Here we are at the end of the 1st Qtr on the Wilshire Corridor, and the numbers aren’t good. Of the 11 buildings that I track at www.wilshirecorridor.com <http://www.wilshirecorridor.com> only 12 units were sold, amount to $20.612M and averaging $1.718M, or 92.77% of the Listed Price . That’s an average of $564.08/sq ft and 103 days on the market. This compares to same period last year, when only 11 units were sold, averaging $1.216M or 92.77% of the Listed Price, and $609.30/sq ft. If you remove the $9.2M Penthouse sold in The Remington, numbers change dramatically. The average drops to $1.037M from $1.718M, averaging $473/sq ft from $564. Wow, what a difference! The truth of it is that we are basically in the same market we were one year ago, despite higher employment and stronger consumer confidence.
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About Lynn and Mark Rogo
Respected throughout the brokerage community for their honesty, integrity & strong work ethic, Mark & Lynn Mirisch Rogo are proud to offer the highest caliber of personal service that delivers results. Mark brings to his career extensive knowledge & experience in finance, business management & real estate investments that give him a definite edge in today’s competitive marketplace. As a lifelong resident of Beverly Hills & Westwood, Lynn has widespread knowledge of the marketplace, giving her a definite edge in helping buyers & sellers achieve their goals.
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