How Long Is It Taking NOLA Homes to Sell?

New Orleans Home Sales by Zip Code

The perception by many buyers is that they are losing out on homes in some of the most popular New Orleans neighborhoods. My gut told me that there are a few hot spots that have seen a dramatic change in the real estate market, so I grabbed the zip code data for the areas that we’ve been working in the most and broke out the New Orleans home sales by zip code.

The big winners in sales? 70118 (Uptown/Carrollton area) and 70122 (Gentilly/UNO area) both posted massive gains in the number of sales when comparing year to date 2013 to 2012.

The winners in dollars sold? 70130 (Warehouse District/Lower Garden District) saw a whopping 40% increase in average sale prices. Remember, this is for single family homes only – we will put together information on condos shortly. Right behind the LGD was zip 70116, encompassing the French Quarter and bleeding over Esplanade into the Marigny, with a 30.93% increase in prices.

There were a few spots with a decline in the number of sales, but that was offset by rising prices in each of those areas. Days on market dropped in 50% of the zips we reviewed, meaning faster closings for sellers.

Here’s the entire breakdown, in zip code order

New Orleans Home Sales by Zip Code August 2013

Data provided by GSREIN and is deemed reliable, but not guaranteed

Don’t see your zip? Want the skinny on sales just in your neighborhood? Just give us a call at 504-327-5303 or drop us a line with the details on your home and we’ll be happy to put together a personal, custom market analysis for you.

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