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
$1,295,000 : 3630 CARNATION Avenue, Los Angeles2 beds, 1 full, 1 half baths
$560,000 : 1314 BLAKE Avenue, Los Angeles2 beds, 1 full bath
$1,259,000 : 2064 Cerro Gordo Street, Los Angeles3 beds, 3 full baths
$2,950,000 : 2284 HIDALGO Avenue, Los Angeles3 beds, 2 full, 1 half baths
$849,000 : 1459 ANGELUS Avenue, Los Angeles3 beds, 2 full baths
$979,000 : 1905 CEDAR LODGE Terrace, Los Angeles2 beds, 2 full, 1 half baths
$989,000 : 1301 Mccollum Street, Los Angeles4 beds, 4 full baths
$800,000 : 1830 Griffith Park Boulevard, Los Angeles3 beds, 3 full baths
$920,000 : 2121 Silver Lake Avenue, Los Angeles2 beds, 2 full baths
$835,000 : 2222 PRINCETON Avenue, Los Angeles2 beds, 1 full bath
$1,089,000 : 3031 SILVER LEA Terrace, Los Angeles2 beds, 1 full bath
$975,000 : 1135 Coronado Terrace, Los Angeles5 beds, 4 full baths
$689,999 : 614 Rosemont Avenue, Los Angeles2 beds, 2 full, 1 half baths
$989,000 : 1336 N DOUGLAS Street, Los Angeles3 beds, 3 full, 1 half baths
$949,900 : 1711 Scott Avenue, Echo Park4 beds, 3 full baths
See all Silver Lake and Echo Park Homes for Sale.
(all data current as of 7/23/2016)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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