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
$1,150,000 : 1521 PARMER Avenue, Los Angeles3 beds, 2 full baths
$1,489,000 : 2503 PANORAMA Terrace, Los Angeles3 beds, 3 full baths
$989,900 : 926 Robinson Street, Silver Lake2 beds, 2 full baths
$759,900 : 2319 Harwood Street, Los Angeles3 beds, 2 full, 1 half baths
$899,000 : 3515 EFFIE Street, Los Angeles3 beds, 2 full baths
$875,000 : 3108 BELLEVUE Avenue, Los Angeles2 beds, 1 full bath
$749,900 : 1761 Effie Street, Los Angeles2 beds, 1 full bath
$639,000 : 704 Bernard Street, Los Angeles3 beds, 3 full baths
$550,000 : 1036 Laguna Avenue, Los Angeles1 bed, 1 full bath
$599,000 : 830 N Rampart Boulevard, Los Angeles2 beds, 1 full, 1 three-quarter baths
$679,000 : 1637 N Alvarado Street, Los Angeles3 beds, 1 full bath
$850,000 : 1907 N ALVARADO Street, Los Angeles3 beds, 2 full baths
$950,000 : 1470 ANGELUS Avenue, Los Angeles2 beds, 1 full bath
$625,000 : 3117 London Street, Los Angeles3 beds, 2 full baths
$2,299,000 : 2600 LAKE VIEW Avenue, Los Angeles5 beds, 5 full, 1 half baths
See all Silver Lake and Echo Park Homes for Sale.
(all data current as of 2/20/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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