Central City New Orleans Home Sales
A National Register Historic District, Central City fell into disrepair in the late 1900s, but has seen a resurgence of interest over the last couple of years. Filled with historic architecture and much more affordable than the nearby Lower Garden District, home sales and prices have steadily increased.
Number of Central City Homes Sold
While still not a huge number, single family home sales have increased from 25 sales in 2011 to 44 sales in 2015.
Average Home Prices in Central City
While the actual number of sales may be small, the prices for single family homes have skyrocketed in the last 2 years. Some of this is driven by new construction and complete renovations, which command a higher price than average homes, no matter how historic the properties may be. Looking at the trend of investors scooping up properties to flip, we have to wonder how long it will be before Central City becomes another New Orleans neighborhood that’s out of reach for many home buyers.
Days to Sell in Central City
As sales have increased, the time it takes to sell a home has decreased, dropping to an average of 102 days in 2015.
NOTE: The 2016 average days to sell is at 74 days – a full 25% lower than last year.