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
$1,049,000 : 2558 CORRALITAS Drive, Los Angeles3 beds, 1 full, 1 three-quarter baths
$639,900 : 705 Coronel Street, Los Angeles3 beds, 3 full baths
$1,095,000 : 2538 ELSINORE Street, Los Angeles4 beds, 2 full, 1 three-quarter baths
$1,299,000 : 3101 BERKELEY Circle, Los Angeles3 beds, 2 full, 1 half baths
$1,599,000 : 2025 MEADOW VALLEY Terrace, Los Angeles3 beds, 2 full, 1 three-quarter baths
$799,000 : 4125 GATEWAY Avenue, Los Angeles2 beds, 2 full baths
$849,000 : 1697 REDESDALE Avenue, Los Angeles2 beds, 1 full bath
$495,000 : 1007 MARVIEW Avenue, Los Angeles2 beds, 1 full bath
$1,649,000 : 1135 CORONADO Terrace, Los Angeles4 beds, 4 full baths
$749,500 : 4119 Effie Street, Los Angeles2 beds, 1 full bath
$1,599,000 : 2320 BERKELEY Avenue, Los Angeles5 beds, 3 full, 1 half baths
$999,000 : 129 N BURLINGTON Avenue, Los Angeles4 beds, 2 full baths
$690,000 : 1822 Lucile Avenue, Los Angeles2 beds, 1 full bath
$599,000 : 336 Parkman Avenue, Los Angeles4 beds, 2 full baths
$995,000 : 408 .5 N La Fayette Park Place, Los Angeles4 beds, 3 full baths
See all Silver Lake and Echo Park Homes for Sale.
(all data current as of 3/22/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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