Is 71101, LA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 71101 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 71101 has remained a Seller's Market.

Key Takeaway

71101 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 71101, LA

How much do homes in 71101, LA cost?

Median Sold Price

$50,500

$35/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$1,500(-2.9%)

Key Takeaway

Homes in 71101 have sold for 2.9% less than they did a year ago.

Summary: The median home sold price in 71101 was $50,500 in November 2024, down 2.9% from last year, and the median price per square foot was $35.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$84.5K
N/A
2 $65K$28.3K
-56.3%
3 $54.5K$40K
-26.6%
4 $52K$65K
+25.0%
5+ $45K$50K
+11.1%

Summary: 71101 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 56.3%, 3 bedroom homes decreased by 26.6%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 11.1%.

Median Sold Price Compared To Nearby Zip Codes

71112
+9.6%
71104
+3.8%
71111
-1.9%
71101
-2.9%
71103
-15.2%

Housing Supply in 71101, LA

How many homes are available in 71101, LA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2118-14.3%

Summary: The 71101 real estate market had 18 homes for sale in November 2024, a 14.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 44
0.0%
3 66
0.0%
4 85
-37.5%
5+ 22
0.0%

Summary: The 71101 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
45+25.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 71101, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.

Summary: A total of 5 homes were sold or pending in 71101 in November 2024, up by 25.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 60% were sold at asking, and 0% were sold over asking.

Days on Market for 71101, LA

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

Newest Listings in 71101, LA

Nearby Markets to 71101, LA