Is 70458, 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, 70458 was a Seller's Market.
Key Takeaway
70458 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 70458, LA
How much do homes in 70458, LA cost?
Median Sold Price
$243,000
$136/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 70458 have sold for 0.8% less than they did a year ago.
Summary: The median home sold price in 70458 was $243,000 in May 2024, down 0.8% from last year, and the median price per square foot was $136.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $102K | $105.7K | +3.6% |
| 2 Bedrooms | $146.2K | $155K | +6.0% |
| 3 Bedrooms | $221K | $230K | +4.1% |
| 4 Bedrooms | $290K | $278.8K | -3.8% |
| 5+ Bedrooms | $355.9K | $385K | +8.2% |
Summary: 70458 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.6%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 4.1%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes increased by 8.2%.
Housing Supply in 70458, LA
How many homes are available in 70458, LA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 272 | 306 | +12.5% |
Summary: The 70458 real estate market had 306 homes for sale in May 2024, a 12.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 21 | 25 | +19.0% |
| 3 Bedrooms | 110 | 122 | +10.9% |
| 4 Bedrooms | 114 | 130 | +14.0% |
| 5+ Bedrooms | 23 | 25 | +8.7% |
Summary: The 70458 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 19%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 14%, and 5+ bedroom homes increased by 8.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 36 | 33 | -8.3% |
Asking Price vs. Sold Price
22 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 70458, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 33 homes were sold or pending in 70458 in May 2024, down by 8.3% month-over-month. Of the 33 sold homes, 67% were sold under asking, 30% were sold at asking, and 3% were sold over asking.
Days on Market for 70458, LA
How long does it take to sell a home in 70458, LA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 35 Days | 84 Days | +141.1% |
Summary: Homes in 70458 had an average of 84 days on market in May 2024, up by 141.1% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 70458 has remained consistent over time.
Summary: During May 2024, 33 homes were sold in 70458; 21% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.
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