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
$1,890,000 : 2258 Hidalgo Avenue, Los Angeles4 beds, 3 full, 1 part baths
$1,599,000 : 3112 Swan Place, Los Angeles3 beds, 2 full, 2 part baths
$599,000 : 1026 North Rampart, Los Angeles3 beds, 2 full baths
$1,179,000 : 3029 Fall Avenue, Los Angeles3 beds, 2 full baths
$1,595,000 : 1977 Lucile Avenue, Los Angeles2 beds, 3 full baths
$865,000 : 2511 North Via Artis Avenue, Los Angeles3 beds, 2 full, 1 part baths
$925,000 : 2026 Blackbirds Way, Los Angeles3 beds, 2 full, 1 part baths
$815,000 : 2202 Fox Lane, Los Angeles2 beds, 2 full, 1 part baths
$874,000 : 2205 Tom Mix Road, Los Angeles2 beds, 2 full, 1 part baths
$874,000 : 2206 Fox Lane, Los Angeles3 beds, 2 full, 1 part baths
$759,000 : 2204 Fox Lane, Los Angeles2 beds, 2 full, 1 part baths
$729,000 : 1855 Silent Era Drive, Los Angeles2 beds, 2 full, 1 part baths
$585,000 : 2816 Knox Avenue, Los Angeles4 beds, 3 full baths
$749,000 : 3443 Ferncroft Road, Los Angeles3 beds, 2 full baths
$899,000 : 1835 Silverwood Terrace, Los Angeles3 beds, 2 full, 1 part baths
See all Silver Lake and Echo Park Homes for Sale.
(all data current as of 10/6/2015)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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