Is 71075, 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, 71075 was a Seller's Market.
Key Takeaway
71075 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 71075, LA
How much do homes in 71075, LA cost?
Median Sold Price
$95,900
$68/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 71075 have sold for 12.7% less than they did a year ago.
Summary: The median home sold price in 71075 was $95,900 in April 2024, down 12.7% from last year, and the median price per square foot was $68.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $20K | - | N/A |
| 2 Bedrooms | $95K | $35K | -63.2% |
| 3 Bedrooms | $121.2K | $110K | -9.3% |
| 4 Bedrooms | $197.2K | $167.5K | -15.1% |
| 5+ Bedrooms | $265K | - | N/A |
Summary: 71075 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 63.2%, 3 bedroom homes decreased by 9.3%, 4 bedroom homes decreased by 15.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 71071 | $114K | $114.6K | 0.5% |
| 71075 | $109.9K | $95.9K | -12.7% |
Housing Supply in 71075, LA
How many homes are available in 71075, LA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 16 | -5.9% |
Summary: The 71075 real estate market had 16 homes for sale in April 2024, a 5.9% decrease 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 | 3 | 3 | 0.0% |
| 3 Bedrooms | 11 | 9 | -18.2% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 71075 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 decreased by 18.2%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 1 | -80.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 71075, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in 71075 in April 2024, down by 80.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 71075, LA
How long does it take to sell a home in 71075, LA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 73 Days | 45 Days | -38.5% |
Summary: Homes in 71075 had an average of 45 days on market in Apr 2024, down by 38.5% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 71075 has remained consistent over time.
Summary: During April 2024, 1 homes were sold in 71075; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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