"Home prices in New Orleans Typically, home price per square foot in New Orleans tend to rise in October. And the most recent data shows that the price per square foot remained practically unchanged compared with the month before. So, how does this compare with the rest of the U.S? Nationally, home price per square foot decreased 0.8%, which means price changes in the Big Easy are outpacing the national market."
"In October, there were 1,888 homes for sale in New Orleans, which was 1.6% more than the month before and 7.7% less than the same time last year. Meanwhile, active inventory across the nation remained practically unchanged from last month to 1,100,001. Time on market Homes in New Orleans take an average of 84 days to sell, according to October figures. This is seven days less than the previous month and the same as the same month last year."
Median listing price in New Orleans was $329,000 in October, a slight month-over-month decline. Listings on the market increased 1.6% from the prior month, a typical seasonal rise, while active inventory totaled 1,888 homes, down 7.7% year-over-year. Price per square foot in New Orleans remained essentially unchanged month-over-month, whereas the national price per square foot decreased 0.8%, indicating New Orleans outpaced the national change. Homes in New Orleans averaged 84 days on market in October, seven days fewer than the previous month and equal to the same month last year; nationally the average was 63 days.
Read at SFGATE
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