Lower Garden District New Orleans Real Estate Update

    Lower Garden District New Orleans

    It’s been a minute since we took a look at home prices and trends in the LGD. A snapshot of the statistics shows us a few stand out things to know.

    Home Prices in the Lower Garden District New Orleans

    In May 2017, the average sold price was $507,946. As of 5/24/18, the average sold price currently stands at $410,889. That’s a significant change in sales prices, but we know that the market is varied with both luxury sales and more affordable properties. Those differences make for a fluctuating series of prices that can be hard to interpret.

    High 2018 sales price: 1351 Magazine Street • 5 beds, 3.5 baths • $1,105,000

    Low 2018 sales price: 1020 Terpsichore St, Unit A • 2 beds, 1 bath • $160,000

    SEARCH ALL LOWER GARDEN DISTRICT HOMES FOR SALE

    lower garden district new orleans

    Days on Market

    We’re seeing a definite trend in longer days on market. That’s probably tied to the fact that asking prices have increased by over $15,000 on average since last year. As of the end of April 2018, it’s taking about 81 days to sell a Lower Garden District home.

    Market Insights

    With over 70 homes and condos for sale right now, and an average of 8 to 9 units selling each month, it has moved to a buyers market in the neighborhood. That can quickly shift, but for now there are more homes for sale than there are buyers.

     

    Can we help you buy or sell your Lower Garden District home?
    Call us today at 504-327-5303. 

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    About our blog

    Our agents write often to give you the latest insights on owning a home or property in the Greater New Orleans area.