Is Hammond, 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, Hammond has remained a Seller's Market.
Key Takeaway
Hammond is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hammond, LA
How much do homes in Hammond, LA cost?
Median Sold Price
$228,280
$136/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Hammond have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Hammond was $228,280 in March 2024, up 8.7% from last year, and the median price per square foot was $136.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $82K | N/A |
| 2 Bedrooms | $138.5K | $145K | +4.7% |
| 3 Bedrooms | $205K | $219K | +6.8% |
| 4 Bedrooms | $277.7K | $284K | +2.3% |
| 5+ Bedrooms | $325K | $290K | -10.8% |
Summary: Hammond 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 increased by 4.7%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes decreased by 10.8%.
Median Sold Price Compared To Nearby Cities
| Hammond | $210K | $228.2K | +8.7% |
| Ponchatoula | $249.9K | $242.5K | -2.9% |
Housing Supply in Hammond, LA
How many homes are available in Hammond, LA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 206 | 208 | +1.0% |
Summary: The Hammond real estate market had 208 homes for sale in March 2024, a 1.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 11 | 13 | +18.2% |
| 3 Bedrooms | 120 | 116 | -3.3% |
| 4 Bedrooms | 52 | 53 | +1.9% |
| 5+ Bedrooms | 22 | 25 | +13.6% |
Summary: The Hammond 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 increased by 18.2%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 13.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 36 | 43 | +19.4% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hammond, you may be able to get a good deal. 58.1% of homes here sold below asking price last month.
Summary: A total of 43 homes were sold or pending in Hammond in March 2024, up by 19.4% month-over-month. Of the 43 sold homes, 58% were sold under asking, 21% were sold at asking, and 21% were sold over asking.
Days on Market for Hammond, LA
How long does it take to sell a home in Hammond, LA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 57 Days | 86 Days | +50.0% |
Summary: Homes in Hammond had an average of 86 days on market in Mar 2024, up by 50% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
18 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hammond are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 43 homes were sold in Hammond; 42% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 42% of homes were sold over 90 days.
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