$5,641 Closing Credit*
$475,000
1,980 SqFt
3 Beds
•2 Full Baths, 1 Partial
Bryan Francher, Listing Office: LATTER & BLUM (LATT28)
Is Mid City, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Mid City was a Seller's Market.
Key Takeaway
Mid City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mid City, LA
How much do homes in Mid City, LA cost?
Median Sold Price
$364,500
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$50,500(-12.2%)
Key Takeaway
Homes in Mid City have sold for 12.2% less than they did a year ago.
Summary: The median home sold price in Mid City was $364,500 in October 2024, down 12.2% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $207.5K | N/A |
| 2 Bedrooms | $297.7K | $296K | -0.6% |
| 3 Bedrooms | $451K | $465K | +3.1% |
| 4 Bedrooms | $413.5K | $380K | -8.1% |
| 5+ Bedrooms | $555K | $425K | -23.4% |
Summary: Mid City 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 decreased by 0.6%, 3 bedroom homes increased by 3.1%, 4 bedroom homes decreased by 8.1%, and 5+ bedroom homes decreased by 23.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Tulane / Gravier | $260K | $262.5K | +1.0% |
| Mid City | $415K | $364.5K | -12.2% |
| Treme | $395K | $296K | -25.1% |
Housing Supply in Mid City, LA
How many homes are available in Mid City, LA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 70 | 74 | +5.7% |
Summary: The Mid City real estate market had 74 homes for sale in October 2024, a 5.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 24 | 24 | 0.0% |
| 4 Bedrooms | 24 | 24 | 0.0% |
| 5+ Bedrooms | 15 | 19 | +26.7% |
Summary: The Mid City 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 26.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 7 | +75.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Mid City, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Mid City in October 2024, up by 75.0% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.
Days on Market for Mid City, LA
How long does it take to sell a home in Mid City, LA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 59 Days | 78 Days | +30.4% |
Summary: Homes in Mid City had an average of 78 days on market in Oct 2024, up by 30.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Mid City are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 7 homes were sold in Mid City; 14% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 57% of homes were sold over 90 days.
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