Is 70506, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 70506 has remained a Seller's Market.
Housing Prices in 70506, LA
How much do homes in 70506, LA cost?
Median Sold Price
$204,000
$129/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in 70506 was $204,000 in May 2024, down 7.3% from last year, and the median price per square foot was $129.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $91.5K | $100K | +9.3% |
2 Bedrooms | $126.2K | $128K | +1.4% |
3 Bedrooms | $227.5K | $210K | -7.7% |
4 Bedrooms | $267.5K | $285.9K | +6.9% |
5+ Bedrooms | $309K | $495.9K | +60.5% |
Summary: 70506 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.3%, 2 bedroom homes increased by 1.4%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 60.5%.
Median Sold Price Compared To Nearby Zip Codes
70501 | $163.7K | $165K | +0.8% |
70529 | $218K | $214K | -1.8% |
70503 | $291K | $282.5K | -2.9% |
70583 | $242.5K | $235K | -3.1% |
70506 | $220K | $204K | -7.3% |
Housing Supply in 70506, LA
How many homes are available in 70506, LA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
189 | 194 | +2.6% |
Summary: The 70506 real estate market had 194 homes for sale in May 2024, a 2.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 38 | 45 | +18.4% |
3 Bedrooms | 94 | 94 | 0.0% |
4 Bedrooms | 51 | 47 | -7.8% |
5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 70506 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 18.4%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 7.8%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
34 | 43 | +26.5% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 43 homes were sold or pending in 70506 in May 2024, up by 26.5% month-over-month. Of the 43 sold homes, 60% were sold under asking, 26% were sold at asking, and 14% were sold over asking.
Days on Market for 70506, LA
How long does it take to sell a home in 70506, LA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
53 Days | 68 Days | +28.6% |
Summary: Homes in 70506 had an average of 68 days on market in May 2024, up by 28.6% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Summary: During May 2024, 43 homes were sold in 70506; 37% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.