Is 70578, LA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 70578 is a buyer's market

Buyer's
Market

Difference Since October 2023

Since last year, 70578 has remained a Buyer's Market.

Key Takeaway

70578 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 70578, LA

How much do homes in 70578, LA cost?

Median Sold Price

$184,300

$113/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$3,300(+1.8%)

Key Takeaway

Homes in 70578 have sold for 1.8% more than they did a year ago.

Summary: The median home sold price in 70578 was $184,300 in October 2024, up 1.8% from last year, and the median price per square foot was $113.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $98.1K$117.5K
+19.8%
3 $182K$185.6K
+2.0%
4 $229K$244K
+6.6%
5+ $248.5K$207.9K
-16.3%

Summary: 70578 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.8%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes decreased by 16.3%.

Median Sold Price Compared To Nearby Zip Codes

70529
+3.8%
70578
+1.8%
70583
-0.7%
70526
-15.3%

Housing Supply in 70578, LA

How many homes are available in 70578, LA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4846-4.2%

Summary: The 70578 real estate market had 46 homes for sale in October 2024, a 4.2% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 55
0.0%
3 3235
+9.4%
4 85
-37.5%
5+ 31
-66.7%

Summary: The 70578 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 9.4%, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes decreased by 66.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
86-25.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 70578, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 6 homes were sold or pending in 70578 in October 2024, down by 25.0% month-over-month. Of the 6 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for 70578, LA

How long does it take to sell a home in 70578, LA?

Average Sale Time

Oct 2023Oct 2024CHANGE
84 Days51 Days-38.7%

Summary: Homes in 70578 had an average of 51 days on market in Oct 2024, down by 38.7% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 70578 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 6 homes were sold in 70578; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% 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

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