Is 70503, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, 70503 was a Seller's Market.
Key Takeaway
70503 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 70503, LA
How much do homes in 70503, LA cost?
Median Sold Price
$282,500
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 70503 have sold for 2.9% less than they did a year ago.
Summary: The median home sold price in 70503 was $282,500 in May 2024, down 2.9% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $76K | $85K | +11.8% |
| 2 Bedrooms | $138K | $146.5K | +6.2% |
| 3 Bedrooms | $257.7K | $232K | -10.0% |
| 4 Bedrooms | $390K | $388K | -0.5% |
| 5+ Bedrooms | $675K | $755K | +11.9% |
Summary: 70503 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.8%, 2 bedroom homes increased by 6.2%, 3 bedroom homes decreased by 10%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes increased by 11.9%.
Median Sold Price Compared To Nearby Zip Codes
| 70501 | $163.7K | $165K | +0.8% |
| 70503 | $291K | $282.5K | -2.9% |
| 70555 | $254.9K | $243K | -4.7% |
| 70506 | $220K | $204K | -7.3% |
| 70508 | $288.1K | $266.9K | -7.4% |
Housing Supply in 70503, LA
How many homes are available in 70503, LA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 188 | 193 | +2.7% |
Summary: The 70503 real estate market had 193 homes for sale in May 2024, a 2.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 9 | +28.6% |
| 2 Bedrooms | 19 | 18 | -5.3% |
| 3 Bedrooms | 75 | 78 | +4.0% |
| 4 Bedrooms | 69 | 70 | +1.4% |
| 5+ Bedrooms | 18 | 18 | 0.0% |
Summary: The 70503 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes decreased by 5.3%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 35 | 29 | -17.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 70503, expect to pay close to the asking price. 41.4% of homes here sold near the asking price last month.
Summary: A total of 29 homes were sold or pending in 70503 in May 2024, down by 17.1% month-over-month. Of the 29 sold homes, 38% were sold under asking, 41% were sold at asking, and 21% were sold over asking.
Days on Market for 70503, LA
How long does it take to sell a home in 70503, LA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 59 Days | 48 Days | -19.3% |
Summary: Homes in 70503 had an average of 48 days on market in May 2024, down by 19.3% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 70503 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 29 homes were sold in 70503; 69% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the IDX Program of the REALTORS® Association of Acadiana’s MLS. Real Estate listings held by other brokerage firms are marked with the MLS approved icon for IDX. The materials contained within this page may not be reproduced without the express written consent of The Realtor® Association of Acadiana. The information contained within this page is for personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but is not guaranteed and should be verified by personal inspection or with the appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. The materials contained within this page may not be reproduced without the express written consent of this broker. Some real estate firms do not participate in Internet Data Exchange® and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Some or all of the listings displayed may not belong to the firm whose web site is being visited. 
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.