Is 70501, 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, 70501 has remained a Seller's Market.
Key Takeaway
70501 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 70501, LA
How much do homes in 70501, LA cost?
Median Sold Price
$165,000
$115/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 70501 have sold for 0.8% more than they did a year ago.
Summary: The median home sold price in 70501 was $165,000 in May 2024, up 0.8% from last year, and the median price per square foot was $115.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $35.5K | $90.1K | +153.9% |
| 2 Bedrooms | $119K | $104.5K | -12.2% |
| 3 Bedrooms | $158K | $158K | 0.0% |
| 4 Bedrooms | $243.5K | $258.5K | +6.2% |
| 5+ Bedrooms | $293.7K | $225K | -23.4% |
Summary: 70501 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 153.9%, 2 bedroom homes decreased by 12.2%, 3 bedroom homes did not change, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes decreased by 23.4%.
Median Sold Price Compared To Nearby Zip Codes
| 70501 | $163.7K | $165K | +0.8% |
| 70503 | $291K | $282.5K | -2.9% |
| 70507 | $224.8K | $210K | -6.6% |
| 70506 | $220K | $204K | -7.3% |
| 70508 | $288.1K | $266.9K | -7.4% |
Housing Supply in 70501, LA
How many homes are available in 70501, LA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 112 | 104 | -7.1% |
Summary: The 70501 real estate market had 104 homes for sale in May 2024, a 7.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 22 | 27 | +22.7% |
| 3 Bedrooms | 53 | 47 | -11.3% |
| 4 Bedrooms | 31 | 25 | -19.4% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The 70501 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 22.7%, 3 bedroom homes decreased by 11.3%, 4 bedroom homes decreased by 19.4%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 21 | -8.7% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 70501, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in 70501 in May 2024, down by 8.7% month-over-month. Of the 21 sold homes, 43% were sold under asking, 43% were sold at asking, and 14% were sold over asking.
Days on Market for 70501, LA
How long does it take to sell a home in 70501, LA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 69 Days | 49 Days | -28.5% |
Summary: Homes in 70501 had an average of 49 days on market in May 2024, down by 28.5% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 70501 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 21 homes were sold in 70501; 52% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the IDX Program of the REALTORS® Association of Acadiana’s MLS. Real Estate listings held by other brokerage firms are marked with the MLS approved icon for IDX. The materials contained within this page may not be reproduced without the express written consent of The Realtor® Association of Acadiana. The information contained within this page is for personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but is not guaranteed and should be verified by personal inspection or with the appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. The materials contained within this page may not be reproduced without the express written consent of this broker. Some real estate firms do not participate in Internet Data Exchange® and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Some or all of the listings displayed may not belong to the firm whose web site is being visited.