7 Days in New Orleans Real Estate – July 2018

New Orleans real estate update

Since we’re almost half way through July, let’s take a look at what’s happening in the New Orleans real estate market.

It’s been a busy week, with 121 new listings for sale, 33 houses back on the market, 74 homes sold, and offers accepted on 116 properties.

new orleans real estate

Some details

High sale price:  1331 Philip Street in the Garden District sold for $1,725,000
Low sale price:   4819 Warren Drive in New Orleans East sold for $29,000

Most affordable new listing:  4313 Woodland Drive, a townhouse in Algiers
Most expensive new listing:  18 Richmond Place, a single family home Uptown

Of the homes that came back on the market, 27% were in Gentilly. Remember, homes come back on the market for a number of reasons, ranging from inspection results to failed financing. Don’t assume that a house that is back on the market for a negative reason, because that might not be the case!

164 properties had a price reduction in the last week. The largest number of price changes were in the following areas:

  • 70115 (Uptown) = 23
  • 70122 (Gentilly) = 21
  • 70114 + 70131 (Algiers) = 18
  • 70117 (Bywater/Holy Cross/St Claude) = 17

 

Need help buying or selling your New Orleans home? Call us today at 504-327-5303.