Echo Park is one of the top growing areas in the U.S. It's proximity to down town, spectacular views and still affordable housing by Los Angeles standards, draws a diverse population and a good place for first-time home buyers to investigate.
The statistics below, cover the major Echo Park areas (90026), are taken directly from the MLS and are for single family homes. They also don't take into consideration condos, income property and private sales.
There were 10 sales in the month of December. The most expensive home sold was $786,000 in the hills and $865,000 in the flats. There were only 9 sales in December '08.
The median sales price was $480,000 approximately a 25% decrease over December '08.
Average days on the market for sold properties was 65, down from 105 in December '08.
Below is a breakdown of last month's activity in the Echo Park area of Los Angeles:
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