Is 70006, LA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 70006 is a buyer's market

Buyer's
Market

Difference Since April 2023

At the same time last year, 70006 was a Seller's Market.

Key Takeaway

70006 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 70006, LA

How much do homes in 70006, LA cost?

Median Sold Price

$349,900

$164/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$14,900(+4.4%)

Key Takeaway

Homes in 70006 have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in 70006 was $349,900 in April 2024, up 4.4% from last year, and the median price per square foot was $164.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $135K$133K
-1.5%
2 $154K$148.5K
-3.6%
3 $316.2K$304K
-3.9%
4 $408.7K$391K
-4.3%
5+ $467.8K$480K
+2.6%

Summary: 70006 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.5%, 2 bedroom homes decreased by 3.6%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 2.6%.

Median Sold Price Compared To Nearby Zip Codes

70006
+4.4%
70001
0.2%
70002
0.0%
70003
-7.3%

Housing Supply in 70006, LA

How many homes are available in 70006, LA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
6168+11.5%

Summary: The 70006 real estate market had 68 homes for sale in April 2024, a 11.5% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 57
+40.0%
2 84
-50.0%
3 2631
+19.2%
4 1417
+21.4%
5+ 89
+12.5%

Summary: The 70006 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 19.2%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
119-18.2%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 70006, you may be able to get a good deal. 77.8% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in 70006 in April 2024, down by 18.2% month-over-month. Of the 9 sold homes, 78% were sold under asking, 11% were sold at asking, and 11% were sold over asking.

Days on Market for 70006, LA

How long does it take to sell a home in 70006, LA?

Average Sale Time

Apr 2023Apr 2024CHANGE
37 Days65 Days+75.3%

Summary: Homes in 70006 had an average of 65 days on market in Apr 2024, up by 75.3% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 70006 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 9 homes were sold in 70006; 44% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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