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
$1,325,000 : 2651 Lake View Terrace, Los Angeles3 beds, 3 full baths
$569,000 : 3405 Plata Street, Los Angeles2 beds, 2 full baths
$1,549,000 : 1664 Redesdale Avenue, Los Angeles4 beds, 3 full baths
$1,099,000 : 1318 North Benton Way, Los Angeles3 beds, 2 full baths
$1,249,000 : 2254 Bancroft Avenue, Los Angeles3 beds, 2 full, 1 three-quarter baths
$1,250,000 : 2385 Fellowship Park Way, Los Angeles4 beds, 2 full, 1 half baths
$1,099,000 : 1717 North Dillon Street, Los Angeles3 beds, 1 full, 1 three-quarter baths
$1,050,000 : 1630 Silverwood Terrace, Los Angeles3 beds, 2 full baths
$1,399,000 : 2235 Loma Vista Place, Los Angeles4 beds, 4 full baths
$499,900 : 516 North Burlington Avenue, Echo Park2 beds, 1 full bath
$865,000 : 325 North Robinson Street, Los Angeles3 beds, 1 full bath
$539,000 : 1376 Echo Park Avenue, Los Angeles1 bed, 1 full bath
$870,000 : 1334 Calumet Avenue, Los Angeles4 beds, 3 full baths
$790,000 : 719 North Coronado Street, Los Angeles4 beds, 2 full baths
$1,299,999 : 3439 Winslow Drive, Silver Lake4 beds, 3 full baths
See all Silver Lake and Echo Park Homes for Sale.
(all data current as of 5/5/2016)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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