How Many Condos Sold in LA County?

Earlier in the week we gave a chart of how many homes had sold in Los Angeles County. Now Los Angeles county is a rather large area and covers many different cities. Today though we thought we would chart what is happening with condos in Los Angeles County. Not all cities have condos but many do as a result of the density of population of the area that we live in here in Southern California. While there is no list of all cities that have condos a few of the cities that have condos in Los Angeles county are as follows: San Monica, Redondo Beach, Torrance, Marina Del Rey, Long Beach, Signal Hill, Norwalk, Cerritos, and Lakewood. Now keep in mind this is not a complete list but it still shows that within Los Angeles County there are plenty of cities that have condos that people can purchase.

From the chart we can see a few things.

• Sales of condos are not as far off as those of homes. We believe the reason for that is affordability. Condos tend to be far more affordable than homes.
• Less condos are being sold than 2007 and probably less condos will sell in 2008 but that does not mean that prices are decreasing. The affordability of condos allows owners to possibly rent them out and retain ownership.
• What doesn't show up in the chart is there are still many new brand new condo buildings being built and condo conversion projects that will keep interest in the condo product.

Condos are still selling and even if less condos are selling there are less homes being sold but the values are not decreasing by 100% or falling back to prices in 2001 as some have said.