Buying A Condo In Los Angeles 2017 May 2026

Not all buildings were eligible for all types of financing. For example, FHA loans often required at least 50% owner-occupancy within the complex.

A severe shortage of homes for sale pushed prices up, with Los Angeles County ending 2017 with a 10.6% year-over-year increase in median house prices. Strategic Tips for Buyers buying a condo in los angeles 2017

Beyond the mortgage, buyers had to factor in monthly HOA fees—typically ranging from $250 to over $1,200 depending on luxury amenities—and property taxes, which averaged an effective rate of 0.66% in LA. Popular Neighborhoods (2017) Neighborhood 2017 Median Condo Price (Approx.) Notable Trend Venice $1.3 million Highest median price for areas with 10+ sales. Mid-Wilshire One of the biggest price gainers (+25%). Pacific Palisades $1.1 million Strong luxury demand with a 22% price increase. Downtown LA Not all buildings were eligible for all types of financing

Popular for urban lifestyle, though sales often closed below list price. Strategic Tips for Buyers Beyond the mortgage, buyers

In 2017, buying a condo in Los Angeles was a strategic alternative to the increasingly expensive single-family home market. The year was marked by a healthy, rising market driven by strong demand and limited supply, with condo prices heating up across various neighborhoods. 2017 Market Overview & Pricing

Experts and market reports from that period highlighted several critical factors for prospective condo buyers: