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Luxury Condominiums Lure Los Angeles Buyers to Hot Market

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variety.com
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Kathy A. McDonald Condos are back in a big way in Los Angeles. Overall buyer demand, low interest rates and the continued lack of single-family home listings have pushed condominium prices to record levels.

According to Douglas Elliman’s third quarter 2021 report, the number of condo sales in Los Angeles reached their second-highest total on record in 2021.

And September saw a 13.9% year-over-year condo price increase in the L.A. metro area, per the California Assn. of Realtors’ sales data.In June, Matthew Perry sold his Century City condo for $21.6 million, while a penthouse along the exclusive Wilshire Corridor sold for $10.3 million.

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