While "days on the market" are averaging about 30-45 days in DTLA, it's still a seller's market. The problem lately is that sellers are pricing too high. They think that the price of their condo is 25-50k more than the market value. This is causing buyers to disregard those properties or low ball. The worst scenario is when in escrow, the appraised value is lower, so the seller is often "forced" to lower the price or the buyer backs out. Not a good situation.
That said, properties are still selling though they aren't being snapped up within days.
We're at the highest price points in the last 10 years so is it a good time to sell? If you've made a killing, then yes, it might be time.
