Is 71119, LA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 71119 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 71119 was a Seller's Market.

Key Takeaway

71119 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 71119, LA

How much do homes in 71119, LA cost?

Median Sold Price

$192,450

$107/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$7,450(-3.7%)

Key Takeaway

Homes in 71119 have sold for 3.7% less than they did a year ago.

Summary: The median home sold price in 71119 was $192,450 in October 2024, down 3.7% from last year, and the median price per square foot was $107.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$59K
N/A
2 $121K$136.2K
+12.6%
3 $189K$174.9K
-7.5%
4 $224K$235K
+4.9%
5+ $274K$241K
-12.0%

Summary: 71119 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 12.6%, 3 bedroom homes decreased by 7.5%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes decreased by 12%.

Median Sold Price Compared To Nearby Zip Codes

71129
+16.6%
71107
+4.9%
71109
+0.7%
71119
-3.7%

Housing Supply in 71119, LA

How many homes are available in 71119, LA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6470+9.4%

Summary: The 71119 real estate market had 70 homes for sale in October 2024, a 9.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 45
+25.0%
3 3738
+2.7%
4 2024
+20.0%
5+ 22
0.0%

Summary: The 71119 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 increased by 25%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
96-33.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 71119, 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 71119 in October 2024, down by 33.3% month-over-month. Of the 6 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.

Days on Market for 71119, 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 5 Days Ago

Newest Listings in 71119, LA

Nearby Markets to 71119, LA