, and the downtown L.A homes sold. Buying in Downtown Los Angeles? Let our Expert Market Snapshot be Your Resource! Keep scrolling! There are some incredible downtown L.A homes for sale!
The downtown L.A real estate market presents a spectrum of properties to cater to various budgets and lifestyles, and downtown L.A cash buyers. Here’s a breakdown of properties sold in different price brackets, along with their average days on market (DOM):
In the $250,000 – $299,999 range, two properties were sold with an average DOM of 81 days. The most entry level properties in Los Angeles are here. Though small in square feet, you could be owning a piece of history in one of DTLA’s many historic buildings.
The $300,000 – $349,999 range featured one property sold in just 10 days.
Moving up, the $350,000 – $399,999 range had four properties sold with an average DOM of 68 days.
Downtown L.A real estate market mid-range market showed strength. This is a great position if you are downtown Los Angeles cash buyers. In the $400,000 – $449,999 range, 19 properties were sold, each spending an average of 38 days on the market.
The $450,000 – $499,999 range showcased 12 downtown Los Angeles homes sold with an average DOM of 44 days.
Similarly, in the $500,000 – $549,999 range, 15 downtown Los Angeles homes sold with an average of 30 days. This is the bread and butter of DTLA. We expect these mid-range spots to gain value with the current city initiatives with unhoused people and the coming Olympic construction.
In the $550,000 – $599,999 range, nine properties were sold with an average DOM of 56 days.
The $600,000 – $649,999 range featured nine properties sold in 52 days on average. Remember when we said it’s not for everyone? You can see evidence of that in the days on the market. Some of these condos need to wait for the right buyer to come along. Downtown L.A cash buyers do well with these. A great opportunity to sell your current home, downsize, and avoid a mortgage.
The downtown L.A real estate market continued to shine in this bracket, with 18 downtown L.a homes sold in the $650,000 – $699,999 range, each spending an average of 36 days on the market. You could expect a pool in this bracket, along with a much higher HOA.
Now we’re getting data from the Arts District, arguably it’s own neighborhood that deserves its own statistics. In stark contrast to the rest of DTLA you find huge spaces converted from factories and shipping enterprises.
You have the coveted PH in front of your unit number. And probably a butler. Downtown L.A has some beautiful homes for sale!
In total, 156 properties were sold in Downtown Los Angeles during this period, with an average DOM of 44 days. The market displayed its diversity, with a minimum sold price of $260,000 and a maximum of $4,202,500. The average sold price stood at $778,435, with the median price at $665,000.
Downtown Los Angeles’ real estate market is indicative of its highly polarizing community and essence of big city living. Fortune 500 owners rubbing shoulders with artists is a daily occurrence and you can see that in the disparity of sold prices. The average DOM is 44 days but you’re more likely to encounter units sitting for longer. This is an excellent time for downtown L.A cash buyers to strike. For specific inquiries or personalized advice on Downtown Los Angeles properties, consider reaching out to us here at The Shelhamer Real Estate Group. Stay tuned for future updates as we continue to monitor and analyze the evolving trends in the Downtown Los Angeles real estate market. There are some incredible downtown L.A homes for sale!
I am a Californian born here in Los Angeles. As a top graduate of the AACSB internationally accredited California State University of Los Angeles School of Business and Economics, I have accelerated my career as a residential real estate advisor by combining my passion for California history, writing, architectural preservation, and extensive sales background. My marketing and negotiation skills, combined with community outreach have helped me build a solid reputation with our clients.
I am a Senior Real Estate Specialist (SRES®) working closely in the communities that we serve with our mature clients. When I am not listing or selling some of California’s finest homes, I turn my focus to early 20th-century California collectibles. My e-commerce business Golden State Decor on Etsy celebrates the rich history of the Golden State with one-of-a-kind procured items while contributing directly to the California Conservation Corps Foundation.
A Californian born here in Los Angeles, David has spent his whole life in California. As a top graduate of the AACSB internationally accredited California State University of Los Angeles School of Business and Economics, he has accelerated his career as a residential real estate advisor combining his passion for California history, writing, architectural preservation, and extensive sales background.
David is a Senior Real Estate Specialist (SRES®) holding certifications in Probate and Trust Sales and Accessory Dwelling Units. His marketing and negotiation skills, joined with community outreach have helped him build a solid reputation with his clients.
Recently he represented a record-breaking sale for the most expensive home ever sold in Echo Park at 744 Sq. Ft. On the buying side, he knows the terrain, from negotiation, strategy, emerging markets, and the geographic pockets where the hidden gems lay. He continues to empower his clients with this knowledge, helping them get closer to building wealth and financial independence.
When David isn’t listing or selling some of California’s finest homes, he turns his focus to early 20th Century California antiques and collectibles. His e-commerce business Golden State Decor on Etsy celebrates the rich history of the Golden State with one-of-a-kind procured items while contributing directly to the California Conservation Corps Foundation.