Is Arabi, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Arabi was a Neutral Market.
Housing Prices in Arabi, LA
How much do homes in Arabi, LA cost?
Median Sold Price
$300,000
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Arabi was $300,000 in March 2024, up 0.7% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $185K | $175K | -5.4% |
3 Bedrooms | $292.7K | $283.5K | -3.2% |
4 Bedrooms | $389K | $357.5K | -8.1% |
5+ Bedrooms | $399K | $379.9K | -4.8% |
Summary: Arabi 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 5.4%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes decreased by 8.1%, and 5+ bedroom homes decreased by 4.8%.
Median Sold Price Compared To Nearby Cities
Arabi | $298K | $300K | +0.7% |
Chalmette | $241K | $239K | -0.8% |
New Orleans | $340.5K | $329.1K | -3.3% |
Housing Supply in Arabi, LA
How many homes are available in Arabi, LA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
40 | 50 | +25.0% |
Summary: The Arabi real estate market had 50 homes for sale in March 2024, a 25.0% 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 | 3 | 3 | 0.0% |
3 Bedrooms | 25 | 29 | +16.0% |
4 Bedrooms | 10 | 14 | +40.0% |
5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Arabi 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 remained the same, 3 bedroom homes increased by 16%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
7 | 7 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Arabi in March 2024, the same as the previous month. Of the 7 sold homes, 29% were sold under asking, 43% were sold at asking, and 29% were sold over asking.
Days on Market for Arabi, LA
How long does it take to sell a home in Arabi, LA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
52 Days | 30 Days | -41.1% |
Summary: Homes in Arabi had an average of 30 days on market in Mar 2024, down by 41.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 7 homes were sold in Arabi; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.