Is 71112, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 71112 has remained a Seller's Market.
Key Takeaway
71112 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 71112, LA
How much do homes in 71112, LA cost?
Median Sold Price
$194,000
$131/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in 71112 has remained the same since last year.
Summary: The median home sold price in 71112 was $194,000 in April 2024, up 0.5% from last year, and the median price per square foot was $131.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $129.9K | +18.1% |
| 2 Bedrooms | $99.9K | $104.9K | +5.0% |
| 3 Bedrooms | $185.6K | $195K | +5.0% |
| 4 Bedrooms | $260.5K | $230K | -11.7% |
| 5+ Bedrooms | $201.5K | $408.9K | +103.0% |
Summary: 71112 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.1%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 5%, 4 bedroom homes decreased by 11.7%, and 5+ bedroom homes increased by 103%.
Housing Supply in 71112, LA
How many homes are available in 71112, LA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 114 | 118 | +3.5% |
Summary: The 71112 real estate market had 118 homes for sale in April 2024, a 3.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 10 | 14 | +40.0% |
| 3 Bedrooms | 66 | 66 | 0.0% |
| 4 Bedrooms | 34 | 32 | -5.9% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 71112 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 40%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 29 | 37 | +27.6% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 71112, you may be able to get a good deal. 51.4% of homes here sold below asking price last month.
Summary: A total of 37 homes were sold or pending in 71112 in April 2024, up by 27.6% month-over-month. Of the 37 sold homes, 51% were sold under asking, 32% were sold at asking, and 16% were sold over asking.
Days on Market for 71112, LA
How long does it take to sell a home in 71112, LA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 33 Days | +60.0% |
Summary: Homes in 71112 had an average of 33 days on market in Apr 2024, up by 60% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 71112 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 37 homes were sold in 71112; 62% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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