Is 70112, 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, 70112 was a Seller's Market.
Key Takeaway
70112 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 70112, LA
How much do homes in 70112, LA cost?
Median Sold Price
$274,000
$278/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 70112 have sold for 21.1% less than they did a year ago.
Summary: The median home sold price in 70112 was $274,000 in May 2024, down 21.1% from last year, and the median price per square foot was $278.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $331.9K | $220K | -33.7% |
| 2 Bedrooms | $366.9K | $335K | -8.7% |
| 3 Bedrooms | $457.5K | $434.5K | -5.0% |
| 4 Bedrooms | $432.5K | $242K | -44.0% |
| 5+ Bedrooms | $565K | $425K | -24.8% |
Summary: 70112 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 33.7%, 2 bedroom homes decreased by 8.7%, 3 bedroom homes decreased by 5%, 4 bedroom homes decreased by 44%, and 5+ bedroom homes decreased by 24.8%.
Housing Supply in 70112, LA
How many homes are available in 70112, LA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 52 | 56 | +7.7% |
Summary: The 70112 real estate market had 56 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 | 23 | 20 | -13.0% |
| 2 Bedrooms | 7 | 13 | +85.7% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 70112 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 13%, 2 bedroom homes increased by 85.7%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 70112, you may be able to get a good deal. 87.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 70112 in May 2024, up by 60.0% month-over-month. Of the 8 sold homes, 88% were sold under asking, 13% were sold at asking, and 0% were sold over asking.
Days on Market for 70112, LA
How long does it take to sell a home in 70112, LA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 56 Days | 77 Days | +37.8% |
Summary: Homes in 70112 had an average of 77 days on market in May 2024, up by 37.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 70112 has remained consistent over time.
Summary: During May 2024, 8 homes were sold in 70112; 13% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
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