$6,175 Closing Credit*
$520,000
2,690 SqFt
6 Beds
•6 Full Baths
Alondre Wells, Listing Office: Realty One Group Immobilia
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 December 2023
At the same time last year, Central Business District was a Seller's 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
$389,000
$360/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
-$76,000(-16.3%)
Key Takeaway
Homes in Central Business District have sold for 16.3% less than they did a year ago.
Summary: The median home sold price in Central Business District was $389,000 in December 2024, down 16.3% from last year, and the median price per square foot was $360.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $310.1K | $278.5K | -10.2% |
| 2 Bedrooms | $600K | $627.5K | +4.6% |
| 3 Bedrooms | $990K | $584K | -41.0% |
| 4 Bedrooms | $705.2K | $1.2M | +77.9% |
| 5+ Bedrooms | $479K | $872.5K | +82.2% |
Summary: Central Business District housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.2%, 2 bedroom homes increased by 4.6%, 3 bedroom homes decreased by 41%, 4 bedroom homes increased by 77.9%, and 5+ bedroom homes increased by 82.2%.
Median Sold Price Compared To Nearby Neighborhoods
| French Quarter | $445K | $407.1K | -8.5% |
| Lower Garden District | $367K | $316.5K | -13.8% |
| Central Business District | $465K | $389K | -16.3% |
Housing Supply in Central Business District, LA
How many homes are available in Central Business District, LA?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 78 | 80 | +2.6% |
Summary: The Central Business District real estate market had 80 homes for sale in December 2024, a 2.6% increase compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 21 | 21 | 0.0% |
| 2 Bedrooms | 36 | 35 | -2.8% |
| 3 Bedrooms | 12 | 14 | +16.7% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Central Business District housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 2.8%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
4 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 4 homes were sold or pending in Central Business District in December 2024, down by 20.0% month-over-month. Of the 4 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
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 136 Days | 152 Days | +11.8% |
Summary: Homes in Central Business District had an average of 152 days on market in Dec 2024, up by 11.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Central Business District are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During December 2024, 4 homes were sold in Central Business District; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.
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