When you go to my neighborhood map of New Orleans, you’ll see stats when you hover over each one. (If you’re using a mobile device, be patient. That’s coming.) You can get a quick statistical snapshot of the neighborhood before you click to search listings. I’d entered those stats eight months ago, so it was time to freshen up those numbers.
As I was going through this process, I compared the new data to the old to get pricing trends for all 48 of the neighborhoods. The median sales price is based upon transactions that closed in the last 12 months. The number of sales is included, so you can see how active the market has been in each neighborhood and get a sense for how seriously to take the trends. For example, there are three neighborhoods that average less than a sale per month; that’s not a large enough sample size to get a truly accurate result.
|Neighborhood||Median Sales Price Change||Number of Sales|
|5||English Turn/Lower Coast||+11.5%||41|
|20||Lake Shore/Lake Vista||+5%||40|
|24||New Orleans East||+3.3%||345|
|29||Pontchartrain Park/Gentilly Woods||+2.5%||76|
|32||Bayou St. John||+1%||38|
|34||St. Claude||no change||79|
|35||Garden District||no change||41|
|36||Lake Terrace/Oaks||no change||27|
|41||Lower 9th Ward||-5%||20|
|43||Lower Garden District||-5.9%||102|
One thing to keep in mind is this utilizes only single family homes, condos, townhomes and patio homes. Our system sorts doubles into a separate, multi-family category. If you have any questions, please feel free to ask me. I’ll post a new ranking when I update the stats again.