Is 70119, 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, 70119 was a Seller's Market.
Key Takeaway
70119 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 70119, LA
How much do homes in 70119, LA cost?
Median Sold Price
$370,000
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 70119 have sold for 4.6% less than they did a year ago.
Summary: The median home sold price in 70119 was $370,000 in March 2024, down 4.6% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $312.5K | $245K | -21.6% |
| 2 Bedrooms | $320K | $285K | -10.9% |
| 3 Bedrooms | $389K | $375K | -3.6% |
| 4 Bedrooms | $408K | $394.5K | -3.3% |
| 5+ Bedrooms | $496K | $450K | -9.3% |
Summary: 70119 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 21.6%, 2 bedroom homes decreased by 10.9%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes decreased by 9.3%.
Housing Supply in 70119, LA
How many homes are available in 70119, LA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 181 | 220 | +21.5% |
Summary: The 70119 real estate market had 220 homes for sale in March 2024, a 21.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 7 | +16.7% |
| 2 Bedrooms | 27 | 38 | +40.7% |
| 3 Bedrooms | 59 | 61 | +3.4% |
| 4 Bedrooms | 40 | 53 | +32.5% |
| 5+ Bedrooms | 49 | 61 | +24.5% |
Summary: The 70119 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 40.7%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 32.5%, and 5+ bedroom homes increased by 24.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 21 | +50.0% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 70119, you may be able to get a good deal. 81% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in 70119 in March 2024, up by 50.0% month-over-month. Of the 21 sold homes, 81% were sold under asking, 14% were sold at asking, and 5% were sold over asking.
Days on Market for 70119, LA
How long does it take to sell a home in 70119, LA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 49 Days | 66 Days | +35.1% |
Summary: Homes in 70119 had an average of 66 days on market in Mar 2024, up by 35.1% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 70119 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 21 homes were sold in 70119; 43% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
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