“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 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....
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...
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...
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...
