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 12/20/2014)
$449,950 : 614 ROSEMONT AVE, Los Angeles2 beds, 1 full, 1 part baths
$672,500 : 2204 W Duane ST, Los Angeles2 beds, 2 full, 1 part baths
$899,000 : 2237 BANCROFT AVE, Los Angeles3 beds, 2 full baths
$1,050,000 : 1559 MURRAY DR, Los Angeles3 beds, 2 full baths
$1,170,000 : 2215 OAK GLEN PL, Los Angeles3 beds, 2 full, 2 part baths
$829,000 : 1530 ALLESANDRO ST, Los Angeles3 beds, 2 full baths
$987,000 : 2636 Lake View Avenue, Los Angeles3 beds, 1 full, 1 part baths
$749,900 : 337 N RENO ST, Los Angeles4 beds, 2 full baths
$699,999 : 637 Robinson Street, Los Angeles3 beds, 2 full baths
$499,000 : 1251 ELYSIAN PARK AVE, Los Angeles1 bed, 1 full bath
$979,000 : 1761 Silver Lake BLVD, Los Angeles3 beds, 2 full baths
$719,000 : 1543 ALLESANDRO ST, Los Angeles2 beds, 2 full baths
$795,000 : 3637 Effie Street, Los Angeles2 beds, 1 full bath
$1,750,000 : 2051 MEADOW VALLEY TER, Los Angeles3 beds, 4 full baths
$1,849,000 : 1475 Easterly TER, Los Angeles3 beds, 2 full baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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