The Northeast Los Angeles Market Update You've Been Waiting For

By: Tracy King Realty   04/15/2014
Keywords: sale

What a difference a year makes!

Within twelve short months the real estate market has done a complete turnaround:

• The number of homes listed for sale is at an all-time low. Today there are 16 homes for sale in Eagle Rock. This time last year there were 42. In Highland Park there are 25 for sale, compared with 81 Highland Park homes for sale last year.

• The number of buyers looking for a home is growing every day. As we talk with buyers at our open houses we're hearing less "I'm not sure we've hit the bottom yet" and more "I really want to buy a house now."

• Most homes that are market priced are selling in multiple offers over the asking price. All of the homes we've closed escrow on this year received multiple offers.

• The competition for homes is increasing every day. We recently submitted an offer for a client on a house that had 22 total offers, and went to an all cash offer.

• Many buyers are paying all cash, are willing to close in a very short period of time and will offer a lease back option if helpful to the seller.

• Interest rates continue to hover at historic lows.

Without a question, this is the best time to sell your home in the last five years.

If you are thinking of selling your home you might be very surprised at what a buyer will pay in today's market.

If you are interested in moving up, this is the perfect time. The opportunity to get a great price for your current home and buy a new home as values rise is incredible.

This could also be the ideal time to make a great real estate investment, whether you are thinking about buying or selling.

Real estate in Northeast Los Angeles is very exciting again!

Keywords: sale

Contact Tracy King Realty


Print this page

Other news and updates from Tracy King Realty


Why Buying a Home in Glendale, CA is a Good Idea

Glendale is the third largest city in Los Angeles County. This suburb of the Greater Los Angeles Area is the


Why Altadena, CA is a Great Place to Buy a Home

Altadena is a charming city located north of Pasadena, CA and south below the hills of the picturesque San Gabriel


Highland Park: A Look at Real Estate and Architecture

To those monitoring real estate trends in Los Angeles, it’s no surprise at all to know that the NELA district


Highland Park: The New Echo Park

Echo Park has the reputation of being one of the greatest neighborhoods in LA. It’s more affordable than Silver Lake,


Glassell Park Real Estate: It's All About Spacious Contemporary Hillside Homes

Glassell Park is a hilly span of land in Northeast Los Angeles and several areas of NELA have been experiencing


Los Angeles' Mt. Washington: A House Flippers Paradise

The Northeast Los Angeles community of Mt. Washington is one of LA’s hottest real estate markets. Homes for sale in


Living Life in Historic Highland Park

The Los Angeles community of Highland Park is an in-demand community whose rich history lays the foreground for a unique


Highland Park: Trendy for Real Estate and Dining

Los Angeles’ most exciting enclave is the chic, trend setting, artistic living Highland Park. And it isn’t just the rising


Eagle Rock: Trendy for Real Estate and Dining

Eagle Rock is a popular neighborhood based in the hilly region of Northeast Los Angeles. Notarized by a giant rock


Northeast LA Real Estate: It's All About the Views

Northeast Los Angeles represents one of the oldest areas of LA. But just because the neighborhoods in NELA are old


Buying an Older Northeast LA Home? Inspections are Vital

Northeast Los Angeles represents one of the oldest areas of LA. But just because the neighborhoods in NELA are old


Mt. Washington: One of LA's Hot Real Estate Neighborhoods in 2016

Let there be no mistake: Homes for sale in Mt. Washington, a hillside region of Northeast Los Angeles, are in


Glassell Park: An Up and Coming Real Estate Market

Glassell Park is a charming community sandwiched in the middle of Northeast Los Angeles between several other neighborhoods that have


Simple ways to Update Your Northeast Los Angeles Home for Sale

For artsy and “hot” market neighborhoods like Highland Park, Eagle Rock and Mt. Washington, buyers expect a lot. Updating a


Selling Your Pasadena, CA Home? Stage it Like a Pro.

Homes in Pasadena, CA never go out of style. Pasadena real estate is always a hot commodity. Why? For many