Is 70006, LA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 70006 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 70006 was a Seller's Market.

Key Takeaway

70006 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 70006, LA

How much do homes in 70006, LA cost?

Median Sold Price

$327,500

$161/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$6,850(-2.0%)

Key Takeaway

Homes in 70006 have sold for 2% less than they did a year ago.

Summary: The median home sold price in 70006 was $327,500 in October 2024, down 2% from last year, and the median price per square foot was $161.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $135K$125K
-7.4%
2 $151K$145K
-4.0%
3 $305.7K$290K
-5.2%
4 $385K$392K
+1.8%
5+ $557.7K$480K
-13.9%

Summary: 70006 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.4%, 2 bedroom homes decreased by 4%, 3 bedroom homes decreased by 5.2%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes decreased by 13.9%.

Median Sold Price Compared To Nearby Zip Codes

70002
+3.8%
70003
+2.3%
70001
0.5%
70006
-2.0%

Housing Supply in 70006, LA

How many homes are available in 70006, LA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7583+10.7%

Summary: The 70006 real estate market had 83 homes for sale in October 2024, a 10.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 65
-16.7%
2 64
-33.3%
3 3342
+27.3%
4 1721
+23.5%
5+ 1311
-15.4%

Summary: The 70006 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes decreased by 15.4%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
119-18.2%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 70006, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in 70006 in October 2024, down by 18.2% month-over-month. Of the 9 sold homes, 56% were sold under asking, 11% were sold at asking, and 33% were sold over asking.

Days on Market for 70006, LA

How long does it take to sell a home in 70006, LA?

Average Sale Time

Oct 2023Oct 2024CHANGE
31 Days54 Days+69.3%

Summary: Homes in 70006 had an average of 54 days on market in Oct 2024, up by 69.3% 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in 70006 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 9 homes were sold in 70006; 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.

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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