Let’s compare the Silver Lake and Echo Park real estate market in the 1st Quarter 2012 against the same period last year. At present it is difficult to accurately split the two markets as the MLS combines them. However, I hope soon to be able to do that since Echo Park and Silver Lake are two distinctly different communities.
The numbers are taken from the MLS/CLAW and are deemed reliable but not guaranteed. Also, they reflect single family home sales only.
Number Sold: 69, a 32.69% increase over the same period last year.
Median Price: $520,000, a 5.7% increase over the same period last year.
With the 70 active listings and and average of 23 homes sold per month, the number of months it will take to sell the existing inventory (absorption rate) will be 3.04. A stable market is 6 months worth of inventory and anything below that is a sellers’ market. Silver Lake and Echo Park home sellers should be seriously considering putting their homes on the market.
Buyers are out there, mortgage rates are low, inventory is low. The perfect storm.
Homes for sale in Silver Lake and Echo Park
$614,900 : 704 Bernard Street, Silver Lake3 beds, 3 full baths
$889,000 : 2201 Clifford, Los Angeles3 beds, 2 full, 1 half baths
$949,000 : 1617 EDGECLIFFE Drive, Los Angeles2 beds, 2 full baths
$769,000 : 1873 LAKE SHORE Avenue, Los Angeles3 beds, 1 full, 1 three-quarter baths
$598,000 : 244 N Park View Street, Los Angeles3 beds, 1 full bath
$1,089,000 : 722 LUCILE Avenue, Los Angeles3 beds, 3 full baths
$1,750,000 : 4136 Normal Avenue, Los Angeles10 beds, 15 full baths
$2,500,000 : 3421 LANDA Street, Los Angeles3 beds, 3 full, 1 half baths
$1,049,000 : 1383 EDGECLIFFE Drive, Los Angeles3 beds, 2 full baths
$849,000 : 1149 MANZANITA Street, Los Angeles2 beds, 1 full bath
$1,295,000 : 1888 ECHO PARK Avenue, Los Angeles4 beds, 1 full, 1 three-quarter baths
$1,399,000 : 2248 KENILWORTH Avenue, Los Angeles3 beds, 2 full baths
$599,000 : 1914 Rosebud Avenue, Atwater Village1 bed, 1 full bath
$849,000 : 212 WELCOME Street, Los Angeles3 beds, 1 full, 1 three-quarter baths
$998,000 : 2470 ECHO PARK Avenue, Los Angeles2 beds, 1 full, 1 three-quarter baths
See all Silver Lake and Echo Park Homes for Sale.
(all data current as of 4/29/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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