Is 70118, 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, 70118 was a Seller's Market.
Key Takeaway
70118 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 70118, LA
How much do homes in 70118, LA cost?
Median Sold Price
$415,500
$246/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 70118 have sold for 8.7% less than they did a year ago.
Summary: The median home sold price in 70118 was $415,500 in March 2024, down 8.7% from last year, and the median price per square foot was $246.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165K | $190K | +15.2% |
| 2 Bedrooms | $341K | $362.7K | +6.4% |
| 3 Bedrooms | $475K | $491K | +3.4% |
| 4 Bedrooms | $528.3K | $412.5K | -21.9% |
| 5+ Bedrooms | $735.1K | $612.5K | -16.7% |
Summary: 70118 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.2%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 3.4%, 4 bedroom homes decreased by 21.9%, and 5+ bedroom homes decreased by 16.7%.
Housing Supply in 70118, LA
How many homes are available in 70118, LA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 191 | 215 | +12.6% |
Summary: The 70118 real estate market had 215 homes for sale in March 2024, a 12.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 30 | 33 | +10.0% |
| 3 Bedrooms | 54 | 66 | +22.2% |
| 4 Bedrooms | 54 | 58 | +7.4% |
| 5+ Bedrooms | 51 | 54 | +5.9% |
Summary: The 70118 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 increased by 10%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 5.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20 | 20 | 0.0% |
Asking Price vs. Sold Price
17 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 70118, you may be able to get a good deal. 85% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 70118 in March 2024, the same as the previous month. Of the 20 sold homes, 85% were sold under asking, 10% were sold at asking, and 5% were sold over asking.
Days on Market for 70118, LA
How long does it take to sell a home in 70118, LA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 71 Days | 54 Days | -24.0% |
Summary: Homes in 70118 had an average of 54 days on market in Mar 2024, down by 24% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 70118 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 20 homes were sold in 70118; 40% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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