Mardi Gras and St. Patrick’s Day parades filled the streets a few weeks ago, and a slate of festivals are back on schedule after a two-year hiatus. This means we’ve entered the traditional spring housing market here in New Orleans.
While inflation and rising interest rates are being closely watched, the local housing market remains robust and active.
Within the New Orleans and Jefferson Parish East Bank areas, we’ve seen 10% increases in average sales prices and 32% decreases in homes for sale, while the volume of closed sales remains steady over the previous year.
– Marty Brantley, Engel & Völkers