Is 70512, LA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 70512 is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, 70512 was a Buyer's Market.

Key Takeaway

70512 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 70512, LA

How much do homes in 70512, LA cost?

Median Sold Price

$236,500

$138/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

+$17,000(+7.7%)

Key Takeaway

Homes in 70512 have sold for 7.7% more than they did a month ago.

Summary: The median home sold price in 70512 was $236,500 in November 2024, up 7.7% from last month, and the median price per square foot was $138.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 -$155K
N/A
2 -$132.5K
N/A
3 $289K$297.5K
+2.9%
4 $150K$1.0M
+606.7%
5+ --
N/A

Summary: 70512 housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 606.7%, and 5+ bedroom homes did not change.

Housing Supply in 70512, LA

How many homes are available in 70512, LA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2628+7.7%

Summary: The 70512 real estate market had 28 homes for sale in November 2024, a 7.7% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 33
0.0%
2 23
+50.0%
3 1315
+15.4%
4 76
-14.3%
5+ 11
0.0%

Summary: The 70512 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 15.4%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
26+200.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 70512, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 70512 in November 2024, up by 200.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.

Days on Market for 70512, LA

How long does it take to sell a home in 70512, LA?

Average Sale Time

Oct 2024Nov 2024CHANGE
2 Days92 Days+3606.7%

Summary: Homes in 70512 had an average of 92 days on market in Nov 2024, up by 3606.7% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 70512 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During November 2024, 6 homes were sold in 70512; 33% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 50% 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 23 Days Ago

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