ECHO PARK | SILVER LAKE - SALES IN THE LAST 3 MONTHS

Average Days On Market

Median Sale Price

East side LA continues to be competitive. The Median Sale Price in Echo Park shot up to more than $870,000 last month and Silver Lake finally broke $ 1 million making it one of the 10 LA neighborhoods where March’s median selling price is over $1 million according to Redfin.

In Echo Park, median price was up 15.2% from last year. Average market days for sold homes dropped from 42 days in February to 38 days in March. Sales were down 9.8% from last month but up 41% comparing to March 2015. New listings rose 9.6% month over month. About 41.8% homes were sold higher than asking price.

In Silver Lake, March’s median price raised 12.3% from last year. Typical home stays on the market for 25 days. Sales were up 3.5% month over month. New listing increased 43.6% compared to February while inventory decreased 10.4% over the same period. 50.8% sellers got more than their asking price.

Reference: https://www.redfin.com/blog/data-center

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