Is 70401, LA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 70401 is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 70401 was a Neutral Market.

Key Takeaway

70401 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 70401, LA

How much do homes in 70401, LA cost?

Median Sold Price

$221,900

$143/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$3,900(+1.8%)

Key Takeaway

Homes in 70401 have sold for 1.8% more than they did a year ago.

Summary: The median home sold price in 70401 was $221,900 in November 2024, up 1.8% from last year, and the median price per square foot was $143.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $82K$186K
+126.8%
2 $126.5K$96.7K
-23.5%
3 $195.4K$219K
+12.0%
4 $283.8K$280.8K
-1.1%
5+ $300.5K$519K
+72.7%

Summary: 70401 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 126.8%, 2 bedroom homes decreased by 23.5%, 3 bedroom homes increased by 12%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes increased by 72.7%.

Median Sold Price Compared To Nearby Zip Codes

70455
+6.8%
70403
+3.2%
70401
+1.8%

Housing Supply in 70401, LA

How many homes are available in 70401, LA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
9189-2.2%

Summary: The 70401 real estate market had 89 homes for sale in November 2024, a 2.2% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 10
-100.0%
2 66
0.0%
3 4545
0.0%
4 3030
0.0%
5+ 98
-11.1%

Summary: The 70401 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 11.1%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1610-37.5%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer50%30%20%

Key Takeaway

If you're buying a home in 70401, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 10 homes were sold or pending in 70401 in November 2024, down by 37.5% month-over-month. Of the 10 sold homes, 20% were sold under asking, 50% were sold at asking, and 30% were sold over asking.

Days on Market for 70401, LA

How long does it take to sell a home in 70401, LA?

Average Sale Time

Nov 2023Nov 2024CHANGE
54 Days65 Days+20.0%

Summary: Homes in 70401 had an average of 65 days on market in Nov 2024, up by 20% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times40%30%30%

Key Takeaway

Many homes in 70401 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 10 homes were sold in 70401; 40% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 30% 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 20 Days Ago

Newest Listings in 70401, LA

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