"The median list price fell to $324,500 in February, down 7.3% year over year - more than triple the national decline of 2.1%. This price sits well below the national median of $403,450."
"Active listings fell 5.5% year over year to 1,790 in February, bucking a national trend where inventory actually grew 7.9%. New listings dropped even harder - down 8.6% compared to just a 2.4% gain nationally."
"The average New Orleans home spent 93 days on the market in February, indicating that homes are not selling quickly and buyers have leverage in negotiations."
"Only 11.5% of listings took a price cut, compared to 15.5% nationally, suggesting that sellers are coming in with lower asking prices from the start."
In February, New Orleans experienced a decline in home listings, with active listings down 5.5% year over year. New listings fell by 8.6%, indicating fewer sellers entered the market. The median list price decreased to $324,500, a 7.3% drop compared to the previous year. Homes averaged 93 days on the market, suggesting buyers have significant negotiating power. Sellers are pricing homes more realistically from the start, with only 11.5% of listings taking price cuts.
Read at SFGATE
Unable to calculate read time
Collection
[
|
...
]