Market Update (Hollywood Hills East, Los Feliz, Silver Lake, Echo Park)

I was thumbing through the MLS yesterday and pulled up a very interesting market report. In the last 30 days, 32 single family houses have sold in the Hollywood Hills East, Los Feliz, Silver Lake and Echo Park. Get this...(I know that most of the buyer's reading this do not want to hear this but this is what is happening in our market...) 13 out of the 32, or 40% of the homes sold, sold at the seller's asking price or higher. This means that there were a lot of multiple offer situations going on. Best of luck to you Buyers and Sellers.