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 April 2023
At the same time last year, Lower Ninth Ward was a Seller's Market.
Key Takeaway
Lower Ninth Ward is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lower Ninth Ward, LA
How much do homes in Lower Ninth Ward, LA cost?
Median Sold Price
$175,000
$124/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lower Ninth Ward have sold for 2.5% less than they did a year ago.
Summary: The median home sold price in Lower Ninth Ward was $175,000 in April 2024, down 2.5% from last year, and the median price per square foot was $124.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $117.9K | $206.7K | +75.4% |
| 3 Bedrooms | $174.5K | $146.9K | -15.8% |
| 4 Bedrooms | $175K | $167.4K | -4.3% |
| 5+ Bedrooms | $245K | $335K | +36.7% |
Summary: Lower Ninth Ward 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 75.4%, 3 bedroom homes decreased by 15.8%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 36.7%.
Median Sold Price Compared To Nearby Neighborhoods
| New Orleans East Area | $192K | $194.9K | +1.5% |
| Lower Ninth Ward | $179.4K | $175K | -2.5% |
Housing Supply in Lower Ninth Ward, LA
How many homes are available in Lower Ninth Ward, LA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 48 | 50 | +4.2% |
Summary: The Lower Ninth Ward real estate market had 50 homes for sale in April 2024, a 4.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 17 | 19 | +11.8% |
| 4 Bedrooms | 11 | 12 | +9.1% |
| 5+ Bedrooms | 17 | 14 | -17.6% |
Summary: The Lower Ninth Ward housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes decreased by 17.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 2 | -77.8% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lower Ninth Ward, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Lower Ninth Ward in April 2024, down by 77.8% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 48 Days | 152 Days | +212.5% |
Summary: Homes in Lower Ninth Ward had an average of 152 days on market in Apr 2024, up by 212.5% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Lower Ninth Ward are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 2 homes were sold in Lower Ninth Ward; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
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