$6,638 Closing Credit*
$559,000
1,595 SqFt
2 Beds
•2 Full Baths
Ansley Marshall, Listing Office: McEnery Residential, LLC
Is 70118, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 70118 was a Seller's Market.
Key Takeaway
70118 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 70118, LA
How much do homes in 70118, LA cost?
Median Sold Price
$427,000
$240/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$7,000(+1.7%)
Key Takeaway
Homes in 70118 have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in 70118 was $427,000 in October 2024, up 1.7% from last year, and the median price per square foot was $240.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $187.5K | $150K | -20.0% |
| 2 Bedrooms | $352.5K | $400K | +13.5% |
| 3 Bedrooms | $469K | $430K | -8.3% |
| 4 Bedrooms | $464.5K | $420K | -9.6% |
| 5+ Bedrooms | $609K | $615K | +1.0% |
Summary: 70118 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 13.5%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes decreased by 9.6%, and 5+ bedroom homes increased by 1%.
Housing Supply in 70118, LA
How many homes are available in 70118, LA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 239 | 274 | +14.6% |
Summary: The 70118 real estate market had 274 homes for sale in October 2024, a 14.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 6 | -25.0% |
| 2 Bedrooms | 41 | 54 | +31.7% |
| 3 Bedrooms | 78 | 86 | +10.3% |
| 4 Bedrooms | 62 | 70 | +12.9% |
| 5+ Bedrooms | 50 | 58 | +16.0% |
Summary: The 70118 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 31.7%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 16%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 20 | +5.3% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 70118, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 70118 in October 2024, up by 5.3% month-over-month. Of the 20 sold homes, 80% were sold under asking, 15% were sold at asking, and 5% were sold over asking.
Days on Market for 70118, LA
How long does it take to sell a home in 70118, LA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 40 Days | 88 Days | +117.2% |
Summary: Homes in 70118 had an average of 88 days on market in Oct 2024, up by 117.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 70118 has remained consistent over time.
Summary: During October 2024, 20 homes were sold in 70118; 20% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 35% of homes were sold over 90 days.
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