Is 70520, LA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 70520 is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 70520 was a Seller's Market.

Key Takeaway

70520 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 70520, LA

How much do homes in 70520, LA cost?

Median Sold Price

$217,737

$138/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$747(+0.3%)

Key Takeaway

The sold price of homes in 70520 has remained the same since last year.

Summary: The median home sold price in 70520 was $217,737 in November 2024, up 0.3% from last year, and the median price per square foot was $138.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $91K$65K
-28.6%
2 $227K$175K
-22.9%
3 $209.4K$208.9K
-0.2%
4 $385K$280K
-27.3%
5+ $824.5K$596.9K
-27.6%

Summary: 70520 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 28.6%, 2 bedroom homes decreased by 22.9%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes decreased by 27.6%.

Median Sold Price Compared To Nearby Zip Codes

70520
0.3%
70507
-0.3%
70584
-3.2%
70583
-4.9%

Housing Supply in 70520, LA

How many homes are available in 70520, LA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
8789+2.3%

Summary: The 70520 real estate market had 89 homes for sale in November 2024, a 2.3% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 43
-25.0%
3 6666
0.0%
4 1517
+13.3%
5+ 12
+100.0%

Summary: The 70520 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 decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1911-42.1%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 70520, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in 70520 in November 2024, down by 42.1% month-over-month. Of the 11 sold homes, 55% were sold under asking, 18% were sold at asking, and 27% were sold over asking.

Days on Market for 70520, LA

How long does it take to sell a home in 70520, LA?

Average Sale Time

Nov 2023Nov 2024CHANGE
34 Days49 Days+43.8%

Summary: Homes in 70520 had an average of 49 days on market in Nov 2024, up by 43.8% compared to last year.

Breakdown of Home Sale Times

7 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

Many homes in 70520 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 11 homes were sold in 70520; 64% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 27% 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 22 Days Ago

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