Is 71047, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 71047 was a Seller's Market.
Key Takeaway
71047 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 71047, LA
How much do homes in 71047, LA cost?
Median Sold Price
$241,250
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 71047 have sold for 9.4% less than they did a year ago.
Summary: The median home sold price in 71047 was $241,250 in April 2024, down 9.4% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $285K | $138.9K | -51.2% |
| 3 Bedrooms | $255K | $233.3K | -8.5% |
| 4 Bedrooms | $299.9K | $339K | +13.0% |
| 5+ Bedrooms | $440K | $725K | +64.8% |
Summary: 71047 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 51.2%, 3 bedroom homes decreased by 8.5%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 64.8%.
Housing Supply in 71047, LA
How many homes are available in 71047, LA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 26 | +13.0% |
Summary: The 71047 real estate market had 26 homes for sale in April 2024, a 13.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 13 | 16 | +23.1% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 71047 housing inventory by bedroom type for April 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 23.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 71047, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in 71047 in April 2024, down by 40.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for 71047, LA
How long does it take to sell a home in 71047, LA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 9 Days | 46 Days | +414.8% |
Summary: Homes in 71047 had an average of 46 days on market in Apr 2024, up by 414.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 71047 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in 71047; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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