Is 70062, 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, 70062 has remained a Seller's Market.
Key Takeaway
70062 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 70062, LA
How much do homes in 70062, LA cost?
Median Sold Price
$225,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 70062 have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in 70062 was $225,000 in May 2024, up 3.9% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $168K | - | N/A |
| 2 Bedrooms | $165.5K | $119.7K | -27.6% |
| 3 Bedrooms | $209K | $215K | +2.9% |
| 4 Bedrooms | $269.5K | $241K | -10.6% |
| 5+ Bedrooms | $295K | $351.2K | +19.1% |
Summary: 70062 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 decreased by 27.6%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 10.6%, and 5+ bedroom homes increased by 19.1%.
Housing Supply in 70062, LA
How many homes are available in 70062, LA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 31 | 41 | +32.3% |
Summary: The 70062 real estate market had 41 homes for sale in May 2024, a 32.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 18 | 19 | +5.6% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 4 | 10 | +150.0% |
Summary: The 70062 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 increased by 20%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 70062, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 70062 in May 2024, up by 14.3% month-over-month. Of the 8 sold homes, 63% were sold under asking, 38% were sold at asking, and 0% were sold over asking.
Days on Market for 70062, LA
How long does it take to sell a home in 70062, LA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 30 Days | 56 Days | +83.4% |
Summary: Homes in 70062 had an average of 56 days on market in May 2024, up by 83.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 70062 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in 70062; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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