Since the crash in 2008, the market has been steadily increasing in L.A. and downtown in particular. There's a lot of speculation about what's to come in 2017. Interest rates are supposed to be lowered, causing more demand for houses and as a result, prices to continue going up.
So will it be a good time to sell?
- Yes.
Should I rent out my condo?
- If you're planning on renting out your unit, then expect a lot of competition from the many rentals that will be on the market so your place may sit longer than 30 days on the market before getting rented.
Will it be a good time to buy?
- If you're planning on holding for 3-5 years then yes.
- If you're planning on flipping in 1-2 years, then no.
Year Average Sold Price/SF
2016 $636/SF
2015 $614/SF
2014 $554/SF
2013 $494/SF
2012 $384/SF
