Is 70508, 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, 70508 has remained a Seller's Market.
Housing Prices in 70508, LA
How much do homes in 70508, LA cost?
Median Sold Price
$269,163
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 70508 was $269,163 in April 2024, down 5.6% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $94.5K | $167.5K | +77.2% |
2 Bedrooms | $167K | $205K | +22.8% |
3 Bedrooms | $257.8K | $244.8K | -5.0% |
4 Bedrooms | $394.5K | $400K | +1.4% |
5+ Bedrooms | $835K | $660K | -21.0% |
Summary: 70508 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 77.2%, 2 bedroom homes increased by 22.8%, 3 bedroom homes decreased by 5%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes decreased by 21%.
Median Sold Price Compared To Nearby Zip Codes
70501 | $161K | $167.6K | +4.2% |
70503 | $293K | $289.7K | -1.1% |
70592 | $289.7K | $279.2K | -3.6% |
70508 | $285K | $269.1K | -5.6% |
Housing Supply in 70508, LA
How many homes are available in 70508, LA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
255 | 249 | -2.4% |
Summary: The 70508 real estate market had 249 homes for sale in April 2024, a 2.4% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 27 | 30 | +11.1% |
3 Bedrooms | 116 | 116 | 0.0% |
4 Bedrooms | 86 | 79 | -8.1% |
5+ Bedrooms | 24 | 23 | -4.2% |
Summary: The 70508 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 11.1%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 8.1%, and 5+ bedroom homes decreased by 4.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
43 | 58 | +34.9% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 58 homes were sold or pending in 70508 in April 2024, up by 34.9% month-over-month. Of the 58 sold homes, 53% were sold under asking, 43% were sold at asking, and 3% were sold over asking.
Days on Market for 70508, LA
How long does it take to sell a home in 70508, LA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
69 Days | 56 Days | -18.3% |
Summary: Homes in 70508 had an average of 56 days on market in Apr 2024, down by 18.3% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During April 2024, 58 homes were sold in 70508; 57% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.