By Q3 2017, the median sale price for residential properties in LA County reached $555,000 , a significant increase from previous years.

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

Popular for urban lifestyle, though sales often closed below list price.

Experts like Josh Flagg emphasized buying for the view , noting that while buildings age, a premium view remains a primary driver for resale value decades later.

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

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