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
$899,000 : 1320 ANGELUS Avenue, Los Angeles2 beds, 1 full bath
$899,000 : 522 N Bonnie Brae Street, Los Angeles2 beds, 1 full bath
$895,000 : 1737 SILVERWOOD Terrace, Los Angeles3 beds, 3 full baths
$848,000 : 1743 GRIFFITH PARK BLVD, Los Angeles2 beds, 1 full bath
$700,000 : 3418 London Street, Silver Lake2 beds, 1 full bath
$865,000 : 1347 SUTHERLAND Street, Los Angeles3 beds, 2 full baths
$1,399,000 : 1859 Mccollum Street, Silver Lake5 beds, 3 full baths
$899,000 : 2110 INDIA Street, Los Angeles4 beds, 3 full baths
$499,900 : 1086 W Edgeware Road, Los Angeles1 bed, 1 full bath
$559,000 : 2712 GLASSELL Street, Los Angeles2 beds, 1 full bath
$975,000 : 1354 CORONADO Terrace, Los Angeles4 beds, 2 full, 1 half baths
$939,000 : 2024 VESTAL Avenue, Los Angeles2 beds, 3 full baths
$619,000 : 1052 Figueroa, Los Angeles1 bed, 1 full bath
$679,000 : 843 MALTMAN Avenue, Los Angeles1 bed, 1 full bath
$589,000 : 1240 LILAC Place, Los Angeles1 bed, 1 full bath
See all Silver Lake and Echo Park Homes for Sale.
(all data current as of 1/20/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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