Silver Lake ranks No. 1 among Forbes’ America’s Best Hipster Neighborhoods and is among CNN Money’s 10 Best Big City Neighborhoods.
Silver Lake has long been a highly desired neighborhood on the east side of Los Angeles. Close to Downtown L.A. with its trendy cafes, restaurants, boutiques and eclectic architecture, finding a home in Silver Lake is no mean feat.
The report below refers to single family homes and, since the MLS includes Echo Park in its search criteria, the figures below are an estimate.
Silver Lake housing statistics for the year-to-date:
Median price: $744,600
Avg. price per sq. ft: $509.07
Avg. sale price vs. list price: 103.62%
Avg. days on the market: 58
Active listings: 28
Median price: $849,000
Under contract: 37
As a comparison 15 less homes were sold compared with the previous 8 months. The median price is up 9.10% and the average sales to list price rose 3.84%.
With 113 sold over the past 8 months, 37 under contract, and only 28 presently on the market, there is a severe shortage of homes for sale in “Los Angeles’ best neighborhood”. Prospective Silver Lake home sellers take note.