Is 70062, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 70062 has remained a Seller's Market.
Key Takeaway
70062 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 70062, LA
How much do homes in 70062, LA cost?
Median Sold Price
$215,000
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in 70062 has remained the same since last year.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $151.5K | - | N/A |
| 2 Bedrooms | $160K | $122K | -23.8% |
| 3 Bedrooms | $207.5K | $213.7K | +3.0% |
| 4 Bedrooms | $315K | $242K | -23.2% |
| 5+ Bedrooms | $295K | $412.5K | +39.8% |
Summary: 70062 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 23.8%, 3 bedroom homes increased by 3%, 4 bedroom homes decreased by 23.2%, and 5+ bedroom homes increased by 39.8%.
Housing Supply in 70062, LA
How many homes are available in 70062, LA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 36 | 33 | -8.3% |
Summary: The 70062 real estate market had 33 homes for sale in April 2024, a 8.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 19 | 19 | 0.0% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 70062 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 6 | -25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 70062, 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 70062 in April 2024, down by 25.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.
Days on Market for 70062, LA
How long does it take to sell a home in 70062, LA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 47 Days | 79 Days | +68.1% |
Summary: Homes in 70062 had an average of 79 days on market in Apr 2024, up by 68.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 70062 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in 70062; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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