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Checking in on Wilshire Corridor Sales This Year

By
Real Estate Broker/Owner with Home Jane Realty BRE# 01439865

Wilshire Corridor

It has been a while since we have looked at what is for sale on the Wilshire Corridor.  Let's see how sales are going so far this year. 

Condo Building

Sold

Median Price

Active

Median Price

Absorption

Beverly West *

0

 

7

$5,304,450

N/A

Blair House 

2

$1,254,500

2

$2,025,000

10

Crown Towers

3

$405,000

3

$675,000

10

La Tour 

4

$2,010,000

5

$2,495,000

12.5

Marie Antoinette 

5

$429,900

4

$474,000

8

Park Wilshire 

7

$740,000

7

$998,000

10

Ten Five Sixty 

4

$970,500

6

$1,062,000

15

The Californian

3

$1,550,000

6

$2,895,000

20

The Carlyle **

1

$3,200,000

5

$2,550,000

50

The Churchill 

4

$422,000

2

$465,000

5

The Diplomat 

2

$875,000

0

 

-

The Dorchester 

1

$570,000

3

$685,000

30

The Grand 

4

$690,000

2

$757,000

5

The Longford 

1

$425,000

3

$899,000

30

The Mirabella 

5

$1,100,000

2

$1,167,000

4

The Regency Wilshire 

0

 

1

$1,165,000

133 days on market
The Remington 

5

$1,350,000

4

$2,862,500

8

The Venezia 

1

$1,200,000

0

 

-

The Westford

3

$975,000

1

$729,000

3.3

The Westholme

3

$360,000

3

$775,000

10

The Wilshire Manning 

2

$738,000

5

$970.000

25

The Wilshire

2

$1,305,000

5

$1,885,000

25

Wilshire Comstock

4

$385,000

2

$569,000

5

Wilshire Holmby

7

$425,000

1

$436,050

1.4

Wilshire House

3

$1,326,000

3

$1,900,000

10

Wilshire Marquis

5

$420,000

1

$550,000

2

Wilshire Regent

4

$542,500

5

$629,900

12.5

Wilshire Selby East 

3

$430,000

2

$429,450

6.7

Wilshire Selby West 

5

$315,000

1

$450,000

2

Wilshire Terrace 

4

$1,587,500

4

$887,500

10

Wilshire Thayer 

4

$660,000

2

$972,000

5

 

 

 

All information from the CLAW MLS is deemed accurate but is not guaranteed
 
*Beverly West has just opened its doors, so we will have to see how the sales go.  But right now, the units would seem to be extremely overpriced.

**The Carlyle sells a lot in-house, so the figures are not accurate.  Also, several units are being rented.

The median price reflects the mid-point of sales in the building.  Half sold over and half under that price.

The absorption rate is the number of months it will take to sell the remaining units in the building based on the previous months’ sales.

In general, the higher priced buildings are not moving and in some buildings units have been sitting on the market well over a year.  In La Tour for instance two condos have been sitting on the market for 2 years.

If you are interested in buying a condo on the Wilshire Corridor,  this would be a good time to look.

Search condos for sale on the Wilshire Corridor

 

 

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Read more: http://www.homejane.com/how-are-sales-going-on-the-wilshire-corridor.html#ixzz1bdBWvKKJ

Comments(11)

James Muhammad
RE/MAX Champions - Upland, CA
RE/MAX Vision

Jane, this is very, very good information about your market. It gives me a good idea as to what the rest of California outside of the Inland Empire and Rancho Cucamonga is dealing with.. Thank!

Oct 23, 2011 07:40 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

James,  thank you for stopping. by.

Oct 23, 2011 07:44 AM
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker Realty, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Great market update and information about this area.  It's really interesting to see how other agents in other markets present information like this.  Good job!

Oct 23, 2011 08:40 AM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

Jane - I agree, those Beverly West prices appear very optimistic.  Time will tell. 

Oct 23, 2011 08:47 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

This is a great report Jane!  And when I looked at the Beverly West I wondered why nothing was selling. My thoughts exactly ... may be a tad overpriced.  It certainly is the highest priced on the market for like-properties.  Again, great report!

Oct 23, 2011 08:47 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Laura,  thank you very much.

Norma,  it will indeed.

Carla,  Beverlly West just opened.  I wait to see the prices drop significantly.

Oct 23, 2011 09:23 AM
Doug Rogers
RE/MAX Coastal Properties - Destin, FL
Your Real Estate Resource!

Five million bucks for a single condo? That's some expensive Formica!

Oct 23, 2011 11:30 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Doug,  that's the median price.  The penthouse in that building is around $23M  :)

Oct 23, 2011 11:33 AM
Jack Mossman - The Nines Team at Keller Williams in Lodi
The Nines Team at Keller Williams in Lodi - Lodi, CA
The Nines Team in Lodi

Wow Jane ... these are numbers that are hard to get my head around ... our median SFR is $123,000!

Oct 23, 2011 01:11 PM
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Jane - Great real estate market report for what's been going on this year in the Wilshire Corridor.

Oct 23, 2011 01:27 PM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Jack,  oh dear 

Michelle,  thank you.

Oct 23, 2011 04:23 PM