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
See all Silver Lake and Echo Park Homes for Sale.
(all data current as of 3/27/2015)
$829,000 : 1621 ARMITAGE ST, Los Angeles3 beds, 2 full baths
$1,049,000 : 1901 APEX AVE, Los Angeles3 beds, 3 full baths
$695,000 : 2592 Adelbert Avenue, Los Angeles3 beds, 3 full baths
$349,999 : 1376 ECHO PARK AVE, Los Angeles1 bed, 1 full bath
$975,000 : 2846 N BUZZ CT, Los Angeles3 beds, 1 full, 2 part baths
$549,500 : 147 N RENO ST, Los Angeles4 beds, 2 full baths
$889,000 : 2387 Teviot Street, Los Angeles2 beds, 2 full baths
$1,149,000 : 2340 KENILWORTH AVE, Los Angeles2 beds, 1 full, 2 part baths
$535,000 : 2822 DENBY AVE, Los Angeles3 beds, 2 full baths
$699,000 : 2237 Meadowvale Avenue, Los Angeles4 beds, 3 full baths
$1,198,500 : 2451 Aaron Street, Los Angeles5 beds, 3 full baths
$649,900 : 1343 Douglas Street, Los Angeles3 beds, 2 full baths
$949,990 : 1736 CLINTON ST, Los Angeles5 beds, 1 full bath
$1,499,000 : 1725 APEX AVE, Los Angeles4 beds, 3 full baths
$689,000 : 2205 Polyscope PL, Los Angeles2 beds, 2 full, 1 part baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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