This three-bed, two-bath home in Mt. Washington sold for $1.28 million in July, fully $85,000 over the asking price. It was off the market in nine days.

It’s still a good time to sell a home in NELA, but home sellers remain in short supply

By Jeffery Marino

Despite higher interest rates and higher consumer prices, buyers continued to compete for homes in Northeast Los Angeles in July, the latest month with full housing data. Get up to date with us on the market here.

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This Highland Park bungalow sold for $1,206 million in June, 10% above the asking price. It was off the market in 30 days.

House prices in NELA dip as borrowing costs rise

By Jeffery Marino

The housing market in Northeast Los Angeles began to slow in June, the latest month with comprehensive data, as higher interest rates took a bite out of what homebuyers were able and willing to pay.

The median price for a house in NELA in June was $1.218 million, $28,000 lower than in May (a 2% drop). It was the first decline in the monthly median since November 2020. There’s more. Click to read about it.

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Top dollar for a tiny bungalow in Glassell Park

By Jeffery Marino

At 456 square feet, this 1-bed, 1-bath bungalow in Glassell Park was the smallest single family home sold in May in Northeast Los Angeles. And with a sale price of $750,000 — or $1,654 per square foot — it was also the most expensive home sold in the region foot-for-foot. 

It’s hard not to see a sale like this one as a sign of a market top. Then again, for a long time now, the growth in home prices in NELA has exceeded expectations. What is the little bungalow in Glassell Park telling us? Click for more!

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This 2-bedroom, 1-bathroom house in Eagle Rock sold in May for $1.27 million. The sale price was 37% above the asking price. The house was off the market in only 23 days.

There are not enough homes in NELA for the people who want to live here

By Jeffery Marino Theoretically, the current upturn in prices and interest rates should slow down the market for residential real estate because higher prices and rising rates reduce buyers’ purchasing power.   But as of May, the latest month with full housing data, there was no sign of a slowdown in Northeast Los Angeles. The […]

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Homeowners are reluctant to sell, but those who do are still cleaning up

By Jeffery Marino Two opposing factors are driving house prices in Northeast Los Angeles. Mortgage rates are up, which tends to put a damper on price growth. Inventory is down, which tends to pull prices up. Here’s how that dynamic is playing out so far: In April, the latest month with comprehensive sales data, the […]

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Before-and-after pics: This Mt. Washington remodel sold for more than $1 million over the asking price

The median price for a home in NELA hit $1.2 million in April as buyers paid 13% above the asking price on average to snag a home. It was the largest average premium over asking on record.  Of course, averages are pulled up by homes that sell for far more than their asking prices. Case […]

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This Eagle Rock home Sold for $1.2 million and was off market in fewer than 30 days.

Prices continue to surge for homes in NELA as buyers outnumber sellers

By Jeffery Marino

In theory, rising interest rates should dampen home prices. But in Northeast Los Angeles, the residential real estate market is surging ahead even as mortgage rates rise.

We tell you why the real estate market is continuing strong in this monthly report by Jeffery Marino.

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The buyer of this $1.16 million home in Glassell Park moved fast and paid a premium: The home was off the market within eight days of being listed and sold for 7% more than the asking price.

High demand and low supply continue to drive NELA home prices skyward

By Jeffery Marino

The latest data for home sales in Northeast Los Angeles show a hot, tight market that just keeps getting hotter and tighter.

The hot, tight conditions fave buyers in a frenzy. What could cool the market in NELA? Click on the photo above to find out.

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This Highland Park home, under contract after only nine days on the market, sold in January for $1.15 million, fully $155,000 over the asking price.

Paying a million dollars or more for a home in NELA is now the rule, not the exception

By Jeffery Marino At $1.1 million, the median price of a house in Northeast Los Angeles was unchanged from December 2021 to January 2022.    But the pause in price increases looks temporary for the simple reason that there are still more buyers in NELA than houses for sale. The dearth of homes on the […]

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This Spanish Colonial in Eagle Rock sold in January for $2.45 million, the highest price paid that month for a house in NELA.

Before-and-after pictures of a multi-million-dollar flip in Eagle Rock

The highest price paid in January for a home in Northeast Los Angeles — $2.45 million — was for a 4-bed, 3.5-bath Spanish Colonial on Wawona St. in Eagle Rock.

The home was listed for sale in November 2021 for $1.649 million. It was off the market in just under two weeks — and sold for $801,000 over the asking price.

Check out the rare before-and-after pictures in the slideshow. Click the photo to do that.

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Foot-for-foot, this fun-size Mt. Washington bungalow was the most expensive home sold in NELA in December 2021 | Photo MLS

Really big money for really little homes in NELA

By Jeffery Marino

In the real estate market of Northeast Los Angeles, where a price tag of $1.1 million is the norm, you might be surprised to see what a mil actually gets you. 

The following two homes, one in Mt. Washington and one in Highland Park, sold in December for a tad under $1 million but at well over $1,000/square foot. Details here. Read more.

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This 2-bed, 2-bath in Highland Park sold for $1,100,000 in December 2021.

