October's First-Time Homebuyer Report for Echo Park

Echo Park is older than the rest of Los Angeles, with a median age of 35. It's much less affluent than average as well, with a median income of $39,705 per household. The Echo Park market is primarily made up of detached houses, which currently account for 85% of the homes for sale in the area. Topping the list of best schools in the neighborhood is Carpenter Avenue Elementary School.

Price Range

Home values in Echo Park are generally in line with others in the city with a median home value of $341,154 and an average list price of $803,511. The Echo Park market saw sales remain flat this week with 17 homes sold over the last 30 days, while new listings climbed to 27.

Curious as to which homes have been getting the most attention in Echo Park? These listings have stirred up interest and produced the most views:

$479K   $750K   $735K  

Typical Dwelling

The typical dwelling in Echo Park is a two-bedroom detached home worth about $756,721. To purchase a similar home, a buyer with good credit and a $151,344 cash down payment could obtain a mortgage with a 3.95% interest rate and a $3,881 monthly payment. The property tax rate is $7.73 per $1,000 of taxable assessed value.

Get started right now by checking out Echo Park homes for sale or reviewing Echo Park real estate trends.


Data reported through 10/13/2016

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RE/MAX MASTERS REALTY
Compass
Snapped 12 homes in this area
Dilbeck Real Estate
Snapped 4 homes in this area

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