South Park Condo Market Snapshot September 2026 Signs of Life After a Quiet Summer
After an exceptionally slow summer, South Park finally showed some signs of life. Seven condominiums closed escrow during the past 30 days, compared with just one in the previous reporting period. Active inventory remained unchanged at 79 listings, and three additional properties are currently under contract.
Perhaps the most interesting statistic is days on market, which increased from 44 to 89 days. Rather than a sudden influx of desirable new listings, we are seeing properties that have been sitting on the market finally finding buyers.
Is Oceanwide Moving the Market?
The announcement that Oceanwide has entered escrow may be contributing to renewed confidence in South Park. After years of uncertainty surrounding the unfinished development, any meaningful progress is welcome news for the neighborhood.
Whether that announcement contributed to September's increased sales activity or we are simply seeing the normal return of buyers following the summer slowdown is difficult to determine. Closed sales generally reflect decisions made weeks earlier, and one month of improved activity does not establish a trend.
Still, after August's near standstill, it is encouraging to see older inventory moving again.
Pricing and Leasing
Average sold price per square foot declined from $808 to $518, but that comparison requires context. August's figure reflected a single Ritz-Carlton closing, while September's seven transactions were largely concentrated in more affordable inventory. The median sold PPSF was $523.
Leasing also improved. Eight condos leased during the past month, double August's four transactions, while available condo lease inventory declined to 34 units. Five additional leases were under contract.
The simultaneous increase in sales and leasing activity suggests renewed residential interest in South Park, although it is too early to attribute that activity to any single development.
Looking Ahead
Interest rates will likely play an important role in determining whether this momentum continues. Three condos are currently under contract, and those buyers may have secured financing under more favorable conditions. Future buyers will face whatever lending environment awaits them when they are ready to purchase.
For now, inventory remains plentiful, sellers are negotiating, and buyers continue to have opportunities we haven't seen in years.
September gave us something that has been missing from the downtown market lately: movement. Whether this is the beginning of a sustained recovery or simply a return from an unusually quiet summer remains to be seen. October's numbers should give us a better indication.
About the Author
Michael Robleto is a Realtor® with Compass and has called South Park home since 2009. He specializes in downtown Los Angeles condominiums and architectural homes across Los Angeles, including Pasadena, Los Feliz and Highland Park. Michael serves on the Board of Directors for the South Park Neighborhood Association and as Chairman of Pasadena Heritage. His monthly South Park Condo Market Snapshot combines MLS data with firsthand local market insight to help residents understand the forces affecting South Park real estate.