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
$1,189,000 : 2017 North Alvarado Street, Los Angeles5 beds, 3 full baths
$679,000 : 1406 Mcduff Street, Los Angeles1 bed, 2 full baths
$1,075,000 : 1990 Lucile Avenue, Los Angeles2 beds, 1 full, 2 part baths
$799,000 : 811 Rosemont Avenue, Unit 105, Los Angeles3 beds, 3 full, 1 part baths
$629,000 : 1179 Bellevue Avenue, Los Angeles2 beds, 2 full baths
$1,995,000 : 2516 Kenilworth Avenue, Los Angeles4 beds, 4 full baths
$1,995,000 : 2483 Lindsay Lane, Los Angeles4 beds, 2 full, 1 part baths
$1,065,000 : 925 Hyperion Avenue, Los Angeles3 beds, 2 full, 1 part baths
$768,000 : 1472 Landa Street, Los Angeles3 beds, 1 full bath
$750,000 : 1625 Delta Street, Los Angeles2 beds, 1 full bath
$799,000 : 1825 Edgecliffe Drive, Los Angeles3 beds, 1 full, 1 part baths
$1,099,000 : 1939 Modjeska Street, Los Angeles2 beds, 2 full, 1 part baths
$895,000 : 2034 Blackbirds Way, Los Angeles3 beds, 2 full, 1 part baths
$1,150,000 : 937 Micheltorena Street, Los Angeles3 beds, 2 full baths
$899,000 : 1616 Fargo Street, Los Angeles3 beds, 2 full baths
See all Silver Lake and Echo Park Homes for Sale.
(all data current as of 11/27/2015)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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