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
$1,190,000 : 1933 Modjeska Street, Los Angeles3 beds, 3 full baths
$729,000 : 251 North Lake Street, Los Angeles4 beds, 3 full baths
$1,387,000 : 1725 Apex Avenue, Los Angeles4 beds, 3 full baths
$799,000 : 2538 Elsinore, Silver Lake4 beds, 2 full baths
$849,000 : 2712 Hyans Street, Los Angeles5 beds, 2 full baths
$689,000 : 1326 Mccollum Street, Los Angeles2 beds, 2 full baths
$995,000 : 2839 North Buzz Court, Los Angeles3 beds, 1 full, 2 part baths
$1,395,000 : 1693 Redesdale Avenue, Silver Lake6 beds, 5 full baths
$707,525 : 2207 Selig Drive, Los Angeles2 beds, 2 full, 1 part baths
$1,888,888 : 3210 Drury Lane, Los Angeles4 beds, 3 full baths
$995,000 : 1406 Carroll Avenue, Los Angeles2 beds, 1 full, 1 part baths
$1,298,000 : 1919 Cerro Gordo Street, Los Angeles3 beds, 3 full baths
$778,200 : 1845 Silent Era Drive, Los Angeles3 beds, 2 full, 1 part baths
$495,000 : 2722 Council Street, Los Angeles3 beds, 1 full, 1 part baths
$1,265,000 : 1902 North Alvarado Street, Los Angeles3 beds, 2 full, 1 part baths
See all Silver Lake and Echo Park Homes for Sale.
(all data current as of 5/24/2015)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Buying or Selling Los Angeles Real Estate
Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!
When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.
If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.
Westside Los Angeles Real Estate, including, but not limited to:
- Westwood Real Estate – Westwood single family homes, Westwood condominiums, Wilshire Corridor condominiums, Century City condominiums
- Brentwood Real Estate – Brentwood single family homes, Brentwood condominiums
- Santa Monica Real Estate – Santa Monica single family homes, Santa Monica condominiums
- Beverly Hills Real Estate – Beverly Hills single family homes, Beverly Hills condominiums
- Culver City Real Estate – Culver City homes
- Silver Lake Real Estate – Silver Lake single homes
- Echo Park Real Estate – Echo Park homes
For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919.