Real Estate – BoulevardSentinel.com

Real Estate Sales – November 2022

01/12/2023 Jeffery Marino1799

By Jeffery Marino
The houses pictured above sold in November 2022 at or near the median sales price for each neighborhood. To see the most current complete listing of houses sold in every NELA neighborhood click the image above.

This two-bed, two-bath bungalow in Mt. Washington sold for $1.16 million after 30 days on the market – a high price and fast pace in today’s market. Still, the sellers settled for $100,000 less than they asked for.

The NELA housing market settles into a slow-growth mode

01/02/202301/02/2023 Jeffery Marino5181 Comment

By Jeffery Marino The median price for a home in Northeast Los Angeles ticked up recently, but fundamentally, the local housing market remains soft. In November, the latest month will full housing data, the median house price in NELA was $1.14 million, compared to $1.09 million the month before. The price bump may be due […]

Architectural gem in Eagle Rock sells for $3 million+

01/02/202301/02/2023 Jeffery Marino7362 Comments

Designed and built by Eagle Rock architect, Oakley L. Norton, this stunning four-bed, three-bath estate sold for $3.125 million in November. The price tag apparently surprised even the sellers, who listed the home for $1.995 million on Oct. 13. But the bids quickly escalated and the home was under contract in 10 days — with […]

Tracking the slowdown in NELA real estate

12/02/202212/02/2022 Jeffery Marino569

By Jeffery Marino Home prices in Northeast Los Angeles continued to cool down in the fall, as higher interest rates and persistent inflation took their toll on NELA’s once surging market for residential real estate. The median sale price for a home in NELA was $1.09 million in October, the latest month with comprehensive data. […]

Graphic by Alexandra Epstein

Real Estate Sales – October 2022

12/13/202212/13/2022 Jeffery Marino1613

By Jeffery Marino
The houses pictured above sold in October 2022 at or near the median sales price for each neighborhood. To see the most current complete listing of houses sold in every NELA neighborhood click the image above.

Two homes on one lot in Highland Park are a good deal for the developer and the buyers

11/13/202211/23/2022 Jeffery Marino733

By Jeffery Marino In Los Angeles, where housing is in critically short supply, there are more questions than answers about how and where to build. But one developer in Highland Park has come up with a solution, creating two homes (one remodeled and one new construction) on a single lot and proving in the process […]

Graphic by Alexandra Epstein

Real Estate Sales – September 2022

11/09/202211/10/2022 Jeffery Marino1505

By Jeffery Marino
The houses pictured above sold in September 2022 at or near the median sales price for each neighborhood. To see the most current complete listing of houses sold in every NELA neighborhood click the image above.

This Highland Park home was listed for $1.3 million in June and sold in September for $1.14 million. Many homes in NELA that were listed at top dollar in the summer have sold at a discount months later.

Lower and slower: Home sales in Northeast L.A. adjust to higher mortgage rates

10/31/202211/11/2022 Jeffery Marino604

By Jeffery Marino

Home prices in Northeast Los Angeles decreased in September as mortgage rates averaged about 6%. Since then, rates have increased to 7%, so when data for October is in, prices are all but certain to be lower still.

In September, the median sale price for a home in NELA was $1.125 million, down 3% from August. Prices have declined month-over-month since June.

Looked at on an annual basis, prices were higher in September than a year ago, but the increase – 6% — is the lowest annual price growth since July 2020. There’s more. Click house image above to continue.

As the market softens, prices drop: These homes in NELA sold for a lot less than the owners hoped

10/14/202210/17/2022 Jeffery Marino9051 Comment

By Jeffery Marino

It’s a truism of real estate that home sellers are usually the last to catch on when the market goes south. Having spent years on the sidelines as bidding wars drove up prices, they tend to price their own homes based on the dynamics of the past rather than the realities of the present.

The two homes featured below, one in Highland Park and one in Atwater Village, illustrate this point. Read more to see why.

Graphic by Alexandra Epstein

Real Estate Sales – August 2022

10/14/2022 Jeffery Marino14731 Comment

By Jeffery Marino
The houses pictured above sold in August 2022 at or near the median sales price for each neighborhood. To see the most current complete listing of houses sold in every NELA neighborhood click the image above.

Here’s what the slowdown in the housing market looks like, for now

10/04/202210/04/2022 Jeffery Marino665

By Jeffery Marino

Ever since interest rates began to rise in March, home sellers and home buyers alike have been looking for signs of a housing-market slowdown.

In Northeast Los Angeles, those signs are unmistakable in data for August, the latest full month of statistics. To get the latest facts on the ground, click on this Boulevard Sentinel exclusive.

Real Estate Sales – July 2022

09/16/202209/16/2022 Jeffery Marino1338

By Jeffery Marino
The houses pictured above sold in July 2022 at or near the median sales price for each neighborhood. To see the most current complete listing of houses sold in every NELA neighborhood click the image above.

What $3 million+ can buy you in NELA

09/08/2022 Jeffery Marino9559 Comments

By Jeffery Marino

The $3 million-plus home in our slideshow this month — located on Live Oak in Eagle Rock — is new construction.

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

09/08/202209/08/2022 Jeffery Marino541

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.

House prices in NELA dip as borrowing costs rise

08/09/202208/20/2022 Jeffery Marino662

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.

Priced too high, these three homes sold for less than their asking prices

08/08/202208/10/2022 Jeffery Marino1261

By Jeffery Marino

It’s hot outside, but in the first week of August, the housing market in Northeast Los Angeles started to cool off. Here are three NELA homes that went for less than the sellers had hoped.

