The French Quarter real estate market is always in flux, and the last 12 months haven’t been any different.
The quick story
Median sold prices jump around like crazy because the number of sales each month is small. When there are $1,000,000+ properties that sell at the same time as more affordable real estate, it makes it difficult to sort out trends.
- The median sold price for condos for the last 12 months has remained below $400,000
- The median sold price for single-family homes has remained above $500,000
What we do know is that there are significantly more properties on the market than there are buyers right now, evidenced by the months of inventory that consistently remains well above a 6 month balanced market.
Buyers have the upper hand in the French Quarter real estate market, with about 150 homes/condos to choose from each month, while only a handful of them sell.
Have a question about buying or selling in the Quarter? Call us today at 504-327-5303.
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