$495,000
Land
Frank Barrett, Listing Office: RE/MAX Affiliates
Is 70124, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 70124 has remained a Buyer's Market.
Key Takeaway
70124 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 70124, LA
How much do homes in 70124, LA cost?
Median Sold Price
$515,000
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$18,133(-3.4%)
Key Takeaway
Homes in 70124 have sold for 3.4% less than they did a year ago.
Summary: The median home sold price in 70124 was $515,000 in November 2024, down 3.4% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | $154K | -0.6% |
| 2 Bedrooms | $402.7K | $337.5K | -16.2% |
| 3 Bedrooms | $482.5K | $470K | -2.6% |
| 4 Bedrooms | $662.5K | $630K | -4.9% |
| 5+ Bedrooms | $730K | $725K | -0.7% |
Summary: 70124 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.6%, 2 bedroom homes decreased by 16.2%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes decreased by 4.9%, and 5+ bedroom homes decreased by 0.7%.
Housing Supply in 70124, LA
How many homes are available in 70124, LA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 238 | 247 | +3.8% |
Summary: The 70124 real estate market had 247 homes for sale in November 2024, a 3.8% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 8 | +14.3% |
| 2 Bedrooms | 24 | 22 | -8.3% |
| 3 Bedrooms | 86 | 86 | 0.0% |
| 4 Bedrooms | 69 | 75 | +8.7% |
| 5+ Bedrooms | 52 | 56 | +7.7% |
Summary: The 70124 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes decreased by 8.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 20 | 25 | +25.0% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 70124, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 25 homes were sold or pending in 70124 in November 2024, up by 25.0% month-over-month. Of the 25 sold homes, 80% were sold under asking, 16% were sold at asking, and 4% were sold over asking.
Days on Market for 70124, LA
How long does it take to sell a home in 70124, LA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 103 Days | 89 Days | -13.6% |
Summary: Homes in 70124 had an average of 89 days on market in Nov 2024, down by 13.6% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 70124 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 25 homes were sold in 70124; 44% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.
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