The skyrocketing cost of homeowner’s insurance in New Orleans has become a hot topic of conversation around the Rêve office. First of all, it’s causing havoc in some of our transactions. We’re finding buyers pre-approved by primarily out-of-town lenders who suddenly lose their approval because the actual premiums are much higher than what the lender...
“Alright, Alright…” Digging through the May market stats had me channeling my inner Matthew McConaughey. The number of homes for sale in Orleans Parish increased for the third month in a row, We have a long way to go yet before we get some balance in the market, but things are finally trending in the...
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...
Mindy and I were just talking about how September was incredibly weird. It felt like the entire month never happened. Our real estate market followed suit. All the stats that reflect market activity dropped substantially in September. After Ida, sellers had neither the interest nor the time to put their homes on the market. Take...
Flood insurance is a big deal in New Orleans, and some substantial changes are being made to the program starting October 1st. (There is a last-second bill in the Senate looking to delay the implementation until next year.) Premiums will be going up for the vast majority of us, but the details are pretty confusing....
