Desire for No-Fuss Living Fuels Boom in Los Angeles Condo Demand

Driven by the scarcity of single-family homes and a desire for the amenities of five-star resorts, buyers in Los Angeles propelled the luxury condo market to record highs in the fourth quarter of 2021.

“The limited supply and high demand have broadened buyers’ perspective of what we call home,” said Sandra Eaton, regional director West Coast at Compass. “The amenities—concierge and valet service, outdoor spaces, high ceilings and security—have shaped buyers’ views in a positive way toward condos and the benefits of condo living.”

She noted the small supply of ultra-luxury condos, which comprise only 8% of the market, has further fueled the explosive growth.