Is French Quarter, LA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing French Quarter is a buyer's market

Buyer's
Market

Difference Since March 2023

At the same time last year, French Quarter was a Seller's Market.

Key Takeaway

French Quarter is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in French Quarter, LA

How much do homes in French Quarter, LA cost?

Median Sold Price

$455,000

$434/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$30,000(+7.1%)

Key Takeaway

Homes in French Quarter have sold for 7.1% more than they did a year ago.

Summary: The median home sold price in French Quarter was $455,000 in March 2024, up 7.1% from last year, and the median price per square foot was $434.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $324.5K$315K
-2.9%
2 $524.5K$486K
-7.3%
3 $680K$1.3M
+98.5%
4 $556.2K$553.9K
-0.4%
5+ $721.5K$713.5K
-1.1%

Summary: French Quarter housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.9%, 2 bedroom homes decreased by 7.3%, 3 bedroom homes increased by 98.5%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes decreased by 1.1%.

Median Sold Price Compared To Nearby Neighborhoods

French Quarter
+7.1%
Central Business District
+1.7%
Treme
-13.2%
Marigny
-14.4%

Housing Supply in French Quarter, LA

How many homes are available in French Quarter, LA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
123139+13.0%

Summary: The French Quarter real estate market had 139 homes for sale in March 2024, a 13.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 3743
+16.2%
2 3037
+23.3%
3 2222
0.0%
4 1416
+14.3%
5+ 2021
+5.0%

Summary: The French Quarter housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.2%, 2 bedroom homes increased by 23.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 5%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
74-42.9%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in French Quarter, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in French Quarter in March 2024, down by 42.9% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.

Days on Market for French Quarter, LA

How long does it take to sell a home in French Quarter, LA?

Average Sale Time

Mar 2023Mar 2024CHANGE
92 Days52 Days-43.8%

Summary: Homes in French Quarter had an average of 52 days on market in Mar 2024, down by 43.8% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in French Quarter has remained consistent over time.

Summary: During March 2024, 4 homes were sold in French Quarter; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

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