Is Silver Lake, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Silver Lake is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Silver Lake was a Buyer's Market.

Key Takeaway

Silver Lake is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Silver Lake, CA

How much do homes in Silver Lake, CA cost?

Median Sold Price

$1,485,000

$852/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$140,000(-8.6%)

Key Takeaway

Homes in Silver Lake have sold for 8.6% less than they did a year ago.

Summary: The median home sold price in Silver Lake was $1,485,000 in October 2024, down 8.6% from last year, and the median price per square foot was $852.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $658K$795.5K
+20.9%
2 $1.2M$1.1M
-9.0%
3 $1.7M$1.5M
-8.4%
4 $2.1M$2.0M
-2.1%
5+ $2.1M$1.6M
-20.8%

Summary: Silver Lake housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.9%, 2 bedroom homes decreased by 9%, 3 bedroom homes decreased by 8.4%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes decreased by 20.8%.

Housing Supply in Silver Lake, CA

How many homes are available in Silver Lake, CA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7695+25.0%

Summary: The Silver Lake real estate market had 95 homes for sale in October 2024, a 25.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 12
+100.0%
2 1821
+16.7%
3 2937
+27.6%
4 1014
+40.0%
5+ 1821
+16.7%

Summary: The Silver Lake housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 27.6%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1314+7.7%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Silver Lake, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in Silver Lake in October 2024, up by 7.7% month-over-month. Of the 14 sold homes, 50% were sold under asking, 7% were sold at asking, and 43% were sold over asking.

Days on Market for Silver Lake, CA

How long does it take to sell a home in Silver Lake, CA?

Average Sale Time

Oct 2023Oct 2024CHANGE
23 Days39 Days+66.2%

Summary: Homes in Silver Lake had an average of 39 days on market in Oct 2024, up by 66.2% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Silver Lake are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 14 homes were sold in Silver Lake; 71% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 3 Days Ago

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