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 3/12/2014)
$769,000 : 2738 IVAN HILL TER, Los Angeles2 beds, 1 full bath
$1,160,000 : 2015 ROCKFORD RD, Los Angeles2 beds, 4 full baths
$1,400,000 : 2647 Lake View Terrace, Los Angeles3 beds, 2 full, 1 part baths
$648,000 : 400 N BIXEL ST, Los Angeles4 beds, 3 full baths
$1,100,000 : 1804 WEBSTER AVE, Los Angeles2 beds, 2 full baths
$1,595,000 : 2173 REDCLIFF ST, Los Angeles3 beds, 3 full baths
$949,000 : 2237 PANORAMA TER, Los Angeles4 beds, 1 full, 1 part baths
$899,000 : 1414 MCCOLLUM ST, Los Angeles3 beds, 2 full baths
$1,890,000 : 1954 Redesdale Avenue, Los Angeles5 beds, 3 full, 1 part baths
$649,000 : 2637 Adelbert Avenue, Silver Lake2 beds, 1 full, 1 part baths
$699,000 : 851 Laveta Terrace, Los Angeles5 beds, 3 full baths
$575,000 : 1201 W TEMPLE ST, Los Angeles2 beds, 2 full baths
$789,000 : 1557 Lemoyne Street, Echo Park2 beds, 1 full bath
$850,000 : 2034 Oak Glen Place, Los Angeles4 beds, 3 full baths
$389,900 : 312 North Mountain View Avenue, Los Angeles3 beds, 1 full bath
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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