The annual USC effect came and went again this year. As expected, leasing activity picked up in the spring before slowing as students settled in for the fall semester. Historically, that demand spills over into condo sales as well, but this year buyers largely stayed on the sidelines.

The South Park condo market weakened further this period as inventory increased, sales activity slowed, and pricing reset lower. This monthly column tracks key metrics within the South Park BID boundary to provide a consistent view of supply, pricing, and buyer activity in the neighborhood.

Downtown Los Angeles — the city’s true urban core — has weathered more than its share of ups and downs since the loft renaissance of the early 2000s. This year, however, has been one of the toughest sales seasons in recent memory. What is usually a busy spring and summer simply didn’t materialize. Condo sales across DTLA dropped nearly 20%, listings spiked by 30%, and units sat on the market three times longer than average. For both agents and sellers, it’s been a head-scratcher.