Is 70037, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 70037 has remained a Seller's Market.
Key Takeaway
70037 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 70037, LA
How much do homes in 70037, LA cost?
Median Sold Price
$368,502
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 70037 have sold for 1.7% less than they did a year ago.
Summary: The median home sold price in 70037 was $368,502 in May 2024, down 1.7% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $145K | $229.5K | +58.3% |
| 3 Bedrooms | $336.5K | $348.4K | +3.5% |
| 4 Bedrooms | $420.7K | $376.5K | -10.5% |
| 5+ Bedrooms | $585.4K | $500K | -14.6% |
Summary: 70037 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 58.3%, 3 bedroom homes increased by 3.5%, 4 bedroom homes decreased by 10.5%, and 5+ bedroom homes decreased by 14.6%.
Housing Supply in 70037, LA
How many homes are available in 70037, LA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 68 | 68 | 0.0% |
Summary: The 70037 real estate market had 68 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 22 | 23 | +4.5% |
| 4 Bedrooms | 35 | 37 | +5.7% |
| 5+ Bedrooms | 9 | 6 | -33.3% |
Summary: The 70037 housing inventory by bedroom type for May 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 4.5%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 17 | +70.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 70037, you may be able to get a good deal. 58.8% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in 70037 in May 2024, up by 70.0% month-over-month. Of the 17 sold homes, 59% were sold under asking, 41% were sold at asking, and 0% were sold over asking.
Days on Market for 70037, LA
How long does it take to sell a home in 70037, LA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 38 Days | 54 Days | +42.1% |
Summary: Homes in 70037 had an average of 54 days on market in May 2024, up by 42.1% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 70037 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 17 homes were sold in 70037; 53% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
Disclaimer: Copyright © 2024, New Orleans Metropolitan Association of REALTORS©, Inc. All rights reserved. Information deemed reliable, but not verified or guaranteed. Users are responsible for checking the accuracy, completeness, currency, and status of all information. The sharing of MLS database, or any portion thereof, with any unauthorized third party is strictly prohibited. Information contained on this site is believed to be reliable; yet, users of this web site are responsible for checking the accuracy, completeness, currency, or suitability of all information. Neither the New Orleans Metropolitan Association of REALTORS©, Inc. nor the Gulf South Real Estate Information Network, Inc. makes any representation, guarantees, or warranties as to the accuracy, completeness, currency, or suitability of the information provided. They specifically disclaim any and all liability for all claims or damages that may result from providing information to be used on the web site, or the information which it contains, including any web sites maintained by third parties, which may be linked to this web site.