LA Koreatown home sales remained largely flat in 2025, even as mortgage rates trended lower, as a sharp drop in condo transactions offset gains in single-family and income-property deals.
A total of 821 homes were sold in LA Koreatown in 2025, up just 0.6%—or five homes—from 816 in 2024. Transactions increased for single-family homes and income-producing properties, but condo sales fell by double digits and weighed on the overall total. The analysis is based on data provided by Dream Realty.
Local real estate industry sources said demand for single-family homes increased as rates moved lower, and investment-driven income-property transactions showed signs of recovery. They said the condo market struggled as HOA costs rose and condos became less attractive for investors.
Single-family home transactions totaled 382 in 2025, up 16% from 328 in 2024. The median sale price was $1,743,618, down 1% from $1,755,000 a year earlier. The average sale price per square foot rose 3% to $879.27 from $852.59, a shift attributed to a higher share of smaller, higher-priced homes changing hands. Average days on market fell to 37 from 40, a 9% decrease. The sale-to-list price ratio was 98.89%, similar to the prior year’s 98.68%.
The condo market posted a clear downturn. Condo transactions fell to 221 in 2025 from 293 in 2024, a 25% drop. Average days on market increased to 54 from 41, up 33%. The median condo price slipped 5% to $697,500 from $733,023. The average price per square foot declined 4% to $628.49 from $652.63. The sale-to-list price ratio fell to 98.01% from 98.68%.
Income-producing properties performed better. Transactions rose to 218 in 2025, up 12% from 195 in 2024. Average days on market increased to 63 from 55, up 14%. The median sale price climbed 3% to $1,626,750 from $1,583,750. However, the average price per square foot dropped 11% to $384.41 from $433.49, a pattern industry sources said suggests a greater share of lower-priced properties sold. The sale-to-list price ratio was 98.55%, down from 98.79%.
Kenneth Chung, CEO of Dream Realty, said 2025 showed a “stable recovery centered on single-family homes” alongside a weak condo market. He said overall transaction activity could rise noticeably if interest rates fall further and the investment environment improves.
The LA Koreatown analysis covers ZIP codes 90004, 90005, 90006, 90010, 90019, 90020, and 90036, and results may differ from housing activity in other parts of the neighborhood.
BY HOONSIK WOO [woo.hoonsik@koreadaily.com]
