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New Orleans Housing Stats

By Nick Galiano

Real Estate Broker/Owner with Nick Galiano Realty

June 10, 2013 06:26 AM

This week we are going to take a look st some interesting housing stats for New Orleans East Bank over the last six months. This includes all properties (single family, multi-family, vacant land & condos) in all conditions (excellent to poor) over that time period.

Here's how homes were bought.

42% - conventional loans
41% - cash
10% - FHA loan
1% - VA loan
.005% - Bond for Deed
.005% - Owner Financing
The graph below shows the quantity of homes sold in a given price range along with the days on market.
Price RangeQuantityAverage DOM SummaryList PriceSale Price$49,999 or under High $50,000 - $74,999 Low $75,000 - $99,999 Average $100,000 - $119,999 Median $120,000 - $139,999 $140,000 - $159,999 $160,000 - $179,999 $180,000 - $199,999 $200,000 - $249,999 $250,000 - $299,999 $300,000 - $399,999 $400,000 - $499,999 $500,000 - $749,999 $750,000 - $999,999 $1,000,000 or over Total

294	160.69	$2,995,000	$2,555,000
121	114.85	$3,500	$0
93	110.1	$270,971	$256,819
72	133.07	$199,000	$190,000
101	133.78
101	117.8
89	87.55
77	66.52
178	83.3
150	77.61
217	65.81
139	74.69
132	75.3
39	79.54
40	88.73
1,843	101.47

The chart below shows the number of listings and when sold. A remarkable 40% of all listings sell within the first 30 days.

0-30 Days31-60 Days61-90 Days91-120 DaysNo. of Listings Breakdown % Avg % SP/LP

745	290	188	119
40.42%	15.74%	10.2%	6.46%
97.27%	92.78%	92.78%	90.65%

The average sales price over the last six months:

Dec. 2012 - $246,190
Jan. 2013 - $255,316
Feb. 2013 - $267,575
Mar. 2013 - $281, 865
Apr. 2013 - $286,339
May 2013 - $294,379

As you can see, the average price of properties continues to increase in value every month. I always find housing stats pretty interesting and the New Orleans market continues to go up and up.

Please join us for our next blog installment on Monday, June 17, 2013
Please view our neighborhood market data on Thursday, June 13, 2013

Your source for New Orleans Real Estate

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