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
$1,198,000 : 1911 CERRO GORDO Street, Los Angeles2 beds, 1 full, 1 three-quarter baths
$999,500 : 1320 Angelus Avenue, Silver Lake2 beds, 1 full bath
$1,350,000 : 2269 COVE Avenue, Los Angeles4 beds, 3 full baths
$2,598,000 : 2330 HIDALGO Avenue, Los Angeles5 beds, 3 full, 1 three-quarter baths
$999,000 : 3206 BERKELEY Avenue, Los Angeles2 beds, 1 full bath
$1,599,000 : 1656 SARGENT Place, Los Angeles4 beds, 2 full baths
$995,000 : 1133 SANBORN Avenue, Los Angeles3 beds, 2 full baths
$1,299,000 : 1311 Tularosa Drive, Los Angeles3 beds, 2 full, 1 three-quarter baths
$1,059,000 : 724 1/2 LUCILE Avenue, Los Angeles3 beds, 3 full baths
$898,000 : 1839 Lucretia Avenue, Los Angeles2 beds, 1 full, 1 half baths
$799,900 : 1143 SANBORN Avenue, Los Angeles2 beds, 1 full bath
$789,000 : 2207 POLYSCOPE Place, Los Angeles2 beds, 2 full, 1 half baths
$559,000 : 2740 GLASSELL Street, Los Angeles2 beds, 2 full baths
$690,000 : 2147 CLINTON Street, Los Angeles2 beds, 1 full bath
$998,000 : 2855 EFFIE Street, Los Angeles2 beds, 2 full baths
See all Silver Lake and Echo Park Homes for Sale.
(all data current as of 12/6/2016)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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