Is 70401, 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, 70401 was a Seller's Market.
Key Takeaway
70401 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 70401, LA
How much do homes in 70401, LA cost?
Median Sold Price
$224,750
$134/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 70401 have sold for 9.6% more than they did a year ago.
Summary: The median home sold price in 70401 was $224,750 in April 2024, up 9.6% from last year, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $82K | - | N/A |
| 2 Bedrooms | $128.7K | $129K | 0.2% |
| 3 Bedrooms | $205K | $210K | +2.4% |
| 4 Bedrooms | $256K | $281.5K | +10.0% |
| 5+ Bedrooms | $360K | $389K | +8.1% |
Summary: 70401 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.2%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 8.1%.
Median Sold Price Compared To Nearby Zip Codes
| 70401 | $205K | $224.7K | +9.6% |
| 70403 | $215K | $235K | +9.3% |
| 70455 | $214K | $204K | -4.7% |
Housing Supply in 70401, LA
How many homes are available in 70401, LA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 103 | 100 | -2.9% |
Summary: The 70401 real estate market had 100 homes for sale in April 2024, a 2.9% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 64 | 62 | -3.1% |
| 4 Bedrooms | 26 | 24 | -7.7% |
| 5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The 70401 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 24 | 13 | -45.8% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 70401, you may be able to get a good deal. 69.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in 70401 in April 2024, down by 45.8% month-over-month. Of the 13 sold homes, 69% were sold under asking, 15% were sold at asking, and 15% were sold over asking.
Days on Market for 70401, LA
How long does it take to sell a home in 70401, LA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 45 Days | 81 Days | +77.8% |
Summary: Homes in 70401 had an average of 81 days on market in Apr 2024, up by 77.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 70401 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 13 homes were sold in 70401; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
Disclaimer: Copyright © 2024, New Orleans Metropolitan Association of REALTORS©, Inc. All rights reserved. Information deemed reliable, but not verified or guaranteed. Users are responsible for checking the accuracy, completeness, currency, and status of all information. The sharing of MLS database, or any portion thereof, with any unauthorized third party is strictly prohibited. Information contained on this site is believed to be reliable; yet, users of this web site are responsible for checking the accuracy, completeness, currency, or suitability of all information. Neither the New Orleans Metropolitan Association of REALTORS©, Inc. nor the Gulf South Real Estate Information Network, Inc. makes any representation, guarantees, or warranties as to the accuracy, completeness, currency, or suitability of the information provided. They specifically disclaim any and all liability for all claims or damages that may result from providing information to be used on the web site, or the information which it contains, including any web sites maintained by third parties, which may be linked to this web site.