Is 71101, 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, 71101 was a Buyer's Market.
Key Takeaway
71101 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 71101, LA
How much do homes in 71101, LA cost?
Median Sold Price
$65,000
$35/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 71101 have sold for 1.5% less than they did a year ago.
Summary: The median home sold price in 71101 was $65,000 in April 2024, down 1.5% from last year, and the median price per square foot was $35.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $68.9K | $65K | -5.7% |
| 3 Bedrooms | $73.7K | $50K | -32.2% |
| 4 Bedrooms | $56K | $65K | +16.1% |
| 5+ Bedrooms | $112K | $45K | -59.8% |
Summary: 71101 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 5.7%, 3 bedroom homes decreased by 32.2%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes decreased by 59.8%.
Housing Supply in 71101, LA
How many homes are available in 71101, LA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 21 | +5.0% |
Summary: The 71101 real estate market had 21 homes for sale in April 2024, a 5.0% 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 | 4 | 5 | +25.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 71101 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 increased by 25%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 71101, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 71101 in April 2024, up by 300.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for 71101, LA
How long does it take to sell a home in 71101, LA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 33 Days | 176 Days | +426.9% |
Summary: Homes in 71101 had an average of 176 days on market in Apr 2024, up by 426.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 71101 has remained consistent over time.
Summary: During April 2024, 4 homes were sold in 71101; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
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