Is 70053, 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, 70053 was a Seller's Market.
Key Takeaway
70053 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 70053, LA
How much do homes in 70053, LA cost?
Median Sold Price
$189,000
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 70053 have sold for 14.1% less than they did a year ago.
Summary: The median home sold price in 70053 was $189,000 in March 2024, down 14.1% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $400.8K | - | N/A |
| 2 Bedrooms | $183.5K | $170K | -7.4% |
| 3 Bedrooms | $250K | $198K | -20.8% |
| 4 Bedrooms | $230.5K | $295K | +28.0% |
| 5+ Bedrooms | $324.8K | $186.2K | -42.7% |
Summary: 70053 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7.4%, 3 bedroom homes decreased by 20.8%, 4 bedroom homes increased by 28%, and 5+ bedroom homes decreased by 42.7%.
Housing Supply in 70053, LA
How many homes are available in 70053, LA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 55 | 54 | -1.8% |
Summary: The 70053 real estate market had 54 homes for sale in March 2024, a 1.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 13 | 13 | 0.0% |
| 3 Bedrooms | 24 | 24 | 0.0% |
| 4 Bedrooms | 13 | 12 | -7.7% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 70053 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 6 | -33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 70053, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 70053 in March 2024, down by 33.3% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for 70053, LA
How long does it take to sell a home in 70053, LA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 46 Days | 35 Days | -24.6% |
Summary: Homes in 70053 had an average of 35 days on market in Mar 2024, down by 24.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 70053 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in 70053; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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