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Buying and Selling in the Metropolitan New Orleans Area

Housing Market Report

Its a Buyer's Market

Following a robust seller's market last year, that saw record home sales in 1999, the number of units sold this year is down 6% as compared with the same period last year. The stats have been supplied by the Gulf South Real Estate Information Network staff. Housing starts have dipped and the average price of area homes sold has risen a modest 3% compared to the 6.5 % annual appreciation rates seen in the 1990's. The low numbers are accounted for by uncertainty about the stock market and politics causing an erosion in home buyers' confidence in the economy. Although trends in the metropolitan area differ from area to area, sales are down in most parishes even though the number of homes put on the market is about the same as in this period in 1999.

EAST JEFFERSON PARISH

YEAR NEW SOLD AVG SOLDS$ VOLUME
1999YTD24371616173,073 279,166,363
2000YTD25131389179,893249,331,554

WEST JEFFERSON PARISH

YEAR NEW SOLD AVG SOLDS$ VOLUME
1999YTD1672110596,775106,743,330
2000YTD1775119898,057116,687,758

ORLEANS

YEARNEWSOLDAVG SOLDS$VOLUME
1999YTD29721875143,350277,492,025
200YTD26331743158,513273,276,446

For more information about your particular area please e-mail me SELLING METAIRIE ONE HOUSE AT A TIME!

Lois Shofstahl Realtor, GRI

Phone
(504) 456-3522 x117
Fax
(504) 833-4239
Mobile
(504) 813-7871
Pager
(504) 538-2382

Email Me

Coldwell Banker TEC Realtors, Inc.

4051 Veterans Blvd. Suite 101
Metairie, LA 70002

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