Is 70501, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 70501 has remained a Seller's Market.
Housing Prices in 70501, LA
How much do homes in 70501, LA cost?
Median Sold Price
$167,687
$113/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 70501 was $167,687 in April 2024, up 4.2% from last year, and the median price per square foot was $113.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $37.7K | $71.2K | +88.7% |
2 Bedrooms | $112K | $115K | +2.7% |
3 Bedrooms | $155K | $161.5K | +4.2% |
4 Bedrooms | $242.5K | $261K | +7.6% |
5+ Bedrooms | $293.7K | $262.2K | -10.7% |
Summary: 70501 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 88.7%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes decreased by 10.7%.
Median Sold Price Compared To Nearby Zip Codes
70501 | $161K | $167.6K | +4.2% |
70503 | $293K | $289.7K | -1.1% |
70507 | $222K | $215K | -3.2% |
70508 | $285K | $269.1K | -5.6% |
70506 | $220K | $201.2K | -8.5% |
Housing Supply in 70501, LA
How many homes are available in 70501, LA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
109 | 109 | 0.0% |
Summary: The 70501 real estate market had 109 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 0 | -100.0% |
2 Bedrooms | 21 | 20 | -4.8% |
3 Bedrooms | 53 | 53 | 0.0% |
4 Bedrooms | 31 | 31 | 0.0% |
5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The 70501 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
19 | 23 | +21.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in 70501 in April 2024, up by 21.1% month-over-month. Of the 23 sold homes, 35% were sold under asking, 48% were sold at asking, and 17% were sold over asking.
Days on Market for 70501, LA
How long does it take to sell a home in 70501, LA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
62 Days | 114 Days | +85.0% |
Summary: Homes in 70501 had an average of 114 days on market in Apr 2024, up by 85% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During April 2024, 23 homes were sold in 70501; 30% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 61% of homes were sold over 90 days.