Is 70122, 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, 70122 was a Seller's Market.
Key Takeaway
70122 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 70122, LA
How much do homes in 70122, LA cost?
Median Sold Price
$275,000
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 70122 have sold for 7% less than they did a year ago.
Summary: The median home sold price in 70122 was $275,000 in March 2024, down 7% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $239K | $190K | -20.5% |
| 2 Bedrooms | $199.5K | $170K | -14.8% |
| 3 Bedrooms | $312K | $287K | -8.0% |
| 4 Bedrooms | $335K | $299K | -10.7% |
| 5+ Bedrooms | $308K | $330K | +7.1% |
Summary: 70122 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.5%, 2 bedroom homes decreased by 14.8%, 3 bedroom homes decreased by 8%, 4 bedroom homes decreased by 10.7%, and 5+ bedroom homes increased by 7.1%.
Housing Supply in 70122, LA
How many homes are available in 70122, LA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 235 | 274 | +16.6% |
Summary: The 70122 real estate market had 274 homes for sale in March 2024, a 16.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 25 | 32 | +28.0% |
| 3 Bedrooms | 108 | 127 | +17.6% |
| 4 Bedrooms | 66 | 75 | +13.6% |
| 5+ Bedrooms | 36 | 40 | +11.1% |
Summary: The 70122 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 34 | +126.7% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 70122, you may be able to get a good deal. 67.6% of homes here sold below asking price last month.
Summary: A total of 34 homes were sold or pending in 70122 in March 2024, up by 126.7% month-over-month. Of the 34 sold homes, 68% were sold under asking, 18% were sold at asking, and 15% were sold over asking.
Days on Market for 70122, LA
How long does it take to sell a home in 70122, LA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 46 Days | 77 Days | +66.3% |
Summary: Homes in 70122 had an average of 77 days on market in Mar 2024, up by 66.3% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 70122 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 34 homes were sold in 70122; 29% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
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