Koreatown home sales picked up in Los Angeles Koreatown in September as mortgage rates eased and the market turned more favorable to buyers. A total of 74 homes changed hands, up 10% from 67 a year earlier, according to an analysis based on data provided by Korean American brokerage company Dream Realty.
The increase came from stronger activity in single-family and income properties. Single-family sales reached 37, up 42% from 26 a year ago. With more listings on the market, the median closing price slipped 8% to $1.53 million from $1.66 million. Average days on market fell to 28 from 51, and the sale-to-list ratio edged down to 98.92% from 99.08%.
Condos remained weak. Closed sales fell to 20 from 29 (-31%), and average days on market lengthened to 47 from 25. The median condo price declined 11% to $670,000 from $749,000, reflecting softer investor demand and higher HOA costs.
Income properties posted sharper gains. Transactions rose to 17 from 12 (+42%). The median price climbed 38% to $1.795 million, though results can vary widely by property due to differences in unit mix, condition, and location.
Kenneth Chung of Dream Realty said lower borrowing costs and a modest rise in listings brought more sellers back to the market and eased pressure on buyers, helping lift activity year over year.
This Koreatown home sales snapshot covers ZIP codes 90004, 90005, 90006, 90010, 90019, 90020, and 90036.
BY HOONSIK WOO [woo.hoonsik@koreadaily.com]
