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Wednesday, September 28, 2016

Highland Park tops the Eastside in June home sales & prices

Highland Park continued to be an Eastside hot spot in June in terms of home sales and price gains, with 29 homes selling for a median price of $353,000, according to sales information from DataQuick & the L.A. Times. That median sales price is nearly 20% higher than in June 2010 and stands in contrast to the year-over-year declines reported in most Eastside Zip Codes. Here’s an example of what sold in June:

557 Terrill Avenue, Hermon
Details: 3-bedroom, 1930 home with period fixtures and new kitchen
Sales Price: $507,000
Asking Price: 509,500

1339 Temple Street, Echo Park
Details: 2-bedroom, 1904 house next to 101 Freeway
Sales Price: $264,000
Asking Price: $274,900
4202 Collis Avenue, El Sereno
Details: Renovated, 3-bedroom house on a 7,500-square-foot corner lot.
Sales Price: $316,000
Asking Price: $299,000Info & photos from Redfin.com/theMLS.com
Neighborhood Zip Code Houses
Sold
Median Sales
Price
% Change
from June ‘2010
Atwater & Silver Lake 90039 19 $490,000 -11.2%
Boyle Heights 90033 5 $159,000 -13.6%
East L.A. & City Terrace 90063 12 $150,000 -12.0%
Eagle Rock 90041 10 $400,000 -11.2%
Highland Park & Hermon 90042 29 $353,000 19.7%
Echo Park & Silver Lake 90026 10 $565,000 8.40%
Cypress Park, Glassell Park
& Mt. Washington
90065 19 $370,000 -20.1%
El Sereno 90032 24 $288,000 -0.5%
East L.A. 90022 22 $228,000 -1.1%
Lincoln Heights &
Montecito Heights
90031 3 $244,00 8.4%
Source: DataQuick/L.A. Times


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  1. HIGHLAND PARK WHAT NOW!?

  2. 90026 higher than 90039?

  3. @ SireneB At least for homes that were sold that month.

  4. Yes, don’t forget, this is just one month – it does not mean this is representative of houses in that area generally. It just means that in June, it was a few pricier houses that sold, not the typical or cheaper houses. You need to watch the numbers over the course of a few or several months to get a better handle on actual prices.

    Clearly, the value of Highland Park did NOT go up by nearly 20% in June, even as housing prices locally as well as all over the country went down! Its just that the particular houses that sold were the higher priced ones in the area, and the prior month it was the lower priced ones that sold.

    Same for that 8 1/2% hike in EP-SL 90026 and in Montecito Heights, as well as the 20% drop in Mt. Washington.

    But buyer beware: all the real estate agents will point to this blip in those areas and tell buyers that is the price all the housing there is going for!

  5. Sirene B, the 90039 also contains a large part of Elysian Valley, aka “Frogtown,” which lies east of Fletcher, between Riverside Drive and the L.A. River. The least-expensive houses in the 90039 zip code are usually in that area, so I”m guessing a large portion of the 90039 sales in June 2011 were in that area. My guess is that anything between $275,000 and $450,000 is in the Elysian Valley; anything between $450,000 and $750,000 is between Glendale Blvd. and the 2 Freeway, and anything above $750,000 is in more “prime” areas of Silver Lake (i.e., closer to the lake itself).

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