Is New Orleans East Area, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, New Orleans East Area was a Seller's Market.
Key Takeaway
New Orleans East Area is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in New Orleans East Area, LA
How much do homes in New Orleans East Area, LA cost?
Median Sold Price
$194,950
$106/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in New Orleans East Area have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in New Orleans East Area was $194,950 in April 2024, up 1.5% from last year, and the median price per square foot was $106.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $53.5K | - | N/A |
| 2 Bedrooms | $80K | $104.5K | +30.6% |
| 3 Bedrooms | $177.7K | $179.5K | +1.0% |
| 4 Bedrooms | $240K | $210K | -12.5% |
| 5+ Bedrooms | $215.5K | $230K | +6.7% |
Summary: New Orleans East Area housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 30.6%, 3 bedroom homes increased by 1%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes increased by 6.7%.
Median Sold Price Compared To Nearby Neighborhoods
| New Orleans East Area | $192K | $194.9K | +1.5% |
| Little Woods | $195K | $195K | 0.0% |
| Village De L'Est | $166.5K | $160K | -3.9% |
| West Lake Forest | $213K | $136.7K | -35.8% |
Housing Supply in New Orleans East Area, LA
How many homes are available in New Orleans East Area, LA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 248 | 269 | +8.5% |
Summary: The New Orleans East Area real estate market had 269 homes for sale in April 2024, a 8.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 16 | 21 | +31.3% |
| 3 Bedrooms | 126 | 134 | +6.3% |
| 4 Bedrooms | 71 | 75 | +5.6% |
| 5+ Bedrooms | 34 | 38 | +11.8% |
Summary: The New Orleans East Area housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 31.3%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 11.8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 32 | 21 | -34.4% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Orleans East Area, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in New Orleans East Area in April 2024, down by 34.4% month-over-month. Of the 21 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.
Days on Market for New Orleans East Area, LA
How long does it take to sell a home in New Orleans East Area, LA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 61 Days | 122 Days | +99.9% |
Summary: Homes in New Orleans East Area had an average of 122 days on market in Apr 2024, up by 99.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Orleans East Area are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 21 homes were sold in New Orleans East Area; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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