The Eastsider in early July reported that the owners of a three-bedroom house in the Elysian Heights section of Echo Park were trying to achieve what many other home sellers had failed to do: sell their house for more than what they paid during the most recent real estate boom. The $879,000 asking price for the Echo Park Avenue home at Altivo Way was $79,000 above the 2005 sales price and well above some other recent home sales. Things didn’t look so promising during the first Sunday open house when the street in front of the home was jammed with fire trucks responding to a nearby house fire. However, a buyer quickly emerged for the Echo Park Avenue home, and the sale closed on Aug. 15 or a month and one day after the property was listed, according to Redfin. The owners didn’t get asking but the 2,190-square-foot house still commanded $846,500.
That’s the highest sales price for a home in the immediate area since Feb. 2006 when a three-bedroom property in the 1400 block of Avon Terrace sold for $849,000.