Is Central City, 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, Central City was a Seller's Market.
Housing Prices in Central City, LA
How much do homes in Central City, LA cost?
Median Sold Price
$302,500
$238/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Central City was $302,500 in April 2024, down 5.2% from last year, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $193K | $219.9K | +14.0% |
2 Bedrooms | $323.4K | $415K | +28.3% |
3 Bedrooms | $335K | $299K | -10.7% |
4 Bedrooms | $360K | $318.5K | -11.5% |
5+ Bedrooms | $432.5K | $545K | +26.0% |
Summary: Central City housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14%, 2 bedroom homes increased by 28.3%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes decreased by 11.5%, and 5+ bedroom homes increased by 26%.
Median Sold Price Compared To Nearby Neighborhoods
Garden District | $607.5K | $899K | +48.0% |
Central Business District | $465K | $485K | +4.3% |
Lower Garden District | $375K | $377K | 0.5% |
Milan | $403K | $400K | -0.7% |
Central City | $319K | $302.5K | -5.2% |
Housing Supply in Central City, LA
How many homes are available in Central City, LA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
66 | 67 | +1.5% |
Summary: The Central City real estate market had 67 homes for sale in April 2024, a 1.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 12 | 0.0% |
2 Bedrooms | 15 | 15 | 0.0% |
3 Bedrooms | 17 | 19 | +11.8% |
4 Bedrooms | 10 | 10 | 0.0% |
5+ Bedrooms | 12 | 11 | -8.3% |
Summary: The Central City 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 increased by 11.8%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 8.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 3 | -75.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Central City in April 2024, down by 75.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for Central City, LA
How long does it take to sell a home in Central City, LA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
29 Days | 45 Days | +53.0% |
Summary: Homes in Central City had an average of 45 days on market in Apr 2024, up by 53% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 3 homes were sold in Central City; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.