7 Notable Sales

7 Notable Sales

It’s a ranging bull market in Echo Park.  Since the first of January, Sellers in Echo Park continue to reap the benefits of soaring home prices, while Buyers pay a premium to live here.

Here’s a quick mid-year recap of 2015’s 7 notable sales thus far:

2027 Park Drive

1.  2027 Park Drive, Elysian Park. 4+2 in 1,974 sq. ft.

Listed at $1,150,000. Sold for $1,400,000 (22% above list)

1840 Lemoyne

2.  1840 Lemoyne Street, Elysian Heights. 3+2 in 1,746 sq. ft.

Listed at $799,000. Sold for $959,000 (20% above list)

1597 Altivo Way

3.  1597 Altivo Way, Elysian Heights, 2+2 in 1,334 sq. ft.

Listed at $829,000. Sold for $957,000 (15% above list)

2300 Avon Street

4.  2300 Avon Street, Elysian Heights, 2+1 in 1,078 sq. ft.

Listed at $749,000. Sold for $849,000 (13% above list)

2339 Vestal

5.  2339 Vestal Avenue, Elysian Heights, 3+2 in 1,275 sq. ft.

Listed at $729,000. Sold for $835,000 (14% above list)

1712 Clinton

6.  1712 Clinton Street, Echo Park, 2+1 in 844 sq. ft.

Listed at $495,000. Sold for $680,000 (37% above list)

1701 Clinton #311

7.  1701 Clinton Street #311, Echo Park, 2+1 in 843 sq. ft.

Listed at $499,900. Sold for $567,000 (13% above list)

And–you may wonder–what is the lesson learned from the above statistics?  As a Seller in a Seller’s market, arriving at the right list price is key in garnering multiple offers and choosing the perfect Buyer in escrow.

As a Buyer in a Seller’s market, it’s best to be guided by an agent who specializes in the area and recognizes when a home is under-priced, over-priced, or priced just right.

To start the process as a Seller or Buyer, please feel free to contact Jovelle Schaffer at (213) 718-1110 or at jovelle@jovelle.com.

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