Is 70447, 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, 70447 was a Seller's Market.
Key Takeaway
70447 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 70447, LA
How much do homes in 70447, LA cost?
Median Sold Price
$385,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 70447 have sold for 5.2% more than they did a year ago.
Summary: The median home sold price in 70447 was $385,000 in May 2024, up 5.2% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $128.5K | $205K | +59.5% |
| 2 Bedrooms | $225K | $200K | -11.1% |
| 3 Bedrooms | $295K | $305K | +3.4% |
| 4 Bedrooms | $432.5K | $469K | +8.4% |
| 5+ Bedrooms | $637.5K | $695K | +9.0% |
Summary: 70447 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 59.5%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes increased by 9%.
Housing Supply in 70447, LA
How many homes are available in 70447, LA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 118 | 134 | +13.6% |
Summary: The 70447 real estate market had 134 homes for sale in May 2024, a 13.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 44 | 43 | -2.3% |
| 4 Bedrooms | 56 | 73 | +30.4% |
| 5+ Bedrooms | 16 | 16 | 0.0% |
Summary: The 70447 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 decreased by 2.3%, 4 bedroom homes increased by 30.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 20 | -9.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 70447, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 20 homes were sold or pending in 70447 in May 2024, down by 9.1% month-over-month. Of the 20 sold homes, 45% were sold under asking, 50% were sold at asking, and 5% were sold over asking.
Days on Market for 70447, LA
How long does it take to sell a home in 70447, LA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 23 Days | 45 Days | +95.8% |
Summary: Homes in 70447 had an average of 45 days on market in May 2024, up by 95.8% compared to last year.
Breakdown of Home Sale Times
13 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 70447 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 20 homes were sold in 70447; 65% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
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