Apartment Trends
The most active trading of apartment houses in Los Angeles County took place on the Westside last year, where the average price was also the highest in the county. The Mid-Wilshire and Downtown markets posted the largest increase in sales activity.
Most Active Apartment Submarkets in 1998
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Submarket Number of sales Avg. price per unit Westside 171 $93,800 Glendale/Burbank/Pasadena 103 64,837 Van Nuys/North Hollywood 101 40,040 Hollywood 83 46,814 Mid-Wilshire 82 42,774 Santa Monica 67 132,065 Long Beach 50 38,298 Mid-Cities 50 34,874 South Bay 49 87,680 West San Fernando Valley 48 48,772
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Top Emerging Apartment Submarkets
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Submarket Number of 1998 sales % chg. from 1997 Mid-Wilshire 82 134% Downtown 35 106 South Los Angeles County 25 78 Mid-Cities 50 43 South Bay 49 32 Santa Monica 67 26 West San Gabriel Valley 44 26 West San Fernando Valley 48 23 East San Gabriel Valley 25 19 Sherman Oaks/Studio City 48 17
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Source: Comps Inc., Marcus & Millichap Research Services
