Echo Park Real Estate Market Report – February 2011

Originally posted on March 28, 2011

If you are buying or selling Echo Park real estate, find out how the market is doing on a monthly basis.

Below are the annual statistics for Echo Park single family homes through February 2011.

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So how is the Echo Park real estate market doing?

The statistics to take note of are February 2010 and February 2011 as these take the seasonality out of the equation.  Be sure to click on each chart for more detail:

The median sold price is down only 2%.

The number of homes sold in Echo Park is up by 3.

Average days on the market of homes sold is up 50%.

The number of new homes on the market dropped by 3, but the total on the market is up by 6.

There is not too much difference in the median list price vs median sold price.  Echo Park home buyers and sellers seem to be on the same wavelength.

Here’s the good news for Echo Park home sellers, inventory is up 15% and buyer demand 75%.

With 3 months of inventory the Echo Park real estate market is most definitely a sellers’ market.

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