Is Arabi, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Arabi has remained a Buyer's Market.
Key Takeaway
Arabi is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Arabi, LA
How much do homes in Arabi, LA cost?
Median Sold Price
$302,500
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Arabi have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in Arabi was $302,500 in April 2024, up 4.1% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $185K | $167.5K | -9.5% |
| 3 Bedrooms | $292.7K | $278.9K | -4.7% |
| 4 Bedrooms | $400K | $355K | -11.3% |
| 5+ Bedrooms | $399K | $379.9K | -4.8% |
Summary: Arabi 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 decreased by 9.5%, 3 bedroom homes decreased by 4.7%, 4 bedroom homes decreased by 11.3%, and 5+ bedroom homes decreased by 4.8%.
Median Sold Price Compared To Nearby Cities
| Arabi | $290.5K | $302.5K | +4.1% |
| Chalmette | $235.1K | $238.7K | +1.5% |
| New Orleans | $336K | $325.1K | -3.2% |
Housing Supply in Arabi, LA
How many homes are available in Arabi, LA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 50 | 54 | +8.0% |
Summary: The Arabi real estate market had 54 homes for sale in April 2024, a 8.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 29 | 30 | +3.4% |
| 4 Bedrooms | 14 | 17 | +21.4% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Arabi 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 50%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 5 | -37.5% |
Asking Price vs. Sold Price
4 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 Arabi, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Arabi in April 2024, down by 37.5% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for Arabi, LA
How long does it take to sell a home in Arabi, LA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 37 Days | 80 Days | +117.3% |
Summary: Homes in Arabi had an average of 80 days on market in Apr 2024, up by 117.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Arabi are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in Arabi; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
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