Is 70124, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 70124 was a Seller's Market.
Key Takeaway
70124 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 70124, LA
How much do homes in 70124, LA cost?
Median Sold Price
$539,416
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 70124 have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in 70124 was $539,416 in April 2024, up 2.7% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $154K | -12.0% |
| 2 Bedrooms | $377K | $381.5K | +1.2% |
| 3 Bedrooms | $499K | $467.5K | -6.3% |
| 4 Bedrooms | $659.5K | $681.2K | +3.3% |
| 5+ Bedrooms | $679.5K | $725K | +6.7% |
Summary: 70124 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12%, 2 bedroom homes increased by 1.2%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 6.7%.
Housing Supply in 70124, LA
How many homes are available in 70124, LA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 235 | 263 | +11.9% |
Summary: The 70124 real estate market had 263 homes for sale in April 2024, a 11.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 11 | +22.2% |
| 2 Bedrooms | 23 | 25 | +8.7% |
| 3 Bedrooms | 70 | 82 | +17.1% |
| 4 Bedrooms | 69 | 73 | +5.8% |
| 5+ Bedrooms | 64 | 72 | +12.5% |
Summary: The 70124 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 22.2%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 27 | 29 | +7.4% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 70124, you may be able to get a good deal. 58.6% of homes here sold below asking price last month.
Summary: A total of 29 homes were sold or pending in 70124 in April 2024, up by 7.4% month-over-month. Of the 29 sold homes, 59% were sold under asking, 24% were sold at asking, and 17% were sold over asking.
Days on Market for 70124, LA
How long does it take to sell a home in 70124, LA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 46 Days | 54 Days | +18.1% |
Summary: Homes in 70124 had an average of 54 days on market in Apr 2024, up by 18.1% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 70124 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 29 homes were sold in 70124; 55% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
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