The median price of a home in Orleans Parish reached a new high in April, continuing a run that has seen an increase of 19% in the last 20 months. Higher prices and the recent increases in mortgage rates might make the market look difficult for buyers, but… Price statistics are a look back, not...
The long, steady plunge of the number of homes for sale in New Orleans might finally be bouncing off the bottom. Inventory has been on a consistent decline for the last two years. We saw the first significant increase in March. The number of homes for sale jumped 9% from its ridiculous low last month....
I just updated the market information again for all 48 neighborhoods in my listing map of New Orleans. You’ll see these stats when you hover over each of the neighborhoods in the desktop version of the site. Freshening up these numbers gives me great information to track how prices are moving all over the city....
As expected, prices in February got real. Everything about January’s huge increase looked like it was an anomaly, and it was. However, this more realistic number is still up 10% from last February. There’s no indication this upward price trend will change anytime soon. The reason, yet again, is the lack of homes on the...
Great googly moogly. The median price of an Orleans Parish home soared in January, increasing more than 9% since December. Compare it to January of last year and the jump is even more eye-popping. If you’re looking to buy, don’t panic. If you own a home and think it’s worth 28% more than last year,...
Thanks to the holidays, December is never a good month for inventory. But even for a December, the number of homes for sale in Orleans Parish last month was…allow me to use a fancy real estate term…gross. Our market is at a tipping point, and there are a couple things happening that will sort themselves...
The November market stats show an inventory situation that’s gone from bad to worse. The pickings are always slim in November, but inventory this year is particularly scarce. There are fewer than half the number of homes for sale in Orleans Parish as there were two years ago. While the market overwhelmingly favors sellers, there...
I want to make you all aware of some unusual things happening in regards to homeowners insurance since Ida’s visit to southeastern Louisiana. First, my buyers have been seeing wild differences in quotes after going under contract on a property. Some of it depends upon the neighborhood, which is not new, but some of the...
This awful photo was taken last week around the corner from our house in the Bywater. The owners, Cindy and Big Chris, also own Vaughan’s Lounge. Cindy, Chris, and their dog, Chapo, were out of town when it happened. Cindy’s son and his girlfriend were house-sitting when the fire started and thankfully made it out...
The buyers came back to our real estate market in a big way last month. The number of pending sales in Orleans Parish had been in a steady decline since April, and bottomed out post-Ida in September. Buyers brushed themselves off, signed a lot of contracts in October, and sent pending sales back up a...
