$10,000 Closing Credit*
$1,699,000
2,029 SqFt
7 Beds
•3 Full Baths
Andrew Munoz, Listing Office: Keller Williams Pacific Estate
Is Echo Park, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Echo Park was a Seller's Market.
Key Takeaway
Echo Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Echo Park, CA
How much do homes in Echo Park, CA cost?
Median Sold Price
$1,244,500
$783/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$42,500(-3.3%)
Key Takeaway
Homes in Echo Park have sold for 3.3% less than they did a year ago.
Summary: The median home sold price in Echo Park was $1,244,500 in November 2024, down 3.3% from last year, and the median price per square foot was $783.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $725K | $635.3K | -12.4% |
| 2 Bedrooms | $1.0M | $1.1M | +4.6% |
| 3 Bedrooms | $1.3M | $1.1M | -15.1% |
| 4 Bedrooms | $1.5M | $1.6M | +5.0% |
| 5+ Bedrooms | $1.6M | $1.6M | +5.9% |
Summary: Echo Park housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.4%, 2 bedroom homes increased by 4.6%, 3 bedroom homes decreased by 15.1%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 5.9%.
Housing Supply in Echo Park, CA
How many homes are available in Echo Park, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 68 | 66 | -2.9% |
Summary: The Echo Park real estate market had 66 homes for sale in November 2024, a 2.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 16 | 16 | 0.0% |
| 3 Bedrooms | 19 | 16 | -15.8% |
| 4 Bedrooms | 13 | 12 | -7.7% |
| 5+ Bedrooms | 18 | 18 | 0.0% |
Summary: The Echo Park housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 15.8%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 9 | -47.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Echo Park, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Echo Park in November 2024, down by 47.1% month-over-month. Of the 9 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% were sold over asking.
Days on Market for Echo Park, CA
How long does it take to sell a home in Echo Park, CA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 22 Days | 40 Days | +80.9% |
Summary: Homes in Echo Park had an average of 40 days on market in Nov 2024, up by 80.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Echo Park has remained consistent over time.
Summary: During November 2024, 9 homes were sold in Echo Park; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.