A new median price record is set for DTLA to the ocean.

A new median price record is set for DTLA to the ocean.

August 17, 2018

While the median sales price for SoCal hovers around $540,000, figures released this week by the Multiple Listing Service (MLS) showed a “local” (DTLA to the ocean) median price cresting $1,300,000.

When comparing 2018’s 2nd quarter with that of the 2 previous years, the median price for single family homes rose from $1,046,350 in 2016, to $1,200,000 in 2017, to $1,301,000 this year (an all-time record). The total volume sold in the same area in 2018 was $4,290,829,959, up from 2017’s $4,244,675,603 and 2016′s $3,607,109,378.

According to the MLS, the median price for condos from DTLA to the ocean was $827,250 in 2018’s 2nd quarter, up from $730,000 in 2017 and $707,500 in 2016. The volume of condos sold in 2018 dropped from 2017’s numbers: Q2 of 2018 was $1,135,142,090, while 2017 peaked at $1,299,799,971. 2016 totaled $1,121,733,487.