Is 70420, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 70420 has remained a Seller's Market.
Key Takeaway
70420 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 70420, LA
How much do homes in 70420, LA cost?
Median Sold Price
$299,900
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 70420 have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in 70420 was $299,900 in March 2024, up 4.9% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $77K | $165K | +114.3% |
| 2 Bedrooms | $205.5K | $198K | -3.6% |
| 3 Bedrooms | $275K | $295K | +7.3% |
| 4 Bedrooms | $400K | $450K | +12.5% |
| 5+ Bedrooms | $949K | $500K | -47.3% |
Summary: 70420 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 114.3%, 2 bedroom homes decreased by 3.6%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 47.3%.
Housing Supply in 70420, LA
How many homes are available in 70420, LA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 28 | 34 | +21.4% |
Summary: The 70420 real estate market had 34 homes for sale in March 2024, a 21.4% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 14 | 16 | +14.3% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The 70420 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 remained the same, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 8 | +300.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 70420, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 70420 in March 2024, up by 300.0% month-over-month. Of the 8 sold homes, 63% were sold under asking, 13% were sold at asking, and 25% were sold over asking.
Days on Market for 70420, LA
How long does it take to sell a home in 70420, LA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 53 Days | 62 Days | +17.6% |
Summary: Homes in 70420 had an average of 62 days on market in Mar 2024, up by 17.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 70420 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in 70420; 38% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 38% 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.