Is 70005, 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, 70005 was a Seller's Market.
Key Takeaway
70005 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 70005, LA
How much do homes in 70005, LA cost?
Median Sold Price
$399,500
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in 70005 has remained the same since last year.
Summary: The median home sold price in 70005 was $399,500 in March 2024, down 0.1% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $121K | $113.2K | -6.4% |
| 2 Bedrooms | $250K | $248.5K | -0.6% |
| 3 Bedrooms | $395K | $372.5K | -5.7% |
| 4 Bedrooms | $749.5K | $660K | -11.9% |
| 5+ Bedrooms | $955K | $1.2M | +31.4% |
Summary: 70005 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.4%, 2 bedroom homes decreased by 0.6%, 3 bedroom homes decreased by 5.7%, 4 bedroom homes decreased by 11.9%, and 5+ bedroom homes increased by 31.4%.
Housing Supply in 70005, LA
How many homes are available in 70005, LA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 138 | 150 | +8.7% |
Summary: The 70005 real estate market had 150 homes for sale in March 2024, a 8.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 14 | 13 | -7.1% |
| 3 Bedrooms | 57 | 64 | +12.3% |
| 4 Bedrooms | 40 | 44 | +10.0% |
| 5+ Bedrooms | 21 | 24 | +14.3% |
Summary: The 70005 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 23 | +27.8% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 70005, you may be able to get a good deal. 87% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in 70005 in March 2024, up by 27.8% month-over-month. Of the 23 sold homes, 87% were sold under asking, 13% were sold at asking, and 0% were sold over asking.
Days on Market for 70005, LA
How long does it take to sell a home in 70005, LA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 46 Days | 59 Days | +27.8% |
Summary: Homes in 70005 had an average of 59 days on market in Mar 2024, up by 27.8% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 70005 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 23 homes were sold in 70005; 35% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
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