I’m a fan of Leonidas. Pronounced (lee-ahn-EYE-dis). Or (lee-AHN-i-dis). Or (lee-AHN-druss), for some reason. Mindy and I were one bad inspection away from calling it home. For years, you couldn’t talk to a Realtor about Leonidas without the new Lycée Français high school coming up. And, for years, you could drive by the old (Don’t...
Somebody get Wolf Blitzer. We have breaking news. Buyer demand in March spiked to record levels, with more pending sales in Orleans Parish than we’ve seen in any prior month. Here’s how March pending sales numbers look compared to the last ten years. If you throw 2020 out as a COVID outlier, April sees the...
In January, the median price of a home in Orleans Parish dropped for the third month in a row. I’d posted that it looked like the market might be catching its breath. Well, it took off running again in February. The median price bounced all the way up to $324,000, wiping out the previous months’...
The biggest real estate story of 2020 was the lack of inventory all over the country. New Orleans certainly played its part, with new listings off only slightly from 2019, and a surge of buyer demand gobbling them all up. But as challenging as things are for buyers in Orleans Parish, they’re exponentially more difficult...
Real estate markets have a seasonal rhythm to them. New Orleans is no exception. Since most people don’t want to put their home on the market during the holidays, and buyers are too busy celebrating with their families to bother looking, the year starts out slow. The number of new listings hits its peak in...
I was pulling up some charts for a conversation with a buyer who’s been talking about “waiting for prices to go down” when I came upon this one. This is the median sales price for all residential properties in Orleans Parish since January 2010: There are brief, small dips — they look more dramatic...
I spent some time with the November stats (I’m pretty crazy like that), and while the lack of inventory is getting all of the attention, the story of our real estate market is demand. Buyers are continuing to take advantage of these ridiculous interest rates and absorbing the new listings soon after they hit the...
“Your home is the biggest investment you’ll ever make.” Next to, “Location, location, location…” it’s the most overplayed, old-school real estate cliche there is. It’s also true for most of us, but it’s treated so differently than your other investments. If you have a 401K or any other investment account, you can log into your portal...
The October numbers were finally made available, and this seller’s market is getting even more so. The median sold price in Orleans Parish hit an all-time high of $325,000. Here’s a look at prices over the last 5 years. While the median sold price hit a new high, the median days on market hit...
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...
