LA Koreatown Home Sales Plateau in July Following Strong First-Half Momentum
Housing market momentum in Los Angeles Koreatown slowed in July following a solid first half of the year.
An analysis of sales data provided by Dream Realty revealed that 74 homes were sold across Koreatown in July—matching the exact transaction volume recorded in July of the previous year. The flat performance marks a clear shift from the first six months of the year, when total transactions surged 12% year-over-year.
The market analysis covers housing activity within zip codes 90004, 90005, 90006, 90010, 90019, 90020, and 90036.
Single-Family Home Prices See Significant Adjustments
Single-family home transactions totaled 31 units in July, reflecting a minor 3% decline (down one unit) compared to the previous year.
While overall transaction counts remained relatively flat, values experienced notable downward movement. The median sales price for single-family homes dropped 21% to $1,385,000, while the average price per square foot fell by an identical 21%.
Despite lower prices, properties sold faster. The average days on market (DOM) fell from 35 days last year to 28 days, representing a 20% acceleration in transaction speed. Market analysts attribute the faster turnaround alongside lower median values to concentrated buyer demand around price-adjusted listings.
Condos Experience Longer Days on Market While Income Properties Gain Volume
Condominium sales remained flat at 20 units in July. The median sales price for condos rose 5% year-over-year to $754,000, though the average price per square foot decreased 11% to $594.28—indicating that larger units made up a greater share of total transactions.
Condos took significantly longer to close compared to single-family properties:
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Days on Market: Increased 56% year-over-year from 45 days to 70 days.
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Sale-to-List Price Ratio: Declined from 100.4% down to 96.44%, pointing to expanding negotiation leverage for prospective buyers despite higher nominal median prices.
Income-generating residential properties were the sole segment to post volume growth, edging up 5% from 22 units last year to 23 units in July.
Prices for income properties softened across the board. The median price fell 21% to $1,270,000, while the average price per square foot dropped 12% to $354.84. Concurrently, the average days on market shrank 40% to 55 days, signaling swift absorption for lower-priced multi-unit listings.
Commenting on local trends, Kenneth Jung, CEO of Dream Realty, noted that lower listing prices paired with reduced time on market are encouraging signals. He added that if seller price adjustments persist, sideline buyers may re-enter the market to drive a recovery in transaction volume.
