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
$2,295,000 : 2230 Glendale Boulevard, Los Angeles3 beds, 2 full, 1 three-quarter, 1 half baths
$850,000 : 206 ROBINSON Street, Los Angeles4 beds, 2 full baths
$649,000 : 1131 SUNVUE Place, Los Angeles3 beds, 1 full, 1 half baths
$775,000 : 1625 BAXTER Street, Los Angeles4 beds, 4 full baths
$899,000 : 2586 CORRALITAS Drive, Los Angeles3 beds, 1 full, 1 three-quarter baths
$989,000 : 2452 MEADOW VALLEY Terrace, Los Angeles2 beds, 1 full bath
$895,000 : 2226 PRINCETON Avenue, Los Angeles2 beds, 1 full bath
$800,000 : 1830 Griffith Park Boulevard, Los Angeles3 beds, 3 full baths
$995,950 : 2146 Marathon Street, Echo Park7 beds, 2 full baths
$1,250,000 : 1243 N Hoover Street, Los Angeles3 beds, 2 full, 1 three-quarter baths
$770,000 : 930 VENANGO Circle, Los Angeles3 beds, 2 full baths
$795,000 : 301 N VENDOME Street, Los Angeles3 beds, 1 full bath
$799,000 : 1405 SILVER LAKE, Los Angeles3 beds, 2 full baths
$699,000 : 1434 ANGELUS Avenue, Los Angeles2 beds, 1 full bath
$790,000 : 1925 Berkeley Avenue, Silver Lake9 beds, 4 full, 2 half baths
See all Silver Lake and Echo Park Homes for Sale.
(all data current as of 8/31/2016)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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