Monday, October 24, 2016

Eastside Property: Million-dollar Silver Lake home sales adding up this year

It took less than three weeks to sell this Silver Lake home listed at $1.25 million/Redfin

You would think finding a buyer for a $1.25 million Silver Lake home might prove a challenge.  That was not the case for a three-bedroom, Tudor-style home that was purchased  back in February for $668,000 and, after being renovated by a flipper-investor, put back on the market at the end of August at an asking price $1.25 million.  Less than three weeks after being listed, the sale of the Waverly Drive home  was completed at $100,000 over asking, according to Redfin.

The Waverly property is one of about three-dozen  Silver Lake homes that have sold this year for $1 million or more, with the most expensive sale so far being a $1.995 million house on Kennilworth Avenue, according to a review of Redfin sales figures.

This year’s pace of million-dollar Silver Lake home sales has already surpassed all of 2012, when 26 homes sold for at least $1 million, according to Redfin.

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