NELA home prices keep surging upward

By Jeffery Marino

The residential real estate market in Northeast Los Angeles boils down to this: On one side, you have a hoard of buyers. On the other side, you have a dearth of homes for sale. The result is more competition for fewer homes – and rapidly rising prices.

The median sale price for a home in NELA reached $1.1 million in December, the latest month with comprehensive data. That million-dollar-plus price tag marks a 20% increase over December of 2021, the largest annual price gain since June 2014. It’s also the 11th straight month of double-digit, year-over-year price increases. For our take on why this continues, read on;

Click photo above for more.

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The seller of this Highland Park home accepted an offer that was $80,000 over asking, bringing the price to $1.065 million.

Buyers race to buy homes in NELA as the sellers’ market surges ahead

By Jeffery Marino An imbalance of supply and demand continued to push up house prices in Northeast Los Angeles in November, the latest month with comprehensive sales data. The inventory of homes for sale in NELA was down 45% in November compared to a year ago, the steepest inventory decline in NELA since April of […]

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This 3-bed, 2-bath architectural gem of a house in Eagle Rock was one of the highest priced home sales in NELA in 2021.

The Top NELA Home Sales of 2021

By Jeffery Marino

We are rounding up NELA’s highest-dollar sales of the year. Three of them are presented here along with the all-time highest-dollar sale on record. How much did the top 2021 sales go for? What neighborhoods are represented on this Jeffery Marino special report giving you the details on the year’s biggest deals. Read more for more.

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4847 Genevieve Ave in Eagle Rock offers Two for the Price of One alchemy.

Two homes sell for the price of one in Eagle Rock

By Jeffery Marino

Eagle Rock just got a little denser with the sale in October of 4847 Genevieve Ave.

Over the past year and a half, neighbors have watched as the lot was transformed from a single-family fixer with lots of potential into two brand new, self-contained homes. 

The transformation was undertaken by ADU Homes, Inc. Read what they did and how they did it here.

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Typical in every way: This Highland Park house sold in October in a mere six days for $1.1 million, fully $125,000 above the asking price.

As down payments rise, many buyers rely on gifts from family

By Jeffery Marino

What’s a first-time homebuyer to do?

As home prices rise, so do down payments. The median sale price for a home in Northeast Los Angeles was $1.075 million in October. At that price, a buyer would need $215,000 to make a 20% down payment.

To make matters more difficult, buyers who need time to save up for a house are likely to find that home prices rise faster than their savings accounts. There’s more. Read on.

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This house in Glassell Park sold recently for $1.225 million, a big premium over the seller's asking price.

The two fastest selling homes in NELA in September were priced to sell at just under $1M

By Jeffery Marino

Ever since last May, when the median sale price for a home in Northeast Los Angeles hit the $1 million mark, sellers have been taking the “just under” pricing approach: Put the house on the market for just under $1 million and count on buyer competition to push the price into seven figures. 

This strategy clearly has worked. See how it worked for the sellers of the two houses featured in this report.

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This 2-bed, 1-bath home on Cunard St. in Glassell Park sold recently for $1.07 million, fully 25% more than the asking price.

Faster pace, higher prices for recent NELA home sales

By Jeffery Marino

Another month, another record. In September, the latest data available, the median sale price for a house in NELA continued its steep climb, rising 14% year-over-year, to $1.065 million. September was the eighth straight month of double-digit annual price growth.

Prices are up because inventory is low and falling.. The home sales market dynamically complex. Get the main point here.

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This $1.34 million home in Eagle Rock was under contract in eight days and sold for nearly $250,000 over asking.

The seller’s market in NELA real estate surges on

By Jeffery Marino

The latest home-sales data for Northeast Los Angeles, covering the month of August, give an especially clear picture of the market for residential real estate. 
So what do the data from August 2020 to August 2021 show?

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This newly constructed home in El Sereno sold recently for $1.025 million, exactly the median sale price in NELA in July. Prices at the median rose at a slower pace in July than in previous months.

NELA home prices *might* be leveling off

By Jeffery Marino

A small, really small, sliver in the most recent data for residential real estate sales in Northeast Los Angeles indicates, perhaps, that the leaps-and-bounds increases in NELA home prices may be slowing down.

Here are the clues:

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This chart shows the rapid rise in home prices in Northeast Los Angeles, more than tripling over the last nine years to a median of $1.02 million in June, 2021. / Data source: Redfin

In NELA, the hot housing market just keeps getting hotter

By Jeffery Marino

Another month, another record: In June, the median sale price for a home in NELA hit a new high of $1.02 million — a 19% annual increase over June 2020 and the highest year-over-year price jump since September 2018.

Which is to say, the NELA residential real estate market is showing no signs of slowing down

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This 2-bedroom, 1-bathroom house on Arthur Street in Glassell Park sold recently for $1.06 million.

The typical home in NELA now goes for $1 million

By Jeffery Marino

Another month, another record: In June, the median sale price for a home in NELA hit a new high of $1.02 million — a 19% annual increase over June 2020 and the highest year-over-year price jump since September 2018.

