No Real Estate Recession in Uptown New Orleans

Here’s the first chart I will be presenting a client soon. It shows a steady increase in prices (in terms of $/SF) within 0.5 miles of her property through the  90’s and through 2006.  Price did fall for a few years, but bottomed in 2009 and started another period of increase. In fact, the average price so far in 2011 is above the 2006 record.

This also demonstrates the reason buyers should buy now or as soon as they can qualify. Home ownership is the most practical way for the average American to build wealth.  In the above sample, a seller today would have doubled their money if they bought only 11 years ago.

This chart is a broad starting point to pricing a client’s house. We will focus on lot size, parking, proximity to commercial corridors, architectural appeal, and various other factors that buyers of Uptown New Orleans real estate buyers consider valuable.  We’ll make sure she doesn’t leave money on the table while selling her house in the shortest reasonable time.

If you want to buy or sell real estate in New Orleans, ignore the national media or you’ll miss a great opportunity.  All real estate is local so you need focused analysis and great technology to find the best deals.

* Please do not rely on the above chart to price your property.  It is just one piece of a puzzle and the data is not guaranteed.