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
$275,000 : 308 N Mountain View Avenue, Los Angeles2 beds, 1 full bath
$699,000 : 2127 OAK GLEN Place, Los Angeles2 beds, 2 full baths
$991,490 : 2924 Rowena Avenue , Unit 3, Los Angeles3 beds, 3 full, 1 half baths
$898,490 : 2922 Rowena Avenue , Unit 1, Los Angeles2 beds, 2 full, 2 half baths
$1,075,000 : 1416 N OCCIDENTAL Boulevard, Los Angeles3 beds, 2 full baths
$579,000 : 1699 GRIFFITH PARK, Los Angeles2 beds, 1 full bath
$925,000 : 1508 BAXTER Street, Los Angeles2 beds, 1 full, 1 three-quarter baths
$750,000 : 2924 Van Pelt Place, Los Angeles2 beds, 2 full baths
$675,000 : 2215 SCOTT Avenue, Los Angeles3 beds, 2 full, 1 half baths
$880,000 : 1347 SUTHERLAND Street, Los Angeles3 beds, 1 full, 1 three-quarter baths
$1,300,000 : 1886 SILVER LAKE Boulevard, Los Angeles3 beds, 2 full, 1 three-quarter baths
$789,000 : 2621 GLENDALE, Los Angeles3 beds, 1 full, 1 three-quarter baths
$899,000 : 1758 N EASTERLY Terrace, Los Angeles2 beds, 1 full bath
$619,000 : 1217 N HOOVER Street, Los Angeles1 bed, 1 full bath
$1,295,000 : 1742 REDCLIFF Street, Los Angeles3 beds, 3 full baths
See all Silver Lake and Echo Park Homes for Sale.
(all data current as of 6/27/2016)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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