Silver Lake Real Estate Market Update: August 2009

Well priced Silver Lake real estate is selling relatively quickly.  There is not a particularly large inventory homes for sale in the area right now. The mls show the current active listing inventory to be only 37 homes. The follow chart shows Silver Lake Real Estate Market activity for the Month of August, 2009. Single Family homes sold in Silver Lake California Now let's take a look at some year to date figures from January 1, 2009 through August 31, 2009. These figures are for single family homes in Silver Lake only and to not include Silver Lake condos or income properties. Silver Lake Home Sales Year-to-date from January 1st, 2009 through August 31, 2009
  • Number of Single Family Homes SOLD: 111
  • Highest price - $1,890,000
  • Median price -$735,000
  • Average price -$733,989
  • Lowest price - $172,000
  • Average Days on the Market - 61
  • Average Square footage $1,737.24
  • Average price per square foot- $425.06
According to the information provided in the MLS, of the total number of single family homes sold in Silver Lake so far this year, 7 where short sales and 16 where bank owned, meaning approximately 20% of the total where distresses sales. Silver Lake prices vary by location, school district, property size and condition.  The following chart shows that the majority of sale of Silver Lake single family homes this year have sold between $700,000 and $1,000,000.  If you have been hoping to find a house in Silver Lake for $500,000 or less you'll see that that relatively few homes have sold in that range.  This price range is not only very competitive, but the majority of the properties are major fixers, very small, and/or in less desirable areas. Silver Lake real estate prices For more information on Silver Lake, Echo Park, Los Feliz, and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com Jenny Durling signature Jenny Durling Broker Associate L.A. Property Solutions 213-215-4758 info@LApropertySolutions.com LApropertySolutions.com

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