Is 71107, 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, 71107 has remained a Seller's Market.
Key Takeaway
71107 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 71107, LA
How much do homes in 71107, LA cost?
Median Sold Price
$225,000
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 71107 have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in 71107 was $225,000 in March 2024, up 7.7% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $107.7K | $89K | -17.4% |
| 3 Bedrooms | $185K | $205K | +10.8% |
| 4 Bedrooms | $283.1K | $285.5K | +0.9% |
| 5+ Bedrooms | $296K | $335.6K | +13.4% |
Summary: 71107 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 decreased by 17.4%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes increased by 13.4%.
Housing Supply in 71107, LA
How many homes are available in 71107, LA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 85 | 94 | +10.6% |
Summary: The 71107 real estate market had 94 homes for sale in March 2024, a 10.6% 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 | 8 | 6 | -25.0% |
| 3 Bedrooms | 55 | 65 | +18.2% |
| 4 Bedrooms | 18 | 20 | +11.1% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 71107 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 decreased by 25%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 20 | +81.8% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 71107, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 71107 in March 2024, up by 81.8% month-over-month. Of the 20 sold homes, 70% were sold under asking, 15% were sold at asking, and 15% were sold over asking.
Days on Market for 71107, LA
How long does it take to sell a home in 71107, LA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 43 Days | 53 Days | +22.6% |
Summary: Homes in 71107 had an average of 53 days on market in Mar 2024, up by 22.6% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 71107 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 20 homes were sold in 71107; 50% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
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