$1,781 Closing Credit*
$150,000
1,200 SqFt
2 Beds
•1 Full Bath
Jason Gale, Listing Office: Redfin Corporation
Is Mid City, 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, Mid City was a Neutral 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
$359,000
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$56,000(-13.5%)
Key Takeaway
Homes in Mid City have sold for 13.5% less than they did a year ago.
Summary: The median home sold price in Mid City was $359,000 in November 2024, down 13.5% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $207.5K | N/A |
| 2 Bedrooms | $310K | $285.5K | -7.9% |
| 3 Bedrooms | $454.2K | $460K | +1.3% |
| 4 Bedrooms | $402K | $369K | -8.2% |
| 5+ Bedrooms | $515K | $425K | -17.5% |
Summary: Mid City housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7.9%, 3 bedroom homes increased by 1.3%, 4 bedroom homes decreased by 8.2%, and 5+ bedroom homes decreased by 17.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Tulane / Gravier | $250K | $278.7K | +11.5% |
| Mid City | $415K | $359K | -13.5% |
| Treme | $396.5K | $293K | -26.1% |
Housing Supply in Mid City, LA
How many homes are available in Mid City, LA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 59 | 60 | +1.7% |
Summary: The Mid City real estate market had 60 homes for sale in November 2024, a 1.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 19 | 18 | -5.3% |
| 4 Bedrooms | 17 | 19 | +11.8% |
| 5+ Bedrooms | 16 | 16 | 0.0% |
Summary: The Mid 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 remained the same, 3 bedroom homes decreased by 5.3%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 3 | -62.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mid City, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Mid City in November 2024, down by 62.5% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 112 Days | 107 Days | -4.2% |
Summary: Homes in Mid City had an average of 107 days on market in Nov 2024, down by 4.2% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 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 November 2024, 3 homes were sold in Mid City; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
Disclaimer: Copyright © 2024, New Orleans Metropolitan Association of REALTORS©, Inc. All rights reserved. Information deemed reliable, but not verified or guaranteed. Users are responsible for checking the accuracy, completeness, currency, and status of all information. The sharing of MLS database, or any portion thereof, with any unauthorized third party is strictly prohibited. Information contained on this site is believed to be reliable; yet, users of this web site are responsible for checking the accuracy, completeness, currency, or suitability of all information. Neither the New Orleans Metropolitan Association of REALTORS©, Inc. nor the Gulf South Real Estate Information Network, Inc. makes any representation, guarantees, or warranties as to the accuracy, completeness, currency, or suitability of the information provided. They specifically disclaim any and all liability for all claims or damages that may result from providing information to be used on the web site, or the information which it contains, including any web sites maintained by third parties, which may be linked to this web site.