It’s been a bumpy and unprecedented First Quarter for the Orleans Parish real estate market. The average sale price for Orleans Parish saw a slight decrease from 2019’s Fourth Quarter, slipping to an average sales price of $371,456 for detached residential homes. Which made the average sale price in First Quarter in 2020 a 4.14% dip from the last Quarter in 2019. Surprisingly, with the onset assault of the coronavirus throughout New Orleans, March provided the area’s highest average sales price to an impressive $395,159.
On the other hand, the median sales price took a slight 1.62% step up from an already positive Fourth Quarter by increasing 1.62% to a medium sales price of $292,333.
January saw the highest square foot per price Orleans Parish has seen, averaging at $197 and an overall average of $195 for the First Quarter.
The average days on market increased in the First Quarter to an average of 61, with March finishing with an average of 63 days on market. January had the highest average with 69 days on market.