Is 70131, 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, 70131 was a Seller's Market.
Key Takeaway
70131 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 70131, LA
How much do homes in 70131, LA cost?
Median Sold Price
$235,000
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 70131 have sold for 11.3% less than they did a year ago.
Summary: The median home sold price in 70131 was $235,000 in March 2024, down 11.3% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $65K | - | N/A |
| 2 Bedrooms | $100K | $135K | +35.0% |
| 3 Bedrooms | $207.5K | $187.9K | -9.4% |
| 4 Bedrooms | $290K | $270K | -6.9% |
| 5+ Bedrooms | $372K | $385K | +3.5% |
Summary: 70131 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 35%, 3 bedroom homes decreased by 9.4%, 4 bedroom homes decreased by 6.9%, and 5+ bedroom homes increased by 3.5%.
Housing Supply in 70131, LA
How many homes are available in 70131, LA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 128 | 138 | +7.8% |
Summary: The 70131 real estate market had 138 homes for sale in March 2024, a 7.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 11 | +22.2% |
| 3 Bedrooms | 40 | 42 | +5.0% |
| 4 Bedrooms | 58 | 59 | +1.7% |
| 5+ Bedrooms | 20 | 25 | +25.0% |
Summary: The 70131 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 22.2%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 13 | +18.2% |
Asking Price vs. Sold Price
10 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 70131, you may be able to get a good deal. 76.9% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in 70131 in March 2024, up by 18.2% month-over-month. Of the 13 sold homes, 77% were sold under asking, 15% were sold at asking, and 8% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 82 Days | 71 Days | -14.0% |
Summary: Homes in 70131 had an average of 71 days on market in Mar 2024, down by 14% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 70131 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 13 homes were sold in 70131; 46% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.
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