The latest pulse on the market predicts that New Orleans housing market is at its peak. There has been a whopping 79 percent increase in unit sales over the past five years according to the UNO/Latter & Blum Economic Outlook & Real Estate Forecast Seminar. As reported by a recent City Business article, the average sales price increased 7.8 percent in 2015, going from $197,300 to $212,610.
If you are thinking about buying or selling in the historic areas of New Orleans, then you've seen this first hand. Just yesterday I did a property valuation for a double shotgun on Henry Clay between Laurel and Tchoup. The property was purchased two and a half years ago and has already achieved an appreciation of close to 25 percent.
According to local real estate experts at the Seminar, the top influences of rising prices in 2015 include consumer confidence, job availability, cost of financing and the national debt.
Call/text/email/tweet me if you are ready to jump in on the action!
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