Is 70001, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 70001 was a Seller's Market.
Key Takeaway
70001 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 70001, LA
How much do homes in 70001, LA cost?
Median Sold Price
$319,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 70001 have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in 70001 was $319,000 in March 2024, up 2.9% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | $74.7K | -6.6% |
| 2 Bedrooms | $184.5K | $225K | +22.0% |
| 3 Bedrooms | $312K | $313.2K | 0.4% |
| 4 Bedrooms | $421.5K | $464.7K | +10.3% |
| 5+ Bedrooms | $665K | $420K | -36.8% |
Summary: 70001 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.6%, 2 bedroom homes increased by 22%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes decreased by 36.8%.
Housing Supply in 70001, LA
How many homes are available in 70001, LA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 148 | 173 | +16.9% |
Summary: The 70001 real estate market had 173 homes for sale in March 2024, a 16.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 12 | +50.0% |
| 2 Bedrooms | 28 | 29 | +3.6% |
| 3 Bedrooms | 79 | 91 | +15.2% |
| 4 Bedrooms | 22 | 31 | +40.9% |
| 5+ Bedrooms | 11 | 10 | -9.1% |
Summary: The 70001 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 40.9%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 28 | +100.0% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 70001, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 28 homes were sold or pending in 70001 in March 2024, up by 100.0% month-over-month. Of the 28 sold homes, 71% were sold under asking, 11% were sold at asking, and 18% were sold over asking.
Days on Market for 70001, LA
How long does it take to sell a home in 70001, LA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 74 Days | 37 Days | -49.9% |
Summary: Homes in 70001 had an average of 37 days on market in Mar 2024, down by 49.9% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 70001 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 28 homes were sold in 70001; 61% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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