Featured image credit: Clyde Charles Brown
When it comes to property value in the chic neighborhood of Silver Lake LA, the Silver Lake Reservoir exerts a surprising amount of influence. Situated literally and figuratively at the center of the community, the reservoir has gradually shifted the priorities of homebuyers through its promise of recreation, its protections, and its occasional updates. It’s integral that any real estate agent hoping to serve this highly desirable community recognize why the reservoir remains so important to the Silver Lake experience.
Silver Lake’s Communal Backyard
The reservoir itself is woven tightly into the Silver Lake LA lifestyle. Visit it at any given time, and you’ll find joggers passing leisurely strollers, dogs joyously frolicking in the designated dog parks, and tastemakers, jetsetters, and diverse bohemian characters enjoying the sunshine in the lush, open meadows. It’s like a communal backyard. With the reservoir serving as a super-amenity, the closer a homeowner can get to the reservoir, the better. This goes double for buyers who demand easy access to the outdoors, rigidly adhere to morning routines, or just want a direct line to community life. But reservoir-side properties (and even those within walking distance) come at a premium.
Preservation Influencing Inventory
Preservation efforts around the reservoir have also limited inventory in Silver Lake LA, making it all the more desirable. At the end of the century, the community mobilized to bring recognition to the reservoir’s cultural significance, establishing protections that put limits on large-scale redevelopment projects. While this effectively pushed new construction out into areas that neighbored the reservoir, limited teardown and high-density projects around the reservoir created an overall diversity in the inventory that’s unusual, even for a Los Angeles neighborhood. Whether you’re looking for a hillside bungalow, a mid-century masterpiece, or a historic property, Silver Lake has it. Now, whether it’s available? That’s another story.
The Future of Silver Lake Reservoir
Despite the push for preservation, the reservoir still tends to evolve. And whenever a proposal for park improvements moves forward, a new wave of buyers washes over the market in Silver Lake LA. Currently, a long-term plan to redraw the reservoir’s edge for a more cohesive blend of urban and recreational use has been generating even further interest in the neighborhood. Future developments like this frame Silver Lake homes as more than houses, but rather as long-term investments.
Silver Lake Over the Years
While those only familiar with the modern market may think Silver Lake LA has been eternally hot, there was a point not that long ago when it was considered a hidden gem. However, media over the last decade in particular has emphasized the demand for homes in the Silver Lake area. And much of that demand is directly linked to the reservoir and the myriad of cultural amenities it provides. Today, homes in the Silver Lake consistently sell for over the asking price and exhibit rapid appreciation, especially for those properties closest to the reservoir.
Getting Into (or Out of) Silver Lake LA
Buyers hoping to find a way into the Silver Lake community often can’t afford to be too picky. Still, they should give careful consideration to walkability and the long-term plans in motion for the reservoir when mulling over a specific property. Sellers will likely recognize these benefits and emphasize them in marketing. As for agents interested in making Silver Lake LA their community of focus, staying up to date on public development proposals and conservancy initiatives can be immensely helpful in gauging demand. Whether you’re planning to buy or sell in Silver Lake, our knowledgeable agents can use their intimate familiarity with the area to your benefit. Reach out today!
With a brand that says as much as JohnHart’s, Senior Copywriter Seth Styles never finds himself at a loss for words. Responsible for maintaining the voice of the company, he spends each day drafting marketing materials, blogs, bios, and agent resources that speak from the company’s collective mind and Hart… errr, heart.
Having spent over a decade in creative roles across a variety of industries, Seth brings with him vast experience in SEO practices, digital marketing, and all manner of professional writing with particular strength in blogging, content creation, and brand building. Gratitude, passion, and sincerity remain core tenets of his unwavering work ethic. The landscape of the industry changes daily, paralleling JohnHart’s efforts to {re}define real estate, but Seth works to maintain the company’s consistent message while offering both agents and clients a new echelon of service.
When not preserving the JohnHart essence in stirring copy, Seth puts his efforts into writing and illustrating an ongoing series entitled The Death of Romance. In addition, he adores spending quality time with his girlfriend and Romeo (his long-haired chihuahua mix), watching ‘70s and ‘80s horror movies, and reading (with a particular penchant for Victorian horror novels and authors Yukio Mishima and Bret Easton Ellis). He also occasionally records music as the vocalist and songwriter for his glam rock band, Peppermint Pumpkin.
