Is 71037, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 71037 has remained a Seller's Market.
Key Takeaway
71037 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 71037, LA
How much do homes in 71037, LA cost?
Median Sold Price
$248,000
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 71037 have sold for 3.9% less than they did a year ago.
Summary: The median home sold price in 71037 was $248,000 in March 2024, down 3.9% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $87.5K | $157K | +79.4% |
| 3 Bedrooms | $229K | $225K | -1.7% |
| 4 Bedrooms | $323.5K | $341.9K | +5.7% |
| 5+ Bedrooms | $385.2K | $436K | +13.2% |
Summary: 71037 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 79.4%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 13.2%.
Median Sold Price Compared To Nearby Zip Codes
| 71112 | $190.3K | $189.2K | -0.6% |
| 71037 | $258K | $248K | -3.9% |
Housing Supply in 71037, LA
How many homes are available in 71037, LA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 85 | 87 | +2.4% |
Summary: The 71037 real estate market had 87 homes for sale in March 2024, a 2.4% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 40 | 45 | +12.5% |
| 4 Bedrooms | 39 | 37 | -5.1% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 71037 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 remained the same, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 5.1%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 15 | -21.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 71037, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.
Summary: A total of 15 homes were sold or pending in 71037 in March 2024, down by 21.1% month-over-month. Of the 15 sold homes, 40% were sold under asking, 60% were sold at asking, and 0% were sold over asking.
Days on Market for 71037, LA
How long does it take to sell a home in 71037, LA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 37 Days | 54 Days | +45.7% |
Summary: Homes in 71037 had an average of 54 days on market in Mar 2024, up by 45.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 71037 has remained consistent over time.
Summary: During March 2024, 15 homes were sold in 71037; 33% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
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