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MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC<br />
PAGE 5<br />
Active <strong>Condominium</strong> Inventory<br />
Figure 10 shows the inventory of unsold new condominiums (red) and active resale listings (dark gray) in <strong>Los</strong> <strong>Angeles</strong> for<br />
the month of May since 2010. Currently, there are 733 unsold new condominiums on the market, a 136.5 percent increase<br />
in unsold new condominiums from the same time last year. The majority of the new unsold inventory is in Metropolis, Phase<br />
I & Phase II.<br />
FIG 10. CONDOMINIUM INVENTORY COMPOSITION<br />
2,000<br />
Number of Units Available<br />
New Construction<br />
Resales<br />
Total Units<br />
1,000<br />
0<br />
Source: The MLS, Polaris Pacific<br />
2012 2013 2014 2015 2016<br />
Year<br />
Annual Multi-Family Completions<br />
Figure 11 shows total annual multi-family completions of both apartments and condominiums in <strong>Los</strong> <strong>Angeles</strong>. As shown,<br />
condominium completions have declined each respective year since 2007, when 1,990 completions occurred. However,<br />
there was a surge in apartment deliveries in 2014 through 2015.<br />
FIG 11. TOTAL ANNUAL MULTI-FAMILY COMPLETIONS<br />
Units<br />
5,500<br />
5,000<br />
4,500<br />
4,000<br />
3,500<br />
3,000<br />
2,500<br />
2,000<br />
1,500<br />
1,000<br />
500<br />
0<br />
Apartments<br />
Condos<br />
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015<br />
Source: Polaris Pacific<br />
Year<br />
LOS ANGELES MARKET REPORT, MAY 2016
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