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
$658,000 : 140 N Carondelet Street, Los Angeles2 beds, 1 full bath
$595,000 : 1015 MARVIEW Avenue, Los Angeles1 bed, 1 full bath
$1,195,000 : 1040 MYRA Avenue, Los Angeles3 beds, 3 full baths
$839,000 : 3801 Effie Street, Silver Lake1 bed, 1 full bath
$2,249,000 : 2284 HIDALGO Avenue, Los Angeles1 bed, 2 full, 1 half baths
$1,175,000 : 1525 SILVERWOOD Terrace, Los Angeles4 beds, 4 full baths
$999,000 : 2598 CORRALITAS Drive, Los Angeles3 beds, 2 full baths
$749,900 : 1906 BERKELEY Avenue, Los Angeles3 beds, 1 full, 1 three-quarter baths
$1,024,900 : 2924 VAN PELT Place, Los Angeles2 beds, 1 full, 1 three-quarter baths
$1,180,000 : 2316 PANORAMA Terrace, Los Angeles2 beds, 1 full, 1 three-quarter baths
$1,150,000 : 2245 MOORE Street, Los Angeles0 beds, 2 full, 1 three-quarter baths
$849,000 : 1310 MCCOLLUM Street, Los Angeles2 beds, 2 full baths
$994,990 : 2928 Rowena , Unit 6, Los Angeles2 beds, 2 full, 1 half baths
$790,000 : 2422 Gatewood Street, Los Angeles7 beds, 5 full baths
$975,000 : 666 AMADOR Street, Los Angeles3 beds, 2 full, 1 half baths
See all Silver Lake and Echo Park Homes for Sale.
(all data current as of 10/26/2016)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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