Is Southern Hills, 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, Southern Hills has remained a Seller's Market.
Key Takeaway
Southern Hills is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southern Hills, LA
How much do homes in Southern Hills, LA cost?
Median Sold Price
$200,000
$107/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Southern Hills have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in Southern Hills was $200,000 in April 2024, up 2.3% from last year, and the median price per square foot was $107.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $15K | N/A |
| 3 Bedrooms | $178.8K | $185.8K | +3.9% |
| 4 Bedrooms | $228.5K | $244K | +6.8% |
| 5+ Bedrooms | $267K | $318.6K | +19.3% |
Summary: Southern Hills housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 19.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Southern Hills | $195.4K | $200K | +2.3% |
| Summer Grove | $159.6K | $160K | 0.3% |
| Brookwood | $135K | $131K | -3.0% |
| Hyde Park | $124.5K | $103K | -17.3% |
Housing Supply in Southern Hills, LA
How many homes are available in Southern Hills, LA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 42 | 49 | +16.7% |
Summary: The Southern Hills real estate market had 49 homes for sale in April 2024, a 16.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 27 | 32 | +18.5% |
| 4 Bedrooms | 13 | 15 | +15.4% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Southern Hills 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 18.5%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 14 | +75.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southern Hills, you may be able to get a good deal. 35.7% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Southern Hills in April 2024, up by 75.0% month-over-month. Of the 14 sold homes, 36% were sold under asking, 36% were sold at asking, and 29% were sold over asking.
Days on Market for Southern Hills, LA
How long does it take to sell a home in Southern Hills, LA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 22 Days | 100 Days | +350.7% |
Summary: Homes in Southern Hills had an average of 100 days on market in Apr 2024, up by 350.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Southern Hills are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 14 homes were sold in Southern Hills; 29% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
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