Good news, you can still buy a house for under half-a-million dollars. These are the 3 neighborhoods in Northeast Los Angeles (NELA) where average prices are under $500,000:
Right after the end of football season the home buying and selling season begins. In Los Angeles the season starts in February and hits its stride in early Spring. Buyer activity peaks in early Summer and remains strong well into months ending in “ember,” beyond when we move the clocks forward and the days get shorter. It starts earlier here and ends later than in most parts of the country. LA real estate buyers and sellers are not as seasonal as those in other places. Our famous Southern California weather has a lot to do with that. Continue reading
Posted in Atwater Village, Cypress Park, Eagle Rock, Echo Park, Elysian Park, Elysian Valley, Franklin Hills, Glassell Park, Highland Park, LA Home Prices, Lincoln Heights, Los Feliz, Montecito Heights, Mt. Washington, Real Estate Market Statistics, Sell a Home, Silver Lake
Tagged Atwater Village Real Estate, Echo Park Homes For Sale, Silver Lake Realtor
The big news in California and the especially hot Northeast Los Angeles real estate market this year: welcome back. Welcome back to the mid 00’s. Home prices in Los Angeles County now equal or exceed those seen at the high-point of the market in 2006/2007 in most parts of town. Historically, home prices in California go up for a while and then they go down for a while. Every time they go back up the peak of the market is higher than the previous one. We are seeing that happen right now as property values and sales prices are hitting new highs in many neighborhoods.
The real estate market on what we loosely call the Eastside of Los Angeles last peaked in 2006/2007, crashed hard in 2008/2009, then “bounced along the bottom” from 2009 until the economic recovery started in late 2012. Prices started rising in most neighborhoods at the end of 2012 and have continued their ascent throughout 2013 and 2014.
2015 Real Estate Market Outlook
Will prices continue to rise in Los Angeles? Have they peaked? Is it a bubble? I’m not psychic, but all of the signals I see indicate prices will continue to rise in every Northeast Los Angeles neighborhood from Silver Lake to El Sereno, Echo Park to Eagle Rock, and everything in between. In an effort to figure it all out and put it all in perspective, here are the stats on 11 Eastside Los Angeles neighborhoods along with my perspective. Here are the ‘hoods in alphabetical order: Continue reading
Posted in Atwater Village, Cypress Park, Eagle Rock, Echo Park, El Sereno, Glassell Park, Highland Park, Lincoln Heights, Montecito Heights, Monterey Hills, Mt. Washington, Silver Lake
Tagged Eastside Real Estate Prices, NELA House Values