Holy Cross Home Sales New Orleans LA

A 10 Year Review of Holy Cross Home Sales in New Orleans

If there’s a neighborhood in New Orleans that can be considered the next hot thing, you should be thinking Holy Cross. We took a look at the Holy Cross home sales for the last 10 years and the increase in both popularity and prices are nothing short of amazing for a neighborhood that was underwater in 2005.

Average Holy Cross Home Sales Prices

The years post-Katrina were, of course, hard on prices. But, as the cost of living in the sliver by the river rose, buyers began to expand their searches and Holy Cross started a comeback.

Prices slowly increased from 2012 to 2015, and this year appears to be the beginning of a much bigger resurgence in the neighborhood. The 2016 average sale price of $173,761 is a whopping 26.5% higher than just last year.

Holy Cross home sales New Orleans LA

Supply and Demand in Holy Cross

As prices have risen, the inventory and how long it takes to sell a home have moved around. Supply and demand have fluctuated from a buyer’s market to a seller’s market back to a buyer’s market. As of August 2016, we’ve landed on a fairly balanced market. That said, the time it takes to sell a Holy Cross home has averaged less than 60 days in every month but one this year, even as prices have risen. This is a strong indicator that sales should continue to hold pace through the end of the year.

holy cross home sales new orleans la

Key sales stats for 2016

• Low sales price:  617 Forstall St  $49,000  Sold 2/29/2016

• High sale price:  6232 Dauphine St  $489,000  Sold 4/14/2016

• Average home sold had 3 bedrooms, 2 baths and 1,510 square feet of living area

• Average days on market is 51

 

Need help buying or selling in Holy Cross? Call us today at 504-327-5303.

 


 

 

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