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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NELA Real Estate: Rents in NELA Are Lower Than in Most of L.A. So Why Do I Feel Squeezed?

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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NELA Real Estate: Echo Park Home Prices Have Been Dropping. Will Prices in NELA Follow?

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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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: Adding a Rental Unit to Your Home Has Never Been Easier

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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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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