Echo Park and several other Eastside neighborhoods continued to be one of the most challenging and competitive places for Los Angeles house hunters, with the November results showing significant price and sales gains, according to a monthly analysis from Redfin.com.
The median price for homes sold across Los Angeles last month was $565,000. That’s up 7.6% from November 2014. Meanwhile, the number of homes sold in November fell 6.2% when compared to November of last year. It’s the first such year-over-year drop since May, according Redfin.
Many Eastside neighborhoods easily exceeded the gains reported citywide. Echo Park, for example, was L.A.’s hottest neighborhood in November when taking into account home price appreciation, the number of sales and sales completed above the asking price, said Redfin spokesman Jeffrey Marino.
During November, the median price of homes sold across all neighborhoods tracked by The Eastsider was $610,000. That’s 11.9% higher than a year ago.
A summary of the Eastside’s November results can be found below or by clicking here.