The New Orleans Real Estate Talk blog is where I share New Orleans specific real estate advice and info. To search for properties in the greater New Orleans area please visit my property search. By the way I answer my phone and respond to email within minutes not days – promise.
Browse the categories on the side for topics that appeal to you, and as always, thanks for reading, comments are welcome.
Miriam-
So, how does January 2009 compare to January 2012. How has the market changed and in what direction is it going. This is only for single family homes. A snapshot;
2009 17 Sold $426,853 Average Sold Price 146.88 SP/SQ 122 Days on Market 92.59% SP/LP
2010 16 Sold $538,094 Average Sold Price 204.32 SP/SQ 106 Days on Market 95.79% SP/LP
2011 21 Sold $460,129 Average Sold Price 156.56 SP/SQ 64 Days on Market 92.78%SP/LP
2012 18 Sold $383,206 Average Sold Price 156.95 SP/SQ 122 Days on Market 91.11% SP/LP
As of February 5, 2012 there are 113 active single family homes on the market. The absorption rate over the last years shows a slowing of the market. Last June, 2011 the absorption rate for this area was 4.33 months, in September it was 4.6 months and for January, 2012 it is 6.80 months. In June there was a strong seller’s market and the trending is moving to a buyers market. Over 6 months of inventory indicates a buyers market and right now the market is even at 6.8.
The average single family home in this area has 3 bedrooms, 2 bath, 2408 square feet. The average listing price in January, 2012 was $394,699.
An 11 minute video of the what happens when you stop paying your mortgage. This is slightly different state to state and bank to bank but a good overview.
Yesterday the real estate blogosphere became engaged because of a video put together by the Broker of a Real Estate Company in San Diego. I watched the video which impressed me with it’s intensity and conviction and I then started to think through some of the points presented. For those of you who want to…
This past week New Orleans was featured as the most improved city in the nation on the Wall Street Journal MarketWatch’s “Best Cities for Business in 2011” list, a survey looking at over 100 metro areas in the country using 15 different criteria. I sign up to the Mayor’s website and he sent out the…
Yesterday the National Transportation Safety Board issued a statement about using your cell phone while you are driving. They are attempting to get States to pass laws that ban the use of cell phones while driving. Following is the fact sheet from their web site explaining the dangers. In Louisiana there is no law about…
This Saturday, December 10, 2011, we are hosting our 5th “Fight the Blight” Volunteer Day from 9:00am– 1:00pm. This effort is being coordinated through ServeNOLA, the Mayor’s service and volunteerism initiative. Please click here to sign up for Fight the Blight Day. With the holiday season upon us and a slate of…
The City of New Orleans is made up of several different neighborhoods and each has a different profile which makes it impossible to do market reports for the entire area of “New Orleans” and get a clear picture of the housing market. In the Garden District of New Orleans for the month of November 6…
Ten days ago my previous Broker, George Groves, passed away from a long illness. George was a champ and one of the most experienced Broker’s that I have had the privilege to know over the past 20 years. George had been a previous President of the local Board of Realtors among many honors but most…
Last week I closed on a short sale on the West Bank of New Orleans after several months and a very bumpy road. A buyer who didn’t want to match the required price from the bank, a seller who was amazed by the whole process and the things that happened along the way and finally…
A group of entertainers from New Orleans will be participating in the Macy’s Thanksgiving Day Parade tomorrow…this is a group that could only come from New Orleans and they are a hoot. Doctors, lawyers, teachers coming together to form a group called the “610 Stompers“. 610 refers to a highway down here in Louisiana. This…
|
||||||||||||||||||||||||||||||||||||||||
| Designed for real browsers: |  |
 |
 |
 |
Get one today, where fine browsers are given away. | Real Estate Website Design |  |
