Is 70001, LA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 70001 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 70001 was a Seller's Market.

Key Takeaway

70001 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 70001, LA

How much do homes in 70001, LA cost?

Median Sold Price

$319,833

$191/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$1,583(+0.5%)

Key Takeaway

The sold price of homes in 70001 has remained the same since last year.

Summary: The median home sold price in 70001 was $319,833 in October 2024, up 0.5% from last year, and the median price per square foot was $191.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $84.5K$81.7K
-3.3%
2 $225K$185K
-17.8%
3 $312.7K$325K
+3.9%
4 $420K$409.9K
-2.4%
5+ $480K$410K
-14.6%

Summary: 70001 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.3%, 2 bedroom homes decreased by 17.8%, 3 bedroom homes increased by 3.9%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes decreased by 14.6%.

Median Sold Price Compared To Nearby Zip Codes

70002
+3.8%
70005
+2.8%
70001
0.5%
70121
-0.3%
70006
-2.0%

Housing Supply in 70001, LA

How many homes are available in 70001, LA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
155176+13.5%

Summary: The 70001 real estate market had 176 homes for sale in October 2024, a 13.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 77
0.0%
2 2528
+12.0%
3 6991
+31.9%
4 3735
-5.4%
5+ 1715
-11.8%

Summary: The 70001 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 31.9%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes decreased by 11.8%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
25250.0%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 70001, you may be able to get a good deal. 76% of homes here sold below asking price last month.

Summary: A total of 25 homes were sold or pending in 70001 in October 2024, the same as the previous month. Of the 25 sold homes, 76% were sold under asking, 16% were sold at asking, and 8% were sold over asking.

Days on Market for 70001, LA

How long does it take to sell a home in 70001, LA?

Average Sale Time

Oct 2023Oct 2024CHANGE
53 Days63 Days+18.6%

Summary: Homes in 70001 had an average of 63 days on market in Oct 2024, up by 18.6% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 70001 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 25 homes were sold in 70001; 48% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

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