NeighborhoodX just released its New Orleans Neighborhood Pricing Report for June 2017.
The study looks at market-rate properties in neighborhoods across the city. As a result, the analysis excludes foreclosures and short sales, as well as properties primarily positioned as development sites as well as certain listings with incomplete or contradictory information.
The report uses price per square foot rather than median listing price, in order to provide a basis for comparison among the neighborhoods of the city.
"Median selling price is a more common metric, but it doesn't take into comparison the different types of properties in different areas - it might offer skewed results because one neighborhood has smaller properties compared to another one," said Constantine A. Valhouli, Director of Research for NeighborhoodX.
With this in mind, the overall price range for the neighborhoods in this analysis (which does not include all of the city) is $40-999 per square foot.
"On one end, this represents the lowest-priced market-rate property in Little Woods that was not a short sale, foreclosure, development site, or in need of total rehab," said Valhouli. "At the other end, it represented the most expensive property for sale in the Central Business District."
It is worth noting that the upper end of the price range in the CBD is higher than that in the French Quarter right now.
Readers can mouse over individual chart bars for further information.
For market commentary or for data regarding a story, please contact us at (917) 447-8800.
© 2012-2017 NeighborhoodX Corp. All rights reserved.
All information regarding property for sale, rental, exchange, or financing, as well as data regarding neighborhoods, boundaries, zoning, transit, historic districts, public housing, and analytics derived from any of these sources, is from sources deemed reliable but is subject to errors, omissions, changes in price, prior sale, rental, or withdrawal without notice. Please see Terms of Service for additional restrictions.
All square footage dimensions are approximate. For exact dimensions, you must retain the services of an architect or engineer. The number of rooms and bedrooms listed should not be considered a legal conclusion. Each person should consult with his/her own attorney, architect or zoning expert to make a determination as to the number of rooms in the unit that may be legally used as a bedroom. Nothing herein shall constitute an offer or solicitation with respect to the purchase or sale of any property in any jurisdiction in which such offer or solicitation is not authorized or to any person to whom it would be unlawful to make an offer or solicitation.
A trademark can be a word, phrase, symbol, or design that distinguishes the source of the goods or services.
The NeighborhoodX name and logo are registered trademarks of NeighborhoodX Corp.
The following is a non-exhaustive list of NeighborhoodX's trademarks and service marks. The absence of a trademark from this list does not constitute a waiver of NeighborhoodX's trademark or other intellectual property rights concerning that name or logo.
A SALE OF TWO CITIES
HOMES IN THE RANGE
REAL ESTATE REGRETS
NEIGHBORHOODX