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
$639,000 : 952 Lucile Avenue, Los Angeles2 beds, 2 full baths
$1,089,000 : 2471 Lindsay Lane, Los Angeles3 beds, 1 full, 1 part baths
$995,000 : 4604 La Mirada Avenue, Los Angeles4 beds, 3 full, 1 part baths
$595,000 : 933 North Benton Way, Los Angeles0 beds, 3 full baths
$479,000 : 1500 Allison Avenue, Los Angeles2 beds, 2 full baths
$975,000 : 2036 Blackbirds Way, Los Angeles3 beds, 2 full, 1 part baths
$539,000 : 2118 Echo Park Avenue, Los Angeles2 beds, 1 full bath
$1,299,000 : 1854 Redcliff Street, Los Angeles3 beds, 2 full, 1 part baths
$799,000 : 812 Merwin Street, Los Angeles3 beds, 3 full baths
$950,000 : 1429 Westerly Terrace, Los Angeles2 beds, 2 full baths
$899,000 : 1954 Lucile Avenue, Los Angeles2 beds, 2 full baths
$499,990 : 2254 Glover Place, Los Angeles2 beds, 2 full baths
$1,200,000 : 817 Silver Lake, Los Angeles2 beds, 3 full baths
$499,000 : 346 Glendale, Los Angeles2 beds, 2 full baths
$550,000 : 2225 Effie Street, Los Angeles1 bed, 1 full bath
See all Silver Lake and Echo Park Homes for Sale.
(all data current as of 7/5/2015)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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