$3,088 Closing Credit*
$260,000
1,872 SqFt
4 Beds
•2 Full Baths
Robert Van Meter, Listing Office: Berkshire Hathaway HomeServices Preferred, REALTOR
Is Central City, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Central City has remained a Buyer's Market.
Key Takeaway
Central City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Central City, LA
How much do homes in Central City, LA cost?
Median Sold Price
$325,000
$234/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$18,500(+6.0%)
Key Takeaway
Homes in Central City have sold for 6% more than they did a year ago.
Summary: The median home sold price in Central City was $325,000 in November 2024, up 6% from last year, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $204K | $200K | -2.0% |
| 2 Bedrooms | $342.5K | $450K | +31.4% |
| 3 Bedrooms | $309K | $296.5K | -4.0% |
| 4 Bedrooms | $310K | $325K | +4.8% |
| 5+ Bedrooms | $435K | $435K | 0.0% |
Summary: Central City housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2%, 2 bedroom homes increased by 31.4%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Milan | $380K | $447.5K | +17.8% |
| Central City | $306.5K | $325K | +6.0% |
| Lower Garden District | $368.5K | $338K | -8.3% |
| Central Business District | $477K | $369.5K | -22.5% |
Housing Supply in Central City, LA
How many homes are available in Central City, LA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 78 | 90 | +15.4% |
Summary: The Central City real estate market had 90 homes for sale in November 2024, a 15.4% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 12 | 0.0% |
| 2 Bedrooms | 15 | 21 | +40.0% |
| 3 Bedrooms | 25 | 29 | +16.0% |
| 4 Bedrooms | 11 | 12 | +9.1% |
| 5+ Bedrooms | 15 | 16 | +6.7% |
Summary: The Central City 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 increased by 40%, 3 bedroom homes increased by 16%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Central City, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Central City in November 2024, up by 100.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Central City, LA
How long does it take to sell a home in Central City, LA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 60 Days | 96 Days | +59.9% |
Summary: Homes in Central City had an average of 96 days on market in Nov 2024, up by 59.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Central City has remained consistent over time.
Summary: During November 2024, 4 homes were sold in Central City; 0% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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