Here are my updates for February 17, 2014
The Most and Least Expensive Downtown Lofts of 2013
The Loftway Report, produced by broker/real estate consultant Christiano Sampaio using data from the MLS, offers a year-in-review look at the market for condos and apartments in Downtown, and the main takeaway for 2013 is that prices for everything went up, up, up. According to Sampiano, lots of cash buyers raised prices and values in many of the buildings in Downtown. The report shows that the average price per square foot for condos was $458, with the most expensive being (no surprise) the Ritz-Carlton Residences ($907 per square foot), followed by Luma South ($613) and Elleven ($573), all in South Park. But there were still some reasonable deals at the Little Tokyo Lofts, SB Lofts in the Historic Core, and Alta Lofts in Lincoln Heights, which all averaged between $250 and $300 per square foot. Little Tokyo Lofts also had the lowest sale in Downtown last year: $160,000 and Ritz-Carlton once again had the highest: $4.05 million. The Arts District’s Molino Lofts were the least expensive place to lease, with units at $1.65 per square foot, and the—yep—Ritz units were the most expensive at $3.95 per square foot.
Senior Director, Coldwell Banker New Homes Division
With over 200 condominium, townhome and loft projects successfully marketed
“Fewer properties for sale with such remarkably low interest rates make it a great time to sell but a more difficult time to buy”