While condos in LA’s prime markets retained their value during the quarter, sales volumes declined rather significantly. 805 transactions were recorded during the period, an 11.0% drop from Q2-16, signaling strong buyer holdback as they await new product anticipated to hit the market later this year. While average price fell 13.4% YoY to $860K, average PPSF rose 1.7% to $640/SF, yet another high water mark for condos in the city. Average days on the market dropped 5.2% YoY to 76 days. Please note that all references to condo sales include only listings closed at $500K or above. Value or valuation refers to PPSF in this report.