Royal Street Walk, Lots of Historic BuildingsJuly 4, 2018
French Quarter Condo Prices
Trending Down for Almost 2 Years
Prices have been drifting down in the last 2 years as there have been fewer buyers looking for places. The same has happened in the New Orleans Warehouse District. The status now is more level. There are still fewer buyers and fewer sellers. There are some good buys when sellers need to sell their units. You have seen many sellers want to rent their condos to pay for their taxes and fees. That is why there are a lot of rentals in the French Quarter of New Orleans.
There are about 50 units below 400k for sale. There are 34 units priced in the 400-600 range. There are 34 units between 600k and One Million. I would say about half are priced right.
Many of the buyers have been buying in adjacent neighborhoods where you get more for your money. There are not a lot for sale in the Marigny and Bywater for sale in the prices below 500k. There are more new construction and conversions at higher prices.