Silver Lake | Echo Park Housing Market Report 1st Quarter 2012

By
Real Estate Agent with Power Brokers Int'l BRE# 01439865

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.

Echo Park

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

Showing properties 1 - 15 of 121. See more Silver Lake and Echo Park Homes for Sale
(all data current as of 4/28/2012)

  1. 0 medium Silver Lake | Echo Park Real Estate Market | 1st Quarter 2012
    3 beds, 1 full, 1 part baths
    Home size: 1,057 sq ft
    Lot size: 5,397 sqft
    Year built: 1923
    Parking spots: 1
    Days on market: 2
     
  2.  Silver Lake | Echo Park Real Estate Market | 1st Quarter 2012
    3 beds, 1 full, 1 part baths
    Home size: 1,057 sq ft
    Lot size: 5,397 sqft
    Year built: 1923
    Parking spots: 1
    Days on market: 2
     
  3. 0 medium Silver Lake | Echo Park Real Estate Market | 1st Quarter 2012
    3 beds, 1.5 baths
    Home size: 2,090 sq ft
    Lot size: 6,621 sqft
    Year built: 1942
    Parking spots: 2
    Days on market: 5
     
  4. 0 medium Silver Lake | Echo Park Real Estate Market | 1st Quarter 2012
    2 beds, 3 full, 1 part baths
    Home size: 2,482 sq ft
    Lot size: 1,891 sqft
    Year built: 2011
    Parking spots: 2
    Days on market: 8
     
  5. 0 medium Silver Lake | Echo Park Real Estate Market | 1st Quarter 2012
    2 beds, 3 full, 1 part baths
    Home size: 2,705 sq ft
    Lot size: 1,891 sqft
    Year built: 2011
    Parking spots: 2
    Days on market: 8
     
  6. 0 medium Silver Lake | Echo Park Real Estate Market | 1st Quarter 2012
    2 beds, 3 full, 1 part baths
    Home size: 2,319 sq ft
    Lot size: 2,228 sqft
    Year built: 2011
    Parking spots: 2
    Days on market: 8
     
  7. 0 medium Silver Lake | Echo Park Real Estate Market | 1st Quarter 2012
    3 beds, 3 full, 1 part baths
    Home size: 2,761 sq ft
    Lot size: 1,890 sqft
    Year built: 2011
    Parking spots: 4
    Days on market: 8
     
  8. 0 medium Silver Lake | Echo Park Real Estate Market | 1st Quarter 2012
    3 beds, 2 full baths
    Home size: 1,500 sq ft
    Lot size: 7,469 sqft
    Year built: 1920
    Days on market: 8
     
  9. 0 medium Silver Lake | Echo Park Real Estate Market | 1st Quarter 2012
    3 beds, 2 full baths
    Home size: 1,184 sq ft
    Lot size: 4,550 sqft
    Year built: 1928
    Parking spots: 1
    Days on market: 9
     
  10. 0 medium Silver Lake | Echo Park Real Estate Market | 1st Quarter 2012
    2 beds, 1.5 baths
    Lot size: 5,000 sqft
    Year built: 1909
    Parking spots: 5
    Days on market: 9
     
  11. 0 medium Silver Lake | Echo Park Real Estate Market | 1st Quarter 2012
    3 beds, 2 full baths
    Home size: 1,600 sq ft
    Lot size: 4,800 sqft
    Year built: 1927
    Parking spots: 2
    Days on market: 10
     
  12. 0 medium Silver Lake | Echo Park Real Estate Market | 1st Quarter 2012
    2 beds, 2 full baths
    Home size: 1,744 sq ft
    Lot size: 6,763 sqft
    Year built: 1924
    Parking spots: 1
    Days on market: 10
     
  13. 0 medium Silver Lake | Echo Park Real Estate Market | 1st Quarter 2012
    3 beds, 2.5 baths
    Home size: 1,904 sq ft
    Lot size: 7,187 sqft
    Year built: 1965
    Parking spots: 2
    Days on market: 10
     
  14. 0 medium Silver Lake | Echo Park Real Estate Market | 1st Quarter 2012
    2 beds, 1 full bath
    Home size: 852 sq ft
    Lot size: 4,948 sqft
    Year built: 1923
    Parking spots: 1
    Days on market: 11
     
  15. 0 medium Silver Lake | Echo Park Real Estate Market | 1st Quarter 2012
    3 beds, 2 full, 1 part baths
    Home size: 2,074 sq ft
    Lot size: 7,349 sqft
    Year built: 2010
    Parking spots: 2
    Days on market: 11
     

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 

 

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Read more: http://www.homejane.com/silver-lakeecho-park-real-estate-market-1st-quarter-2012.html#ixzz1tSuwIU00


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Show All Comments
Rainmaker
645,657
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Jane - Another excellent real estate marketing report on Silver Lake / Echo Park.  I really enjoy looking at all of the listings and home photos.  It really give me a good idea of what to expect in the area.  Nicely done!

