$4,536 Closing Credit*
$382,000
2,804 SqFt
4 Beds
•2 Full Baths, 1 Partial
Louis Williams, Listing Office: KELLER WILLIAMS REALTY 455-0100
Is 70131, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
At the same time last year, 70131 was a Seller's Market.
Key Takeaway
70131 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 70131, LA
How much do homes in 70131, LA cost?
Median Sold Price
$225,000
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
-$30,000(-11.8%)
Key Takeaway
Homes in 70131 have sold for 11.8% less than they did a year ago.
Summary: The median home sold price in 70131 was $225,000 in August 2024, down 11.8% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $135K | $93.5K | -30.7% |
| 3 Bedrooms | $190.4K | $177.5K | -6.8% |
| 4 Bedrooms | $280K | $276.6K | -1.2% |
| 5+ Bedrooms | $380K | $459.5K | +20.9% |
Summary: 70131 housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 30.7%, 3 bedroom homes decreased by 6.8%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes increased by 20.9%.
Housing Supply in 70131, LA
How many homes are available in 70131, LA?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 145 | 137 | -5.5% |
Summary: The 70131 real estate market had 137 homes for sale in August 2024, a 5.5% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 11 | 9 | -18.2% |
| 3 Bedrooms | 47 | 42 | -10.6% |
| 4 Bedrooms | 64 | 63 | -1.6% |
| 5+ Bedrooms | 23 | 23 | 0.0% |
Summary: The 70131 housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 18.2%, 3 bedroom homes decreased by 10.6%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 31 | 21 | -32.3% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 70131, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in 70131 in August 2024, down by 32.3% month-over-month. Of the 21 sold homes, 57% were sold under asking, 33% were sold at asking, and 10% were sold over asking.
Days on Market for 70131, LA
How long does it take to sell a home in 70131, LA?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 50 Days | 56 Days | +10.8% |
Summary: Homes in 70131 had an average of 56 days on market in Aug 2024, up by 10.8% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 70131 has remained consistent over time.
Summary: During August 2024, 21 homes were sold in 70131; 38% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
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