Tuesday, October 25, 2016

Eastside homes sales and prices rise in October

Eastside real estate homesL.A. home prices continued to rise in October but at a slower pace while sales were flat, according to Redfin’s analysis of last month’s results.  Eastside home sales prices and sales, however,  were far  more robust, with the median sales price in Echo Park, for example, rising more than 26%  compared to October of last year, according to Redfin.

During October, the median price of homes sold across all neighborhoods tracked by The Eastsider was $610,000. That’s 14.6% higher than a year ago. 524 homes were sold, which represents a 20.7% increase.

Echo Park posted the biggest increase in terms of sales price, with the median in October jumping 26.4% from the same month last year to $750,288, according to Redfin.  The median rose 19% in Highland Park to $610,000; 16% in Eagle Rock to $716,000; 12.2% in Glassell Park to $618,750; and 6% in Mount Washington to $689,000.

The median sales price did not rise in every neighborhood October. In Silver Lake, for example, the median slipped nearly 11% from October of last year to $757,644, according to Redfin.


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