You don't have to tell Los Angeles buyers that prices have been rising but The MLS Blog recently tallied up the median prices of condos and co-ops sold during Q4 2016 to find out which specific neighborhoods might be rising faster than others.

No neighborhood saw a bigger price uptick than Ladera Heights where the median price jumped from $411,349 to $569,444 over the course of a year. Of course, the sample size was a mere two units sold in 2015 and four in 2016, so you have to take that into account. The same could be said of Bel-Air and Holmby Hills, which saw 37 percent increases from 2015 t0 2016 with only two sales in each year to account for the price hike.

If you’re looking for neighborhoods that saw larger quantities of sales coupled with big price hikes, you’ll have to look to Silver Lake-Echo Park, Park Hills Heights, Beverlywood, Hancock Park, and Sunset Strip. These neighborhoods all saw double-digit unit sales and prices increases from 20 to 30 percent.

So if we know which neighborhoods went up in price, where can we find LA neighborhoods where prices stayed flat or even went down? For all of it’s hype, Downtown LA actually only saw 1 percent growth with a $544,000 median price. Prices actually dipped (slightly) in Brentwood, Santa Monica, Marina Del Rey, and Venice, but it should be noted these are still among the most expensive condo hotspots in the city.

The MLS Blog

Perhaps the most surprising neighborhood on the list is Hollywood, which saw robust sales (31 in 2016, up from 25 in 2015) but watched the median sale price drop from $650,000 to $605,000. That’s still out of a lot of people’s price range but seven percent is a noticeable dip.

The neighborhood that most matched affordability with falling prices? Lincoln Heights. The densely-populated community saw seven sales in Q4 2016 and a median sale price of $360,000, down 13 percent from a year prior.

Sources:

Q4 Median Sales for Condos & Co-Ops [MLSBlog]

Here’s where condo prices are on the rise in LA [Curbed LA]