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Elliman Report: Los Angeles Sales 2Q 2017

The Los Angeles West Side and Downtown housing market showed heavy sales volume and sliding inventory this quarter. There were 1,806 sales, up 25.1% from the year ago quarter to the highest level in the 14 years of this data series. There were 2,732 listings in inventory, down 4.3% over the same period. As a result, the pace of the market was brisk. The absorption rate, the number of months to sell all listing inventory at the current rate of sales, fell to 4.5 months from 5.9 months in the year ago quarter…

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