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 4/17/2014)
$499,000 : 2225 LOMA VISTA PL, Los Angeles3 beds, 1 full bath
$685,000 : 1341 WATERLOO ST, Los Angeles2 beds, 1 full bath
$1,200,000 : 2228 MICHELTORENA ST, Los Angeles4 beds, 5 full baths
$750,000 : 3104 Hollydale Drive, Los Angeles3 beds, 2 full baths
$510,000 : 241 North Lake Street, Lake Los Angeles4 beds, 2 full baths
$549,000 : 2433 RIVERSIDE PL, Los Angeles3 beds, 1 full, 1 part baths
$589,000 : 1635 GRAFTON ST, Los Angeles1 bed, 1 full bath
$799,000 : 1916 MICHELTORENA ST, Los Angeles2 beds, 1 full bath
$899,000 : 2148 VESTAL AVE, Los Angeles3 beds, 3 full baths
$450,000 : 2155 CLINTON ST, Los Angeles2 beds, 2 full baths
$3,750,000 : 2023 REDCLIFF ST, Los Angeles6 beds, 6 full baths
$959,000 : 839 E KENSINGTON RD, Los Angeles3 beds, 2 full, 1 part baths
$599,000 : 1465 Landa Street, Los Angeles3 beds, 2 full baths
$897,900 : 1324 Silver Lake Boulevard, Silver Lake3 beds, 3 part baths
$599,000 : 1878 Lake Shore Avenue, Los Angeles2 beds, 1 full bath
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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