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....
First and foremost, I hope this post finds you all safe and well. The last few weeks have been physically and emotionally draining, to say the least. As we move forward on the road of recovery from Ida, let’s take a look at what the August stats tell us about the New Orleans market, and...
Mindy thought the front of our house was blah. I thought it was fine. This qualifies as a significant disagreement in our marriage, and for that, I’m eternally grateful. The more I looked at it, I started to see what she was getting at. We tend to hang out on the more exuberant side of...
Home prices in New Orleans decided a five month bender was enough. The median price of a home in Orleans Parish had increased 24% from February through June. That’s not healthy or sustainable. As if to prove that point, July’s median price fell 8%. No, this does not mean buyers can start throwing low-ball offers...
You know the feeling. Things are going well for a while — maybe longer than you expected. It’s all good, but a part of you is getting nervous. “How long is this gonna last? When’s the other shoe going to drop?” (If you’ve ever wondered where that phrase comes from, stay tuned.) I know a...
“Wait…what?” I was watching a local, New Orleans newscast this week — yeah, my life’s pretty off the chain like that — when they aired a story about the real estate market. Naturally, I tilted my head like a dog and paid attention. Unlike most dogs I know, I spoke words: “Wait…what?” The reporter was...
The bus our New Orleans real estate market has been on this year just pulled into Crazytown. The median price of a property sold in Orleans Parish last month was $362,000 — a 25% jump since January. That’s the fifth straight month with an increase, something we haven’t seen since 2008. June also set the...
