Is Lower Ninth Ward, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Lower Ninth Ward has remained a Seller's Market.
Housing Prices in Lower Ninth Ward, LA
How much do homes in Lower Ninth Ward, LA cost?
Median Sold Price
$172,500
$122/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lower Ninth Ward was $172,500 in March 2024, down 10.7% from last year, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $175.5K | $181.5K | +3.4% |
3 Bedrooms | $174.5K | $137.5K | -21.2% |
4 Bedrooms | $189.2K | $164.9K | -12.8% |
5+ Bedrooms | $235K | $335K | +42.6% |
Summary: Lower Ninth Ward housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.4%, 3 bedroom homes decreased by 21.2%, 4 bedroom homes decreased by 12.8%, and 5+ bedroom homes increased by 42.6%.
Median Sold Price Compared To Nearby Neighborhoods
New Orleans East Area | $197K | $192K | -2.5% |
Lower Ninth Ward | $193.2K | $172.5K | -10.7% |
Housing Supply in Lower Ninth Ward, LA
How many homes are available in Lower Ninth Ward, LA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
46 | 48 | +4.3% |
Summary: The Lower Ninth Ward real estate market had 48 homes for sale in March 2024, a 4.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 2 | 0.0% |
3 Bedrooms | 17 | 17 | 0.0% |
4 Bedrooms | 11 | 12 | +9.1% |
5+ Bedrooms | 16 | 17 | +6.3% |
Summary: The Lower Ninth Ward housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 6.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3 | 9 | +200.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Lower Ninth Ward in March 2024, up by 200.0% month-over-month. Of the 9 sold homes, 78% were sold under asking, 22% were sold at asking, and 0% were sold over asking.
Days on Market for Lower Ninth Ward, LA
How long does it take to sell a home in Lower Ninth Ward, LA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
85 Days | 93 Days | +9.5% |
Summary: Homes in Lower Ninth Ward had an average of 93 days on market in Mar 2024, up by 9.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 9 homes were sold in Lower Ninth Ward; 33% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 44% of homes were sold over 90 days.