Real estate in Glassell Park, a hilly neighborhood adjacent to the red-hot Mt. Washington and Highland Park, are in high demand. Real estate prices in Glassell Park are rising and home inventory is shrinking, creating a seller's market. But why is this happening now when the area has been undiscovered for so long? Let's see what the numbers tell us about this special community.
Glassell Park is a moderately diverse neighborhood located in Northeast Los Angeles. Glassell Park is located south of Glendale, west of Eagle Rock, and northeast of Mount Washington. This neighborhood is quite hilly and provides its residents with stunning views. During the housing boom of the 2000s, a large group of middle-class people moved to Glassell Park because of the affordability and abundance of Craftsman homes. The average temperature for the coldest month of the year, December, is 57 degrees. January is the month with the most precipitation at 4.6 inches.
Area Vibes gave Glassell Park a livability score of 72, very livable, which is higher than the national average of 70. The walk score says Glassell Park is 61, with a transit score of 44 and a bike score of 38. Therefore, Glassell Park is somewhat walkable and some errands can be done by walking. There is some public transport with scores and few cycle paths.
As of the 2000 U.S. Census, the area had a population of 23,467 within 2.75 square miles. This equates to 8,524 people per square mile, which is the average density for Los Angeles. The ethnic distribution was as follows: Latino: 66.1%, White: 13.7%, Asian: 17.4%, Black: 1.4%, and other 1.4%. 51.5% of its population was born abroad, with the top two being Mexico at 49.3% and the Philippines at 16.2%. The average age of the residents was 30 years; that's the average for the city and county of Los Angeles. 19% of residents 25 and older have earned a four-year degree. There, 4.8% of the population was listed as veterans.
The median household income in Glassell Park was $50,098, which is the average for the city and county of Los Angeles. This is 21% more than the national average. Tenants live in 56.2% of the housing stock; that's 55% more than the national average. The remaining 43.8% are owners, these numbers are 30% lower than the national average.
According to Zillow, homes in Glassell Park are valued at an average of $713,700. That's a 9.3% increase over last year and they expect another 2.6% increase next year. The median home price on the market is $675,000; that's 148% more than the national average. The condition of the market is rated at 3.8 out of 10 compared to other markets in the whole region. The average price per square foot is $499, which is higher than the Los Angeles average of $448. The current market temperature is “cool” which is perfect for a buyer's market. The average rental price is $2,900, which is 33% higher than the national average.
When buying and selling real estate in Glassell Park, buyers and sellers should consult with an experienced real estate agent who specializes in the area.
