$9,500 Closing Credit*
$800,000
1,550 SqFt
4 Beds
•2 Full Baths
Louis Williams, Listing Office: KELLER WILLIAMS REALTY 455-0100
Is Central Business District, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Central Business District was a Neutral Market.
Key Takeaway
Central Business District is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Central Business District, LA
How much do homes in Central Business District, LA cost?
Median Sold Price
$369,500
$363/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$107,500(-22.5%)
Key Takeaway
Homes in Central Business District have sold for 22.5% less than they did a year ago.
Summary: The median home sold price in Central Business District was $369,500 in November 2024, down 22.5% from last year, and the median price per square foot was $363.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $300K | $285.5K | -4.8% |
| 2 Bedrooms | $628.2K | $602.5K | -4.1% |
| 3 Bedrooms | $1.1M | $512K | -54.6% |
| 4 Bedrooms | $705.2K | $1.2M | +77.9% |
| 5+ Bedrooms | $432K | $872.5K | +102.0% |
Summary: Central Business District housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.8%, 2 bedroom homes decreased by 4.1%, 3 bedroom homes decreased by 54.6%, 4 bedroom homes increased by 77.9%, and 5+ bedroom homes increased by 102%.
Median Sold Price Compared To Nearby Neighborhoods
| Tulane / Gravier | $250K | $278.7K | +11.5% |
| French Quarter | $445K | $409K | -8.1% |
| Lower Garden District | $368.5K | $338K | -8.3% |
| Central Business District | $477K | $369.5K | -22.5% |
Housing Supply in Central Business District, LA
How many homes are available in Central Business District, LA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 72 | 84 | +16.7% |
Summary: The Central Business District real estate market had 84 homes for sale in November 2024, a 16.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 20 | 23 | +15.0% |
| 2 Bedrooms | 32 | 37 | +15.6% |
| 3 Bedrooms | 13 | 13 | 0.0% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The Central Business District housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15%, 2 bedroom homes increased by 15.6%, 3 bedroom homes remained the same, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 0 | 5 | +100.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Central Business District, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Central Business District in November 2024, up by 100.0% month-over-month. Of the 5 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Central Business District, LA
How long does it take to sell a home in Central Business District, LA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 171 Days | 53 Days | -69.1% |
Summary: Homes in Central Business District had an average of 53 days on market in Nov 2024, down by 69.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Central Business District are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in Central Business District; 60% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
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