Is Lower Garden District, 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, Lower Garden District was a Seller's Market.
Housing Prices in Lower Garden District, LA
How much do homes in Lower Garden District, LA cost?
Median Sold Price
$377,000
$339/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lower Garden District was $377,000 in April 2024, up 0.5% from last year, and the median price per square foot was $339.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $252.4K | $245K | -2.9% |
2 Bedrooms | $380K | $385K | +1.3% |
3 Bedrooms | $550.2K | $565K | +2.7% |
4 Bedrooms | $795K | $1.2M | +59.7% |
5+ Bedrooms | $1.0M | $832.5K | -17.7% |
Summary: Lower Garden District housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.9%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 59.7%, and 5+ bedroom homes decreased by 17.7%.
Median Sold Price Compared To Nearby Neighborhoods
Central Business District | $465K | $485K | +4.3% |
Lower Garden District | $375K | $377K | 0.5% |
Irish Channel | $485K | $463K | -4.5% |
Central City | $319K | $302.5K | -5.2% |
Housing Supply in Lower Garden District, LA
How many homes are available in Lower Garden District, LA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
110 | 121 | +10.0% |
Summary: The Lower Garden District real estate market had 121 homes for sale in April 2024, a 10.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 29 | 35 | +20.7% |
2 Bedrooms | 42 | 42 | 0.0% |
3 Bedrooms | 12 | 17 | +41.7% |
4 Bedrooms | 12 | 11 | -8.3% |
5+ Bedrooms | 15 | 16 | +6.7% |
Summary: The Lower Garden District housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20.7%, 2 bedroom homes remained the same, 3 bedroom homes increased by 41.7%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 9 | +12.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Lower Garden District in April 2024, up by 12.5% month-over-month. Of the 9 sold homes, 56% were sold under asking, 22% were sold at asking, and 22% were sold over asking.
Days on Market for Lower Garden District, LA
How long does it take to sell a home in Lower Garden District, LA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
90 Days | 69 Days | -22.8% |
Summary: Homes in Lower Garden District had an average of 69 days on market in Apr 2024, down by 22.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 9 homes were sold in Lower Garden District; 44% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.