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.
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.