$10,000 Closing Credit*
$1,349,900
1,347 SqFt
3 Beds
•1 Full Bath
Keith Scaduto, Listing Office: Coldwell Banker Realty
Is Echo Park, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Echo Park has remained a Seller's Market.
Key Takeaway
Echo Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Echo Park, CA
How much do homes in Echo Park, CA cost?
Median Sold Price
$1,250,000
$782/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$37,000(-2.9%)
Key Takeaway
Homes in Echo Park have sold for 2.9% less than they did a year ago.
Summary: The median home sold price in Echo Park was $1,250,000 in October 2024, down 2.9% from last year, and the median price per square foot was $782.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $727.5K | $635.3K | -12.7% |
| 2 Bedrooms | $1.0M | $1.1M | +4.1% |
| 3 Bedrooms | $1.3M | $1.1M | -16.9% |
| 4 Bedrooms | $1.3M | $1.6M | +18.5% |
| 5+ Bedrooms | $1.5M | $1.6M | +10.8% |
Summary: Echo Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.7%, 2 bedroom homes increased by 4.1%, 3 bedroom homes decreased by 16.9%, 4 bedroom homes increased by 18.5%, and 5+ bedroom homes increased by 10.8%.
Housing Supply in Echo Park, CA
How many homes are available in Echo Park, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 70 | 70 | 0.0% |
Summary: The Echo Park real estate market had 70 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 15 | 17 | +13.3% |
| 3 Bedrooms | 19 | 19 | 0.0% |
| 4 Bedrooms | 16 | 14 | -12.5% |
| 5+ Bedrooms | 19 | 19 | 0.0% |
Summary: The Echo Park housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 13.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 17 | +41.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 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. 47.1% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Echo Park in October 2024, up by 41.7% month-over-month. Of the 17 sold homes, 47% were sold under asking, 12% were sold at asking, and 41% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 43 Days | 42 Days | -1.0% |
Summary: Homes in Echo Park had an average of 42 days on market in Oct 2024, down by 1% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Echo Park are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 17 homes were sold in Echo Park; 65% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 18% 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.