Is 70461, 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, 70461 was a Seller's Market.
Key Takeaway
70461 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 70461, LA
How much do homes in 70461, LA cost?
Median Sold Price
$285,000
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 70461 have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in 70461 was $285,000 in March 2024, up 1.7% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $67K | $24.9K | -62.8% |
| 2 Bedrooms | $170K | $158K | -7.1% |
| 3 Bedrooms | $230K | $229.5K | -0.2% |
| 4 Bedrooms | $320K | $315K | -1.6% |
| 5+ Bedrooms | $370K | $424.5K | +14.7% |
Summary: 70461 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 62.8%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes increased by 14.7%.
Housing Supply in 70461, LA
How many homes are available in 70461, LA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 149 | 172 | +15.4% |
Summary: The 70461 real estate market had 172 homes for sale in March 2024, a 15.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 43 | 50 | +16.3% |
| 4 Bedrooms | 86 | 98 | +14.0% |
| 5+ Bedrooms | 15 | 17 | +13.3% |
Summary: The 70461 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 40%, 3 bedroom homes increased by 16.3%, 4 bedroom homes increased by 14%, and 5+ bedroom homes increased by 13.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 22 | +22.2% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 70461, you may be able to get a good deal. 63.6% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in 70461 in March 2024, up by 22.2% month-over-month. Of the 22 sold homes, 64% were sold under asking, 23% were sold at asking, and 14% were sold over asking.
Days on Market for 70461, LA
How long does it take to sell a home in 70461, LA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 43 Days | 77 Days | +78.9% |
Summary: Homes in 70461 had an average of 77 days on market in Mar 2024, up by 78.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 70461 has remained consistent over time.
Summary: During March 2024, 22 homes were sold in 70461; 18% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 32% of homes were sold over 90 days.
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