Los Angeles Market Pulse – August 2025

The housing market in Los Angeles is showing a split personality. On one side, ultra-luxury homes north of Montana in Santa Monica and across prime L.A. neighborhoods are selling within days, often to cash buyers who are less sensitive to interest rates. Realtor.com reports that from January through May 2025, nearly 1 in 4 Los Angeles homes between $1M–$5M sold in cash, and more than half of homes above $5M closed without financing. This activity is fueled by celebrities, international buyers, and high-net-worth investors—along with Pacific Palisades buyers displaced by the recent fires, many of whom are entering the Santa Monica, Brentwood and Beverly Hills luxury market.

Meanwhile, the condo market tells a different story. Inventory is climbing, and some listings are lingering on the market for months, sometimes more than 400 days, before price adjustments or niche buyers bring them to contract. Sellers in this segment must be sharp with pricing and presentation to attract offers.

Los Angeles Condo vs. Home Market Report (Westside Focus) – 2025

The Los Angeles housing market in 2025 shows a clear divide between condos and single-family homes (SFRs). While homes are selling at record speed—especially in the mid-tier and luxury segments—condos remain more price-sensitive, often requiring sharper pricing and longer marketing times.

Below is a city-by-city analysis of how condos are performing against SFRs in the Westside.

Brentwood 90049

• Condos: Average $1M–$1.5M, typically $700–$900 per square foot(PPSF), Days on Market (DOM) often stretch to 50–80+ days, unless newly renovated or aggressively priced.

• Homes: Luxury estates dominate, selling from $3M–$12M+. Many turnkey listings close in under 30 days. PPSF averages $1,200+, with trophy homes exceeding $2,000/ft.
  Takeaway: Brentwood homes are moving quickly, especially renovated stock, while condos are more value-driven and slower to close.

Cheviot Hills / Rancho Park 90064

• Condos: Entry-level units around $600K–$900K. Price per square foot averages $600–$800. DOM is typically 30–60 days, reflecting steady demand from first-time buyers.

• Homes: Family homes in the $2M–$4M range sell briskly, often within 10–20 days. New builds above $5M take longer (60+ days).
  Takeaway: Condos are the affordable entry point, but single-family homes in Cheviot Hills remain a fast-moving, competitive market.

Mid-City 90016

• Condos: Limited supply, generally under $1M. Price per square foot in the $500–$700 range. Days on the market averages 50–90 days.

• Homes: Starter and character homes under $1.5M are red hot, often closing in 7–15 days with multiple offers. Higher-end ($2M+) homes take longer (40–60 days).
  Takeaway: Single-family demand far outpaces condos. Turnkey Mid-City homes are flying off the shelves.

Miracle Mile 90019

• Condos: Priced $800K–$1.2M, Price per square foot $850–$950. Days on the market vary widely: new units sell in 20–30 days, older towers linger 100+ days.

• Homes: Tight inventory keeps demand high. Homes under $2M often sell in under 20 days. Larger properties ($2.5M–$3.5M) need 40–70 days.
  Takeaway: Condos sell unevenly depending on upgrades, while homes—especially character properties—move quickly when priced right.

Venice 90291

• Condos: $1.2M–$2M range, PPSF around $1,000–$1,200. DOM is 30–80 days; lifestyle condos (Navy St, Rose Ave) attract premiums but can still take weeks.

• Homes: SFRs under $2M are highly competitive, often closing in 10–20 days. Luxury homes ($3M–$5M+) take longer, sometimes 90–150 days.
  Takeaway: Venice homes trade faster than condos, especially in the mid-tier range where demand is strongest.

Palms / Mar Vista 90066

• Condos: $600K–$1M, Price per square foot $600–$800. Days on the market average 30–100 days as buyers negotiate harder on older stock.

• Homes: Family homes from $1.5M–$4M dominate sales. Many close in under 20 days when updated or renovated. PPSF averages $1,000–$1,300.
  Takeaway: Condos move at a moderate pace, but SFRs remain one of the fastest-selling segments in Palms and Mar Vista.

Santa Monica 90401–90405

• Condos: Downtown Santa Monica (90401) sees the fastest absorption (22 DOM avg). Luxury Ocean Ave units (90402) command high PPSF ($1,300–$1,800) but linger 100+ days. 90403/90404 mid-market condos average 40–70 DOM. 90405 condos move faster (30–40 Days on the market) due to lifestyle demand.

• Homes: North of Montana (90402) homes in the $5M+ range sell in 20–40 DOM. 90403 SFRs are among the fastest (9 DOM avg). 90405 SFRs in the $2M range close in 20–25 DOM.
  Takeaway: Santa Monica SFRs are moving much faster and commanding higher premiums. Condos face growing inventory but sell well when priced to comps.

Final Conclusion – Condos vs. Homes on the Westside

• Homes are outperforming condos across all ZIP codes. Turnkey single-family homes in Brentwood, Santa Monica, Cheviot Hills, and Venice are commanding multiple offers and selling in under 30 days.

• Condos remain price-sensitive. Updated, well-presented units in desirable areas sell in 30–60 days, but many linger for months if not aligned with recent comps.

• Key Insight: The demand for single-family homes in Los Angeles remains insatiable. Condos provide affordability and options for first-time or lifestyle buyers, but sellers need realistic expectations, excellent presentation, and sharp pricing to achieve top dollar.

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Luxury and turnkey homes on the Westside are moving in under 30 days. Condos require a different finesse—pricing, presentation, and targeted exposure make all the difference. Whether it’s a villa in Santa Monica, an oceanview condo, or a Brentwood estate, I create a strategy to get your property in front of the right buyers and sold for top dollar.