Is 70116, 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, 70116 was a Seller's Market.
Housing Prices in 70116, LA
How much do homes in 70116, LA cost?
Median Sold Price
$375,000
$336/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 70116 was $375,000 in March 2024, down 6.3% from last year, and the median price per square foot was $336.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $324K | $307K | -5.2% |
2 Bedrooms | $450K | $426K | -5.3% |
3 Bedrooms | $395K | $377.5K | -4.4% |
4 Bedrooms | $430.2K | $380K | -11.7% |
5+ Bedrooms | $664.7K | $660K | -0.7% |
Summary: 70116 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.2%, 2 bedroom homes decreased by 5.3%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes decreased by 11.7%, and 5+ bedroom homes decreased by 0.7%.
Housing Supply in 70116, LA
How many homes are available in 70116, LA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
193 | 222 | +15.0% |
Summary: The 70116 real estate market had 222 homes for sale in March 2024, a 15.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 35 | 40 | +14.3% |
2 Bedrooms | 50 | 57 | +14.0% |
3 Bedrooms | 35 | 41 | +17.1% |
4 Bedrooms | 33 | 42 | +27.3% |
5+ Bedrooms | 40 | 42 | +5.0% |
Summary: The 70116 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 14%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 11 | +22.2% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in 70116 in March 2024, up by 22.2% month-over-month. Of the 11 sold homes, 64% were sold under asking, 9% were sold at asking, and 27% were sold over asking.
Days on Market for 70116, LA
How long does it take to sell a home in 70116, LA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
86 Days | 87 Days | +1.5% |
Summary: Homes in 70116 had an average of 87 days on market in Mar 2024, up by 1.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in 70116; 27% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 45% of homes were sold over 90 days.