Multi-Family Home Sales in Central City, New Orleans
Number of Multi-Family Homes Sold
Multi-family home sales in Central City are surpassing those of single family homes in the area, with 53 properties sold in 2015, compared to 44 single family properties.
Average Central City Multi-Family Sale Prices
37% of the multi-family properties sold in Central City last year were in Fair or Poor condition, which is reflected in the average sales prices of doubles and 3-plexes (doubles are the most common type of multi-family real estate in the neighborhood). 2015 sold prices for doubles ranged from a low of $24,000 to a high of $346,800.
Average Days to Sell
After peaking at 151 days to sell in 2013, Central City investment and multi-family properties hit the radar of both investors and do-it-yourselfers and ended 2015 at 86 average days to sell in 2015. As of March 10, 2016, that average time to sell has dipped to only 42 days.