Is 70002, LA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 70002 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 70002 was a Seller's Market.

Key Takeaway

70002 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 70002, LA

How much do homes in 70002, LA cost?

Median Sold Price

$345,000

$171/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$12,500(+3.8%)

Key Takeaway

Homes in 70002 have sold for 3.8% more than they did a year ago.

Summary: The median home sold price in 70002 was $345,000 in October 2024, up 3.8% from last year, and the median price per square foot was $171.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $115K$114K
-0.9%
2 $136.9K$159.9K
+16.8%
3 $354.9K$345K
-2.8%
4 $495K$478.5K
-3.3%
5+ $482K$430K
-10.8%

Summary: 70002 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.9%, 2 bedroom homes increased by 16.8%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes decreased by 10.8%.

Median Sold Price Compared To Nearby Zip Codes

70002
+3.8%
70005
+2.8%
70001
0.5%
70006
-2.0%
70124
-2.4%

Housing Supply in 70002, LA

How many homes are available in 70002, LA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
94105+11.7%

Summary: The 70002 real estate market had 105 homes for sale in October 2024, a 11.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 89
+12.5%
2 1112
+9.1%
3 2931
+6.9%
4 3037
+23.3%
5+ 1616
0.0%

Summary: The 70002 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 23.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1416+14.3%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 70002, you may be able to get a good deal. 68.8% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in 70002 in October 2024, up by 14.3% month-over-month. Of the 16 sold homes, 69% were sold under asking, 13% were sold at asking, and 19% were sold over asking.

Days on Market for 70002, LA

How long does it take to sell a home in 70002, LA?

Average Sale Time

Oct 2023Oct 2024CHANGE
20 Days33 Days+60.8%

Summary: Homes in 70002 had an average of 33 days on market in Oct 2024, up by 60.8% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 70002 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 16 homes were sold in 70002; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% 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 13 Days Ago

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