By Jeffery Marino
With the median sale price for a home in Northeast Los Angeles now closing in on $1.2 million, six-figure price tags are more common than not.
But it’s still possible to be shocked by what sells these days for upwards of $1 million. For a case in point, read on.
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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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By Jeffery Marino Here we go again: The featured home this month is this 3-bed, 2-bath Spanish Colonial in Atwater Village purchased six months ago for $1.28 million, remodeled and then sold in February for $2.11 million. That works out to a gross gain of $830,000. It’s safe to say that the sellers did not expect […]
Continue ReadingBy 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.
Continue ReadingBy 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 […]
Continue ReadingThe 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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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.
Continue ReadingBy 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.
Continue ReadingBy 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 […]
Continue ReadingBy 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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What have homes in your neighborhood been selling for? Here is the latest sales data for single family homes in NELA.
Continue ReadingBy 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.
Continue ReadingBy 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.
Continue ReadingBy 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.
Continue ReadingBy 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.
Continue ReadingBy 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?
What have homes in your neighborhood been selling for? Here is the latest sales data for single family homes in NELA.
Continue ReadingBy 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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By Jeffery Marino
With the median sale price in NELA topping out at $1.025 million in July, it’s hard to imagine finding anything one might call “affordable.” Even fixer uppers are going for prices in the mid-six figures. We looked at Cypress Park for affordablily. Here is what we found.
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By Jeffery Marino
In June, the median sale price for a home in Northeast Los Angeles edged above the $1 million mark, to $1.02 million.
So, what can you buy in NELA for that kind of money? Jeffery Marino will tell you here.
Continue ReadingBy 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
Continue ReadingWhat have homes in your neighborhood been selling for? Here is the latest sales data for single family homes in NELA.
Continue ReadingBy 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?
Continue ReadingWhat have homes in your neighborhood been selling for? Here is the latest sales data for single family homes in NELA.
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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 […]
Continue ReadingBy Jeffery Marino
The median sale price for a home in Northeast Los Angeles is closing in fast on $1 million. New listings flooded the Market. Catch the details here.
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By Jeffery Marino Originally listed in January, this pair of newly built homes, nestled next to each other on the corner of Aldama and Roy in Highland Park, recently closed for $1.56 million and $1.49 million, respectively. According to data available on Redfin.com, the lots were sold together in June of 2016 for a total […]
Continue ReadingBy Jeffery Marino
The market dynamics in NELA are clear: Buyers are plentiful. Houses are scarce. Prices are up. Want to know why? We tell you why in this report.
What have homes in your neighborhood been selling for? Here is the latest sales data for single family homes in NELA.
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Home are selling fast in Northeast Los Angeles at prices well above asking. The median days on market in February was 45, which is two days faster than in February 2020, while the sales-to-list ratio, which compares the sale price to the asking price, was 104%. Still, some homes — like the three featured below […]
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With prices for homes in Northeast Los Angeles going nowhere but up, it’s hard to believe that hopes were high for a buyer’s market as recently as 2019 and early 2020.
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Continue ReadingWhat have homes in your neighborhood been selling for? Here is the latest sales data for single family homes in NELA.
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By Jeffery Marino Last month, we featured homes that proved NELA home buyers had not totally lost their minds. Those homes sat on the market for over 30 days (several months in some cases) and then sold at a discount, suggesting there was still a limit to what buyers were willing to pay. This month, […]
Continue ReadingBy Jeffery Marino
Continue ReadingPandemic. 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 […]
Continue ReadingBy Jeffery Marino
By every measure, the recent market for residential real estate in Northeast Los Angeles is the strongest on record in data going back to 2012. Read about some of those records in this story.
Here is the latest sales data for single family home sales in NELA. See what sales have been doing near you.
Continue ReadingBy Jeffery Marino
By every measure, the recent market for residential real estate in Northeast Los Angeles is the strongest on record in data going back to 2012. Read about some of those records in this story.
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 […]
Continue ReadingBy 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.
Continue ReadingHere is the latest sales data for single family home sales in NELA. See what sales have been doing near you.
Continue ReadingThe 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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By Jeffery Marino
Continue ReadingHere is the latest sales data for single family home sales in NELA. See what sales have been doing near you.
Continue ReadingHere is the latest sales data for single family home sales in NELA. See what sales have been doing near you.
Continue ReadingBy 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 […]
Continue ReadingHere is the latest sales data for single family home sales in NELA. See what sales have been doing near you.
Continue ReadingBy Jeffery Marino
The premium that buyers are willing to pay for small houses is exploding. Here are three examples of just that!
By Jeffery Marino
Continue ReadingHere is the latest sales data for single family home sales in NELA. See what sales have been doing near you.
Continue ReadingHere is the latest sales data for single family home sales in NELA. See what sales have been doing near you.
Continue ReadingHere is the latest sales data for single family home sales in NELA. See what sales have been doing near you.
Continue ReadingBy Jeffery Marino
Continue ReadingHere is the latest sales data for single family home sales in NELA. See what sales have been doing near you.
Continue ReadingBy Jeffery Marino
Continue ReadingBy Jeffery Marino
Continue ReadingHere is the latest sales data for single family home sales in NELA. See what sales have been doing near you.
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Casa de Clarke, a new program in Highland Park to help homeless people move from the street into housing in six months’ time, was originally called “Casa de Caridad.” But last April, the first group of 10 people enrolled in the program noticed that CDC, the shorthand for Casa de Caridad, could also stand for […]
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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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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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When Michael Martinez was studying Youth Ministry at Azusa Pacific University with plans to be a pastor, he had no idea he would eventually become the composting evangelist of Los Angeles County. But as the founder and Executive Director of L.A. Compost, a composting collective, that is precisely what he is today, spreading the word […]
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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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By all accounts, L.A. is one of the most expensive cities in America. With median home prices in Eagle Rock, Glassell Park and Mount Washington now approaching the million-dollar mark, NELA is officially among the priciest housing markets in L.A. But not everyone on the Eastside is a homeowner. In fact, renters account for the […]
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Echo Park is the only neighborhood on the eastside of L.A. where homes are now selling for less than they did a year ago, according to a review by the Boulevard Sentinel of 10 eastside neighborhoods tracked by Redfin.com From March through May 2018, monthly home prices in Echo Park have declined year-over-year, with the […]
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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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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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Laws passed in 2016 and 2017 have made it easy to convert garages into apartments, renovate back houses and build new free-standing apartments in one’s backyard. Homeowners seem to love the idea: In the year after the new laws took effect, nearly 2,000 applications were filed in Los Angeles for building permits for “accessory dwelling […]
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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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It’s cliché at this point to say that the real estate market is “hot” in Northeast Los Angeles. It has been five years since Redfin, a real estate firm, ranked Highland Park as the nation’s hottest neighborhood and four years since Eagle Rock came in second in that same ranking. 2017 was yet another blockbuster […]
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