April 29, 2012 02:13 PM #1
Rainmaker
887,799
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

Laura,  thank you, as always.

April 29, 2012 02:17 PM #2
Ambassador
800,736
Kathy Schowe
California Lifestyle Realty - La Quinta, CA
La Quinta, California 760-333-8886

Great local post Jane... I'm familiar some with Silver Lake, but don't know the Echo Park area.  Glad I know an expert named Jane!  K

April 29, 2012 02:48 PM #3
Rainmaker
649,807
Realty Works Temecula
Realty Works Temecula - Temecula, CA
Real Estate, Temecula, Murrieta, Menifee

Hi Jane:  Consumers love to hear what the market was doing the same time one year or two years ago.  It's good to hear that the Silver Lake, Echo Park housing market is stabilizing!

April 29, 2012 03:27 PM #4
Rainmaker
449,229
Patty Da Silva, Davie, Southwest Ranches Cooper City, Plantation, Weston, REALTOR
BROKER of Green Realty Properties® - 954-667-7253 - Davie, FL
Top Listing Broker

Jane,

I really like the 3 bed, 2.5 bath home for  located at 2235 MORENO DR, Los Angeles that is listed for $759,000. :D

April 29, 2012 04:24 PM #5
Rainmaker
887,799
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

Kathy,  thank you.  Echo Park is becoming the new Silver Lake followed by Highland Park becoming the new Echo Park, and so on....

Jane,  it is.  But it is a great area so I am no surprised.

April 29, 2012 04:24 PM #6
Rainmaker
887,799
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

Patty,  wanna buy it?  :)

April 29, 2012 04:27 PM #7
Rainmaker
247,840
John M. Scott
BRE # 01442690, Scott Keys Properties - San Francisco, CA
Broker / Owner San Francisco Bay Area

I don't know how you get these reports to format like you do Jane, but it must be valuable information for your local readers!

April 29, 2012 05:36 PM #8
Rainmaker
887,799
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

John,  thank you. Hopefully this all helps.

April 29, 2012 05:57 PM #9
Rainmaker
358,479
Bruce Walter
Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

Jane, that is a most impressive report for the Echo Park/Silver Lake area compared to last year.  Sales up over 30% from last year and a current supply of THREE months inventory, I'd say your buyers better get in right now before prices go up further!

April 29, 2012 10:13 PM #10
Rainmaker
887,799
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

Bruce, I think so too.

April 29, 2012 10:23 PM #11
Rainmaker
1,622,083
Dorie Dillard
Coldwell Banker United Realtors - Austin, TX
Realtor-Canyon Creek- NW, Austin TX Homes For Sale

Good morning Jane,

I'd say more sellers should consider getting their home on the market! Definitely a sellers market..sales are up and inventory is down! Nice market presentation for Echo Park/Silver Lake area as always!!

May 02, 2012 02:05 AM #12
Rainmaker
1,227,729
Al & Peggy Cunningham Brokers, Brampton Ontario Homes For Sale 905-450-5500
RE/MAX Realty Services Inc. - Brampton, ON

Well done Jane, you know the market in Echo Park/Silver Lake! Nice to see the increase in sales and price and the absorption time isn't really all that long. 

May 02, 2012 05:16 AM #13
Rainmaker
887,799
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

Dorie,  thank you.  And yes, sellers should be putting their homes on the market in that area.

Al & Peggy, the market is definitely favoring sellers for sure.

May 02, 2012 08:31 AM #14
Rainmaker
1,237,658
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Jane - Wow, that is a HUGE increase in sales compared to last year.

May 04, 2012 06:58 PM #15
Rainmaker
887,799
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

Michelle,  this is a very popular area with very little inventory.

May 04, 2012 09:38 PM #16
Anonymous
Anonymous
Hirofumi
a1Vaya! Ahora entiendo tu auncseia de las pistas de baile latino, pero te garantizo que ahed encontrare1s me1s de un streep-tease con sedntomas de thriller multinacional. Y si quieres pagar, por 20 de los pequef1os te bailo un guaguancf3, el bolero es me1s caro.a1salut!El Molestoso
July 29, 2012 10:36 PM #17
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Rainmaker
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Jane Peters

Connecting you to the L.A. real estate scene
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