LOS ANGELES—Condominium prices increased inDowntown Los Angeles, San Francisco and Downtown Seattle in April2014 over the previous year, according to the a measure releasedthis week by The Mark Company, a leading urbanresidential marketing and sales firm.

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The Mark Company Condominium Pricing Index for Aprilwas up 8% year over year in Downtown Los Angeles, 19% higher in SanFrancisco, and up 16% in Downtown Seattle.

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“Low inventory and strong demand are resulting in a steadyincrease in prices in all three markets,” notes ErinKennelly, senior director of research, The Mark Company.“San Francisco and Downtown Seattle in particular have experiencedstrong gains so far this year.”

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In Downtown Los Angeles, the CondominiumPricing Index for April was $650 per square foot, which is up 1%from March. New construction inventory was 67% lower than a yearago, and down 19% from the previous month.

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The Downtown Seattle Condominium Pricing Indexwas $729 per square foot, which is unchanged from March. Newconstruction inventory in Downtown Seattle was more than 1,000%higher than a year ago, but down 11 percent from the previousmonth, with 233 units available.

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The Condominium Pricing Index, part of the firm's monthlyTrend Sheet (available at www.themarkcompany.com),represents the price per square foot of a new 10th floor,1,000-square-foot condominium. It is based on recent salesdata, and uses a proprietary quantitative method to measure trendsin market demand. It tracks the value of a new constructioncondominium without the volatility of inventory changes.

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The Mark Company Penthouse PricingIndex, which applies the same methodology to a new30th floor, 2,000-square-foot condominium (1,000 square feetin Downtown Los Angeles), was $1,051 per square foot in DowntownLos Angeles in April, up 8% year over year; $1,915 per square footin San Francisco, up 19 % from last year; and $1,128 per squarefoot in Downtown Seattle, up 16% year over year.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.