If you are buying or selling Echo Park real estate, find out how the market is doing on a monthly basis.
So how is the Echo Park real estate market doing?
The statistics to take note of are February 2010 and February 2011 as these take the seasonality out of the equation. Be sure to click on each chart for more detail:
The median sold price is down only 2%.
The number of homes sold in Echo Park is up by 3.
Average days on the market of homes sold is up 50%.
The number of new homes on the market dropped by 3, but the total on the market is up by 6.
There is not too much difference in the median list price vs median sold price. Echo Park home buyers and sellers seem to be on the same wavelength.
Here’s the good news for Echo Park home sellers, inventory is up 15% and buyer demand 75%.
With 3 months of inventory the Echo Park real estate market is most definitely a sellers’ market.
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Echo Park Los Angeles Real Estate – How is the Market Doing?
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Look at you up late doing your market reports. I'm at it late tonight too. Nice job on the subdivision!
Jane, Good to see at least one area where inventory is limited and selling close to asking!
Jane, great presentation and I agree, good news for sellers here.
Good morning Jane ,
Great presentation on the Echo Park real estate..sounds great for your sellers and for you!
Jane - Great real estate market report for Echo Park. It's always great when sellers list accordingly and buyers pay accordingly.
Karen, sad isn't it.
Bill, it certainly is.
Janice, we need more sellers in Echo Park.
Dorie, thank you very much.
Michelle, that is definitely the ideal.
Jane,
It's nice to see the shift from buyer's to seller's market for Echo Park. With this said, I hope this sparks some more new sellers to come out and make some decisions about whether or not to sell their home. For when this happens, the market will balance out even more so. Again with this said, I know I'm not telling you anything new... g
Gordon, it's nice to hear it though :)
Jane - as a listing Broker I have to admit I like a seller's market.... happier clients for me. Hehehehe
Patty, most definitely.
Jane...one of our good friends who writes "Weeds" episodes on Showtime lives in Echo Park and loves it. Some great downtown views can be had from some of those homes.
David, I love that area. The views and great and there it is a really eclectic area.