Eastside homes prices surge in December; Echo Park house sells for a record-breaking $2.1 million

eastside homes collage

An Echo Park home sold for a record-breaking $2.1 million in December while properties in Mount Washington took only 16 days on average to find a buyer as the Eastside and L.A. real estate markets ended 2015 on a strong note, according to a monthly analysis from Redfin.com.

The median price for homes sold across Los Angeles last month was $559,000. That’s up 9.6% from December 2014. Meanwhile, the number of homes available for sale in December dropped a substantial 20% when compared to November of last year, said Redfin.

On the Eastside,  the median price of homes sold across all neighborhoods tracked by The Eastsider was $625,000. That’s nearly 20% higher than a year ago.

Mount Washington barely edged out Echo Park with the Eastside’s biggest year-over-year  in the median price: up 25.2% to $720,000.

Echo Park’s median sales price of $813,000, which Redfin noted was on par with Marina Del Rey, got a boost with the sale of several properties above the $1 million-range, including a newly built, four-bedroom home in the 1600 block of Waterloo Street that sold for $2.1 million.  That makes it the first Echo Park home to sell above $2 million in recent years, according to Redfin.

Post a Comment

Please keep your comments civil and on topic and refrain from personal attacks. The moderator reserves the right to edit or delete any comments. The Eastsider's Terms of Use and Privacy Policy apply to comments submitted by readers. Required fields are marked *