Is Wallace Lake, 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, Wallace Lake has remained a Buyer's Market.
Key Takeaway
Wallace Lake is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Wallace Lake, LA
How much do homes in Wallace Lake, LA cost?
Median Sold Price
$381,950
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Wallace Lake have sold for 2.1% less than they did a year ago.
Summary: The median home sold price in Wallace Lake was $381,950 in April 2024, down 2.1% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $339.7K | $339.2K | -0.1% |
| 3 Bedrooms | $320K | $360.7K | +12.7% |
| 4 Bedrooms | $430K | $394.2K | -8.3% |
| 5+ Bedrooms | $532.5K | $845K | +58.7% |
Summary: Wallace Lake 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 decreased by 0.1%, 3 bedroom homes increased by 12.7%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 58.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Wallace Lake Heights | $274.5K | $291.4K | +6.2% |
| Wallace Lake | $390K | $381.9K | -2.1% |
| Huckleberry Ridge | $399.4K | $358K | -10.4% |
Housing Supply in Wallace Lake, LA
How many homes are available in Wallace Lake, LA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 60 | 72 | +20.0% |
Summary: The Wallace Lake real estate market had 72 homes for sale in April 2024, a 20.0% 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 | 3 | 2 | -33.3% |
| 3 Bedrooms | 19 | 29 | +52.6% |
| 4 Bedrooms | 28 | 30 | +7.1% |
| 5+ Bedrooms | 10 | 11 | +10.0% |
Summary: The Wallace Lake 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 decreased by 33.3%, 3 bedroom homes increased by 52.6%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 9 | -25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Wallace Lake, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Wallace Lake in April 2024, down by 25.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 44% were sold at asking, and 11% were sold over asking.
Days on Market for Wallace Lake, LA
How long does it take to sell a home in Wallace Lake, LA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 24 Days | 54 Days | +125.0% |
Summary: Homes in Wallace Lake had an average of 54 days on market in Apr 2024, up by 125% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wallace Lake are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 9 homes were sold in Wallace Lake; 56% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
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