Warehouse District Condo Sales
The Warehouse District condo market is heating up to the point that we are ready to call it a seller’s market.
Terri recently had 3 showings scheduled in the Warehouse District for a well qualified buyer. Unfortunately, when she called to confirm the appointments, every single one of them had accepted other offers before her buyer was able to see them. Given how quickly the average units are selling, I’m not surprised that an out of town buyer is having this problem.
2012 Warehouse District Condo Market
This year, there have been a total of 160 condos sold in the Warehouse District/Downtown areas. Ranging in price from $123,000 to $2,750,000, it’s a widely ranging market, but one that is moving better than many other areas in New Orleans.
- Average sale price: $365,951, up from $363,136 in 2011
- Average days on market: 13, down from 18 in 2011
In 2011, there were a total of 120 units sold. With current sales already surpassing that number by 30%, I expect that we will see continued price increases in 2013.
Warehouse District Condos for Sale