Is 70005, LA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 70005 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 70005 was a Seller's Market.

Key Takeaway

70005 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 70005, LA

How much do homes in 70005, LA cost?

Median Sold Price

$411,000

$236/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$11,000(+2.8%)

Key Takeaway

Homes in 70005 have sold for 2.8% more than they did a year ago.

Summary: The median home sold price in 70005 was $411,000 in October 2024, up 2.8% from last year, and the median price per square foot was $236.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $110.7K$219.2K
+98.0%
2 $280K$207.5K
-25.9%
3 $375K$385K
+2.7%
4 $660K$789K
+19.5%
5+ $1.1M$1.1M
-0.4%

Summary: 70005 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 98%, 2 bedroom homes decreased by 25.9%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 19.5%, and 5+ bedroom homes decreased by 0.4%.

Median Sold Price Compared To Nearby Zip Codes

70005
+2.8%
70001
0.5%
70124
-2.4%

Housing Supply in 70005, LA

How many homes are available in 70005, LA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
156175+12.2%

Summary: The 70005 real estate market had 175 homes for sale in October 2024, a 12.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 78
+14.3%
2 1622
+37.5%
3 6369
+9.5%
4 4043
+7.5%
5+ 3033
+10.0%

Summary: The 70005 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 37.5%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 10%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1416+14.3%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 70005, you may be able to get a good deal. 87.5% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in 70005 in October 2024, up by 14.3% month-over-month. Of the 16 sold homes, 88% were sold under asking, 6% were sold at asking, and 6% were sold over asking.

Days on Market for 70005, LA

How long does it take to sell a home in 70005, LA?

Average Sale Time

Oct 2023Oct 2024CHANGE
43 Days47 Days+7.3%

Summary: Homes in 70005 had an average of 47 days on market in Oct 2024, up by 7.3% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 70005 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 16 homes were sold in 70005; 50% of homes were sold within 30 days, 38% 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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