Uptown New Orleans Real Estate Trends
Average single family home list prices in the 70118 zip code have shot up from $379,112 in 4Q12 to $667,974 1Q14. This is interesting given that both average and median sale prices have been declining over the past 3 quarters as seen below.
At the end of March 2014, the average sale price of a single family home in the 70118 zip code was down 23% from the end of 2013.
After an end of summer slump in available homes, the spring market in the 70118 zip code has gained momentum, with 55 homes currently for sale. What sellers need to keep in mind is that the average home has been on the market for 105 days, while sold homes were on the market for an average of just 56 days. Pricing, no matter what part of the market you are in, plays a factor in the time it will take to sell your home.
Active listings: 55
Average list price: $308,674
Median list price: $169,900
Pending listings (typically still in inspection period): 24
Average list price: $716,617
Median list price: $388,500
Under contract listings: 21
Average list price: $564,300
Median list price: $349,000
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