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
$749,000 : 1478 Silver Lake, Los Angeles2 beds, 1 full bath
$2,250,000 : 1646 Waterloo Street, Los Angeles4 beds, 3 full, 1 part baths
$2,300,000 : 1652 Waterloo Street, Los Angeles4 beds, 3 full, 1 part baths
$2,350,000 : 1656 Waterloo Street, Los Angeles3 beds, 2 full, 1 part baths
$725,000 : 2207 Glendale, Los Angeles3 beds, 2 full baths
$759,000 : 2200 Tom Mix Road, Los Angeles3 beds, 2 full, 1 part baths
$865,000 : 1736 Clinton Street, Los Angeles5 beds, 1 full bath
$480,000 : 1130 Laveta Terrace, Los Angeles1 bed, 1 full bath
$599,000 : 4447 Lockwood Avenue, Los Angeles3 beds, 1 full bath
$999,000 : 1834 Preston Avenue, Los Angeles3 beds, 2 full baths
$1,250,000 : 2730 Auburn Street, Los Angeles3 beds, 1 full, 2 part baths
$995,000 : 2728 Auburn Street, Los Angeles3 beds, 1 full, 2 part baths
$1,099,000 : 2500 Griffith Park Boulevard, Los Angeles3 beds, 1 full, 1 part baths
$712,525 : 2211 Selig Drive, Los Angeles2 beds, 2 full, 1 part baths
$648,000 : 1350 Echo Park, Echo Park3 beds, 2 full baths
See all Silver Lake and Echo Park Homes for Sale.
(all data current as of 8/3/2015)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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