Downtown Los Angeles’s new condo inventory continues to fall over the course of 2017.

According to the most recent trend sheet from the Mark Company, there were just 385 new condos available in Downtown LA in September — down 32 percent annually, and four percent month over month. Prices continued their year over year climb, up seven percent since September 2016, to $780 per square foot.

The low supply of new condos has given way to resales rising over the last year. The average price per square foot of September condo resales was $747 per square foot, up 21 percent in the last year (and 12 percent since August). September also saw 46 condo resales, which is a 70 percent increase from that time last year.

Much of the reasoning behind the low inventory lies in the housing crisis in LA, along with the rest of California. State Senate Bill 35 could potentially pave the way for more developments statewide (including downtown) and add to the available new inventory down the road. However, that bill only takes effect starting in January, and would still need the units to be built.