Covid, shmovid. Thanks to historically low interest rates, there are lots of buyers in the New Orleans market. Thanks to a historically low number of homes for sale, the competition is fierce, especially at the lower price points. Escalation clauses, rarely seen here, are now showing up in offers. Once again, this movement is taking...
*exaggeration, but not much of one This month’s numbers tell a tale of two markets in New Orleans. The market for detached homes in the city is on fire. August ended with the lowest number of single family homes for sale in New Orleans since June 2006. At the same time, demand is...
My apologies in advance if it sounds like this post was written by the love child of Debbie Downer and The Prince of Darkness. I’m normally a glass-half-full kind of guy, but there’s not enough lipstick to put on this pig. The New Orleans rental market is about to take a big hit for everybody...
Remember vacations? Pleasure trips? Traveling for fun? That was cool. Good times. I just wanted to remind you. That’s it. Seacrest out. I kid, but the trickle of tourists making their way back to the Quarter got me thinking. At some point in your life, you must have been on vacation and thought to...
In July, the median sales price for a home in New Orleans was $315,000. That beats the previous record set only 3 months ago, so this is no fluke. So far this year, prices are up 6.3% compared to the first 7 months of 2019. It took 24 days to get a home under contract...
That’s a question I always ask my buyers during our first meeting. It’s an awkward word but a great way to find out where the center of our search circle will be. About 90% of the time, that answer is work-related, and the radius of that search circle depends on the buyer’s definition of an...
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...
The number of sales in Orleans Parish in May was the lowest in five years. We expected a rebound in June and we got one. Closed sales almost doubled from May to a number only 5% off where we were last year. Considering the current circumstances, that’s pretty amazing. We know buyers are out there...
I did a couple of things last week for the first time since the COVID-19 lockdown started. First, I went into our Crescent City Living office on Magazine Street. There were never more than three of us in there at one time, but, damn, it felt good to get that team feeling again. The camaraderie...
We knew it was coming, but the headline from the May stats is still jarring. The number of sales was less than half of what it was in May 2019. In fact, you have to go back over 5 years to find a month with fewer sales. That we hit this low in May, which...
