$4,869 Closing Credit*
$410,000
1,370 SqFt
3 Beds
•2 Full Baths
Rosalind Thibodeaux, Listing Office: Thibodeaux Reed Realty, LLC
Is Milan, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Milan has remained a Buyer'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
$410,000
$246/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$10,000(-2.4%)
Key Takeaway
Homes in Milan have sold for 2.4% less than they did a year ago.
Summary: The median home sold price in Milan was $410,000 in October 2024, down 2.4% from last year, and the median price per square foot was $246.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $227K | N/A |
| 2 Bedrooms | $375K | $372.5K | -0.7% |
| 3 Bedrooms | $414.5K | $369K | -11.0% |
| 4 Bedrooms | $522.6K | $755K | +44.5% |
| 5+ Bedrooms | $392.5K | $730K | +86.0% |
Summary: Milan 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 0.7%, 3 bedroom homes decreased by 11%, 4 bedroom homes increased by 44.5%, and 5+ bedroom homes increased by 86%.
Median Sold Price Compared To Nearby Neighborhoods
| Central City | $302.5K | $325K | +7.4% |
| Uptown / Carrollton | $464.6K | $497K | +7.0% |
| Broadmoor | $385K | $410K | +6.5% |
| Milan | $420K | $410K | -2.4% |
Housing Supply in Milan, LA
How many homes are available in Milan, LA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 40 | +21.2% |
Summary: The Milan real estate market had 40 homes for sale in October 2024, a 21.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 12 | 14 | +16.7% |
| 4 Bedrooms | 7 | 13 | +85.7% |
| 5+ Bedrooms | 10 | 9 | -10.0% |
Summary: The Milan housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 85.7%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Milan, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Milan in October 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 9 Days | 32 Days | +236.8% |
Summary: Homes in Milan had an average of 32 days on market in Oct 2024, up by 236.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Milan has remained consistent over time.
Summary: During October 2024, 1 homes were sold in Milan; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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