Silver Lake's real estate market hit a new high with the sale of 1844 Silverwood Terrace for $10 million, eclipsing the previous record of $8.6 million from 2014. Citing trends, local real estate experts noted that the area hadn't seen sales above $5-$6 million recently. The property, marketed with unique strategies like candles and music, received multiple offers before closing above the asking price. Despite the record, experts suggest that future price trends will depend on specific property factors.
The sale of 1844 Silverwood Terrace for $10 million marks a new record in Silver Lake, surpassing its previous high of $8.6 million set in 2014.
Mogharrabi notes that while Silver Lake hasn't seen high sales recently, the significant closing price for Silverwood Terrace may indicate potential upward trends in housing prices.
The marketing strategies for the Silverwood Terrace property, including candles and music, contributed to its successful sale above asking price, emphasizing the importance of presentation.
The property includes five bedrooms and five bathrooms in over 5,000 square feet, showcasing features that appeal to luxury buyers in the Silver Lake area.
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