Want to know how much got shaved off the asking prices, Take a minute, not more, and you will know that and more.

Top dollar for a tiny bungalow in Glassell Park

07/08/202209/08/2022 Jeffery Marino1204

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!

Graphic by Alexandra Epstein

Real Estate Sales – May 2022

07/05/202207/11/2022 Jeffery Marino1291

By Jeffery Marino
The houses pictured above sold in May 2022 at or near the median sales price for each neighborhood. To see the most current complete listing of houses sold in every NELA neighborhood click the image above.

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

06/29/202207/01/2022 Jeffery Marino991

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 […]

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

05/26/202206/01/2022 Jeffery Marino90810 Comments

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 […]

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

05/26/202205/26/2022 Jeffery Marino12037 Comments

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 […]

A hovel in Mt. Washington, likely a teardown, sells for $1.1 million

05/03/202205/13/2022 Jeffery Marino13297 Comments

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.

Final drawing of the proposed development on Avenue 64 near York Boulevard, as approved by L.A. City Planning.

Garvanza development is a go, despite community opposition

04/29/202205/13/2022 Bill Hendrickson135014 Comments

By Bill Hendrickson

A coalition of individuals and organizations in Highland Park has failed in its effort to block the development of a massive apartment building at the entrance to the neighborhood’s historic Garvanza district.

The defeat came on Thursday when the City Planning Commissioners voted 8-0 to reject the coalition’s appeal of an earlier decision by the city to approve the development, to be built near the intersection of York Boulevard and Avenue 64.

Recent Real Estate Sales in NELA – April 2022 edition

04/30/202207/05/2022 Jeffery Marino1023

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

05/03/202205/04/2022 Jeffery Marino9902 Comments

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.

Before-and-after pics of a multi-million-dollar flip in Atwater

03/31/202203/31/2022 Jeffery Marino1212

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 […]

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

03/29/202203/29/2022 Jeffery Marino910

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.

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

02/28/202202/28/2022 Jeffery Marino1180

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 […]

Recent Real Estate Sales in NELA – March 2022 edition

03/12/202205/13/2022 admin12772 Comments

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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

02/28/202203/09/2022 Jeffery Marino25405 Comments

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.

Recent Real Estate Sales in NELA – February 2022 edition

02/13/2022 Jeffery Marino1375

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

02/01/202202/14/2022 Jeffery Marino18851 Comment

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.

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

NELA home prices keep surging upward

02/03/202202/10/2022 Jeffery Marino1513

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.

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

01/04/202201/12/2022 Jeffery Marino18681 Comment

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 […]

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

01/03/202201/04/2022 Jeffery Marino2007

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.

Recent Real Estate Sales in NELA – January 2022 edition

01/10/202201/10/2022 Jeffery Marino1098

A deal to sell Pillarhenge is in the works; will the sale close?

12/21/202112/31/2021 Bill Hendrickson263511 Comments

By Bill Hendrickson Imad Boukai, the Orange County businessman who owns the Pillarhenge site in Eagle Rock, has entered into a contract to sell the property. Located at 1332 Colorado Boulevard, Pillarhenge had been on the market for 12 days before the contract was signed on Dec. 18. The asking price was $2.99 million, though […]

Artwork by Boulevard Sentinel

Recent real estate sales in NELA

12/21/2021 Jeffery Marino14736

What have homes in your neighborhood been selling for? Here is the latest sales data for single family homes in NELA.

Two homes sell for the price of one in Eagle Rock

12/02/202112/12/2021 Jeffery Marino2583

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.

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

11/29/202112/03/2021 Jeffery Marino1314

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.

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

11/01/202111/09/2021 Jeffery Marino2419

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.

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

10/29/202111/09/2021 Jeffery Marino1944

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.

The seller’s market in NELA real estate surges on

10/01/202110/18/2021 Jeffery Marino15691 Comment

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?

City approves reviled development in Garvanza, local coalition appeals the decision

10/05/202110/10/2021 Bill Hendrickson23691 Comment

By Bill Hendrickson

A coalition of organizations and individuals in Highland Park is appealing the city’s approval of a controversial apartment development at N. Avenue 64 near York Boulevard in Highland Park’s historic Garvanza district.

The development, approved by the City Planning Department on September 16, calls for a three-story building measuring nearly 60,000 square feet

Recent real estate sales in NELA

09/13/202109/17/2021 Jeffery Marino14541

What have homes in your neighborhood been selling for? Here is the latest sales data for single family homes in NELA.

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

09/01/202109/24/2021 Jeffery Marino18051 Comment

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:

Blocks apart in Cypress Park: A nearly million-dollar remodel and an affordable fixer-upper

09/03/202109/24/2021 Jeffery Marino12448

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.

Tucked into a cul-de-sac in prime Mt. Washington, this 1979 contemporary resonates with modern sophistication | Photo from Tracy Do

Here’s what a million bucks buys you in NELA

08/01/202109/24/2021 Jeffery Marino2928

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.

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

08/01/202109/24/2021 Jeffery Marino2786

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

Artwork by Boulevard Sentinel

Recent real estate sales in NELA

08/01/202108/01/2021 Jeffery Marino14198

What have homes in your neighborhood been selling for? Here is the latest sales data for single family homes in NELA.

A dreamy find in Eagle Rock offering abundant outdoor space, far-reaching views and a wonderful sense of privacy | Photo from Tracy Do

The typical home in NELA now goes for $1 million

07/04/202109/24/2021 Jeffery Marino3094

By Jeffery Marino

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