It’s been a tough year for the market, Covid, Elections, and Protests. Most people were expecting the market to drop a lot, and it did in some parts like New Yor and San Francisco, now in other parts, the market is booming.
In Los Angeles the market is divided, houses under $2,000,000 are on fire and selling with multiple offers, but the high-end market and condos are slower. Condos are very slow all over town, but especially in Downtown LA. At the moment this dense type of housing is not in. With Covid, people seem to want more space and to be closer to nature.
Even in the same building, you can tell the difference. Take the Market Lofts as an example, there are a lot of units for sale and only a few are selling. Now all the ones that sold have a balcony or a patio. The ones where the outdoor is nonexistent and very small are just sitting there.
Conclusion: Outdoor space and outdoor amenities are in now and these units are selling before the others and for more.