Which is to say, the NELA residential real estate market is showing no signs of slowing down What’s going on here?

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In NELA real estate, the asking price is just an opening bid

By Jeffery Marino Bidding wars are breaking out all over Northeast Los Angeles.  The sale-to-list ratio for homes in NELA hit a record in April of 107%, which means that, on average, homebuyers paid 7% more than the list price. However, some homes sold at far higher-than-average premiums. Here are the three NELA homes that […]

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The original asking price for this 4-bedroom, 2-bathroom home in Highland Park was nearly $1 million. After 166 days on the market, it sold for $850,000.

Three home sales that prove NELA buyers have not gone mad

Pandemic. Economic uncertainty. Political turmoil. Through it all, the housing market in Northeast Los Angeles continues to break records. Have NELA homebuyers lost their minds? The answer, in a word, is “No.” The main drivers of today’s prices are limited supply and healthy demand, as explained here.  Against that backdrop, the price of a house […]

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6408 Ruby Street, Highland Park | photo from MLS.

History for sale in Highland Park

Historical charm and architectural significance are two of the biggest draws for NELA real estate buyers. Far from the condominium blocks of the Westside and the cookie-cutter sameness of the Valley, buyers are clearly willing to pay a premium for an Eastside 1920s Spanish Colonial or 1950s Craftsman. These two turn-of-the-century architectural gems, which recently […]

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This craftsman in Eagle Rock, listed for sale for $949,000, sold in November for $1.285 million -- after only 33 days on the market. | Photo by The MLS.com

NELA Real Estate: Rising supply meets bottomless demand, boosting prices

By Jeffery Marino
Residential real estate in Northeast Los Angeles is a seller’s market like no other.

In November, the latest month with full sales data, both the number of homes for sale and the number of homes sold increased in NELA. Inventory rose by 7% year-over-year, boosted by a 34% increase in new monthly listings, while sales increased by 8% year-over-year. It was the third month in a row of rising inventory and sales.

And yet, through it all, home prices just kept climbing.

What’s going on? Click to know.

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This little bungalow in Highland Park recently sold for $482,000, significantly less than the Redfin estimate.

Here’s what you can get in NELA for under $600K

The median sale price for a home in Northeast Los Angeles recently hit $920,000, with even small Highland Park bungalows like this one selling for over $800,000. But even amid rising prices, it’s possible — not easy, but possible — to find an affordable home.  The following three homes are all fixer-uppers but none of […]

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Address: 4840 Malta St Neighborhood: Highland Park Sale Price: $1,225,000; Previous Sale Price: $620,000

Three NELA Homes That Were Flipped During the Pandemic

By Jeffery Marino Starting in 2008, in the teeth of the Great Recession, buy-to-sell real estate investment – also known as house flipping – took off in Northeast Los Angeles. Eagle Rock, Highland Park, Glassell Park, Mount Washington and Atwater Village were all transformed by real estate investors snapping up properties at the bottom of […]

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Helen Leung

Get to Know: Helen Leung

In the late 1980s and early 1990s, when Helen Leung was growing up in Elysian Valley, a.k.a. Frogtown, her parents gave her free rein over the neighborhood, allowing her and her sister to explore the gritty, industrial streets to their hearts’ content.  “One of my most vivid memories is of the day we decided to […]

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Get to Know: Angela M. Sanchez

Last month, on August 3, Angela M. Sanchez of Highland Park, 27, stood at a lectern center stage in the Moss Theater in Santa Monica, reading from Coyotes in Amarillo Heights, her fantastical, yet gritty young-adult novel about gentrification and a young Latina’s struggle to be true to herself amid conflicting expectations from her family and […]

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Get to Know: Ben Feinberg

Of the 25,000 teachers employed by the Los Angeles Unified School District, 22 were honored in June as Teacher of the Year for exceptional commitment to their students, schools and communities. One of them is Ben Feinberg, who teaches math at Luther Burbank Middle School in Highland Park, where he also coaches the award-winning Science […]

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Get to Know: Max Arias

In 1980, when Max Arias was five years old, his family – father and stepmother, mother and two sisters — fled the civil war in El Salvador, where his father, an economist, was active in politics and labor organizing with the then-outlawed leftist FMLN party. For young Arias, it was the second time he had […]

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NELA Real Estate in 2018: Big Money and Big Issues at Stake in Regulating Short-Term Rentals

Los Angeles is awash in short-term rentals (STRs) and neighborhoods in Northeast L.A. are no exception. A recent glance at Airbnb and other STR sites turned up 251 offerings in Highland Park at an average rate of $98 per night, 159 in Eagle Rock at an average rate of $159 per night and 118 in […]

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NELA Real Estate in 2018: Want to Buy a Fixer-Upper? Good Luck. 

  It’s no secret that many houses for sale in NELA in recent years have been flipped by investors who buy, remodel and quickly re-sell them for big profits. What is (somewhat) surprising is that investor buying remains strong even at today’s high prices – and that homebuyers are still paying up for recently rehabbed […]

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