Is 70131, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 70131 was a Seller's Market.
Housing Prices in 70131, LA
How much do homes in 70131, LA cost?
Median Sold Price
$239,000
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 70131 was $239,000 in April 2024, down 8.5% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $65K | - | N/A |
2 Bedrooms | $100K | $119K | +19.0% |
3 Bedrooms | $200K | $185K | -7.5% |
4 Bedrooms | $290K | $271.5K | -6.4% |
5+ Bedrooms | $367.5K | $386K | +5.0% |
Summary: 70131 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 increased by 19%, 3 bedroom homes decreased by 7.5%, 4 bedroom homes decreased by 6.4%, and 5+ bedroom homes increased by 5%.
Housing Supply in 70131, LA
How many homes are available in 70131, LA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
128 | 149 | +16.4% |
Summary: The 70131 real estate market had 149 homes for sale in April 2024, a 16.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 12 | 14 | +16.7% |
3 Bedrooms | 37 | 48 | +29.7% |
4 Bedrooms | 56 | 60 | +7.1% |
5+ Bedrooms | 22 | 26 | +18.2% |
Summary: The 70131 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 increased by 16.7%, 3 bedroom homes increased by 29.7%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
15 | 14 | -6.7% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 14 homes were sold or pending in 70131 in April 2024, down by 6.7% month-over-month. Of the 14 sold homes, 86% were sold under asking, 7% were sold at asking, and 7% were sold over asking.
Days on Market for 70131, LA
How long does it take to sell a home in 70131, LA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
51 Days | 40 Days | -21.8% |
Summary: Homes in 70131 had an average of 40 days on market in Apr 2024, down by 21.8% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 14 homes were sold in 70131; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.