$8,847 Closing Credit*
$745,000
3,780 SqFt
4 Beds
•3 Full Baths, 1 Partial
Shelley Ross, Listing Office: Ross Realty, LLC
Is 70116, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 70116 has remained a Buyer's Market.
Key Takeaway
70116 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 70116, LA
How much do homes in 70116, LA cost?
Median Sold Price
$350,000
$274/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$25,000(-6.7%)
Key Takeaway
Homes in 70116 have sold for 6.7% less than they did a year ago.
Summary: The median home sold price in 70116 was $350,000 in October 2024, down 6.7% from last year, and the median price per square foot was $274.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $320K | $284.7K | -11.0% |
| 2 Bedrooms | $474.5K | $327.5K | -31.0% |
| 3 Bedrooms | $395K | $290K | -26.6% |
| 4 Bedrooms | $323.5K | $392.9K | +21.5% |
| 5+ Bedrooms | $664.7K | $534.5K | -19.6% |
Summary: 70116 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11%, 2 bedroom homes decreased by 31%, 3 bedroom homes decreased by 26.6%, 4 bedroom homes increased by 21.5%, and 5+ bedroom homes decreased by 19.6%.
Housing Supply in 70116, LA
How many homes are available in 70116, LA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 193 | 236 | +22.3% |
Summary: The 70116 real estate market had 236 homes for sale in October 2024, a 22.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 37 | 48 | +29.7% |
| 2 Bedrooms | 51 | 57 | +11.8% |
| 3 Bedrooms | 32 | 41 | +28.1% |
| 4 Bedrooms | 35 | 42 | +20.0% |
| 5+ Bedrooms | 38 | 48 | +26.3% |
Summary: The 70116 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 29.7%, 2 bedroom homes increased by 11.8%, 3 bedroom homes increased by 28.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 26.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 70116, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 70116 in October 2024, up by 60.0% month-over-month. Of the 8 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for 70116, LA
How long does it take to sell a home in 70116, LA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 51 Days | 72 Days | +41.3% |
Summary: Homes in 70116 had an average of 72 days on market in Oct 2024, up by 41.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 70116 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 8 homes were sold in 70116; 38% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
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