$5,344 Closing Credit*
$450,000
4,328 SqFt
8 Beds
•8 Full Baths
Austin McCann, Listing Office: KELLER WILLIAMS REALTY 455-0100
Is Milan, 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, Milan was a Seller's Market.
Key Takeaway
Milan is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Milan, LA
How much do homes in Milan, LA cost?
Median Sold Price
$447,500
$246/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$67,500(+17.8%)
Key Takeaway
Homes in Milan have sold for 17.8% more than they did a year ago.
Summary: The median home sold price in Milan was $447,500 in November 2024, up 17.8% from last year, and the median price per square foot was $246.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $158K | $229.5K | +45.3% |
| 2 Bedrooms | $392.5K | $342.5K | -12.7% |
| 3 Bedrooms | $375K | $399K | +6.4% |
| 4 Bedrooms | $522.6K | $800K | +53.1% |
| 5+ Bedrooms | $392.5K | $745K | +89.8% |
Summary: Milan housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 45.3%, 2 bedroom homes decreased by 12.7%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 53.1%, and 5+ bedroom homes increased by 89.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Milan | $380K | $447.5K | +17.8% |
| Touro | $690.5K | $735K | +6.4% |
| Central City | $306.5K | $325K | +6.0% |
| Uptown / Carrollton | $472K | $498.5K | +5.6% |
| Broadmoor | $380K | $390K | +2.6% |
Housing Supply in Milan, LA
How many homes are available in Milan, LA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 39 | 51 | +30.8% |
Summary: The Milan real estate market had 51 homes for sale in November 2024, a 30.8% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 12 | 18 | +50.0% |
| 4 Bedrooms | 13 | 15 | +15.4% |
| 5+ Bedrooms | 10 | 14 | +40.0% |
Summary: The Milan 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 increased by 50%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Milan, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Milan in November 2024, up by 300.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Milan, LA
How long does it take to sell a home in Milan, LA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 139 Days | 9 Days | -93.4% |
Summary: Homes in Milan had an average of 9 days on market in Nov 2024, down by 93.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Milan are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in Milan; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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.