clock menu more-arrow no yes mobile

Filed under:

Silver Lake Was LA's Hottest Real Estate Neighborhood in 2014

New, 2 comments

It's the last week in December, when according to tradition we make up a bunch of awards and hand them out to all the best, worst, and shitshowiest of things that happened in Los Angeles real estate, architecture, and neighborhoods this year. These are your 2014 Curbed Awards.

Silver Lake, you quiet storm! We were focusing on Redfin's predictions about Eagle Rock and Cheviot Hills's hotness, but neither of those communities saw a burned out shack sells for $176,000 over its already ambitious asking price in 2014. Only in Silver Lake, and that's why it's Los Angeles's hottest real estate neighborhood of the year, according to listings site Redfin. (Not that Northeast LA wasn't super hot in 2014.)

Redfin looked at the competition for housing (number of offers) and the percentage of places that sold above their asking price. Silver Lake's median sales price this year was a robust $822,000. The average number of offers there was 3.6, and nearly 56 percent of homes sold over their asking prices. And all that happened pretty quickly: homes spent an average of just 15 days on the market.

Unsurprisingly, Los Angeles's hottest zip code includes a big chunk of Silver Lake, but not necessarily the part you'd think—90026 covers the southern part of the neighborhood, below the Silver Lake Reservoir, as well as Echo Park (which is probably doing alright on its own) and Historic Filipinotown. Silver Lake was also the fifth hottest neighborhood in the US, surpassed only by the Bay Area's most cutthroat hot spots and Boston's hip Jamaica Plain. Two neighborhoods to watch are Highland Park and North Hollywood, which also made the national list in the eleventh and twenty-ninth slots, respectively.

· The Most Competitive Neighborhoods for Homebuyers in 2014 [Redfin]
· The Three Hottest Houses of 2014 Were All in Northeast LA [Curbed LA]