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
$1,015,000 : 3022 Scotland Street, Los Angeles2 beds, 2 full baths
$1,350,000 : 1950 Lucile Avenue, Los Angeles3 beds, 2 full, 1 half baths
$995,500 : 2605 Scott Avenue, Los Angeles3 beds, 2 full baths
$950,000 : 1032 North Coronado Street, Los Angeles3 beds, 1 full, 1 three-quarter baths
$979,000 : 1761 Silver Lake, Los Angeles3 beds, 2 full baths
$920,000 : 1830 Griffith Park Boulevard, Los Angeles3 beds, 3 full baths
$1,097,000 : 2333 Effie Street, Los Angeles3 beds, 3 full baths
$1,750,000 : 1603 Angelus Avenue, Los Angeles3 beds, 2 full, 1 half baths
$835,000 : 2222 Princeton Avenue, Los Angeles2 beds, 1 full bath
$799,900 : 1326 Laveta Terrace, Los Angeles4 beds, 2 full baths
$720,000 : 2151 Clinton Street, Los Angeles3 beds, 1 full bath
$599,000 : 2108 Loma Vista Place, Los Angeles2 beds, 1 full bath
$939,000 : 811 Rosemont Avenue, Unit 2202, Los Angeles3 beds, 3 full, 1 half baths
$899,000 : 1814 Webster Avenue, Los Angeles2 beds, 2 full, 1 half baths
$819,900 : 1620 Armitage Street, Los Angeles3 beds, 2 full baths
See all Silver Lake and Echo Park Homes for Sale.
(all data current as of 2/6/2016)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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