Is 70005, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, 70005 was a Seller's Market.
Key Takeaway
70005 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 70005, LA
How much do homes in 70005, LA cost?
Median Sold Price
$398,200
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 70005 have sold for 2.8% less than they did a year ago.
Summary: The median home sold price in 70005 was $398,200 in May 2024, down 2.8% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $118K | $115.7K | -1.9% |
| 2 Bedrooms | $262.6K | $248.5K | -5.4% |
| 3 Bedrooms | $397K | $370K | -6.8% |
| 4 Bedrooms | $699.9K | $750K | +7.1% |
| 5+ Bedrooms | $1.1M | $1.1M | -2.9% |
Summary: 70005 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.9%, 2 bedroom homes decreased by 5.4%, 3 bedroom homes decreased by 6.8%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 2.9%.
Housing Supply in 70005, LA
How many homes are available in 70005, LA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 155 | 167 | +7.7% |
Summary: The 70005 real estate market had 167 homes for sale in May 2024, a 7.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 11 | +22.2% |
| 2 Bedrooms | 15 | 18 | +20.0% |
| 3 Bedrooms | 67 | 63 | -6.0% |
| 4 Bedrooms | 39 | 42 | +7.7% |
| 5+ Bedrooms | 25 | 33 | +32.0% |
Summary: The 70005 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 22.2%, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 6%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 32%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 29 | 22 | -24.1% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 70005, you may be able to get a good deal. 63.6% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in 70005 in May 2024, down by 24.1% month-over-month. Of the 22 sold homes, 64% were sold under asking, 32% were sold at asking, and 5% were sold over asking.
Days on Market for 70005, LA
How long does it take to sell a home in 70005, LA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 52 Days | 59 Days | +12.4% |
Summary: Homes in 70005 had an average of 59 days on market in May 2024, up by 12.4% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 70005 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in 70005; 59% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
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