New Orleans Real Estate Market at a Glance
• Average single family home prices are up significantly from one year ago
• Year to date real estate sales are up 13% even though the number of homes sold has decreased slightly
• Days on market is creeping up, but that’s a normal occurrence during the 4th quarter
• There is currently a 6 month supply of homes for sale, an indication of a balanced real estate market that favors neither buyer or seller. However, that supply varies from neighborhood to neighborhood, with some areas firmly a seller’s market due to supply and demand.