New Orleans French Quarter Condos
Most of the Units are Second Homes
The vast majority of condos of owners in the French Quarter buy their units as second homes. The condos tend to be smaller and 90% do not have parking. They are second homes for individuals, couples and families. The owners share with family members, kids and friends.
The rate of turnover is not as great as second homers hang on to their condos for a longer period of time. They have no need to move. Over the years we see people spending more time at their place when they retire. They may live in several places.
The other trend that I have seen is that many buyers do not live that far away. Baton Rouge, Lafayette, Northshore, Mobile, Houston, Dallas, and even metro New Orleans. This trend is alive and well. The French Quarter makes a great weekend getaway for many locals.
Many Condo Buyers Look in
Adjacent New Orleans Neighborhoods
Near The French Quarter
A Lot of buyers decide to look in nearby neighborhoods as the condos are cheaper and many will have parking and amenties. Many in the Warehouse District are within walking distance of the French Quarter. The same type of condos could be found in the Marigny and the Bywater. Many would still want to stay in the French Quarter but 50% would like to look in the other nearby neighborhoods. We know a lot about all the neighborhoods and the things that many buyers may like.