New Orleans
Below, we’ll offer insights into the New Orleans metropolitan area, highlighting upcoming summer events, the most appealing neighborhoods, and a detailed overview of the real estate market.
Summer Events and Activities
The French Quarter, the heart and soul of NOLA, is lined with picturesque buildings and offers guided walking tours, art galleries, markets, delightful boutiques, and much more. New Orleans also hosts a variety of dynamic events that appeal to all ages and interests. Let’s take a look at a few scheduled for this summer:
Tales of the Cocktail: From July 21st to July 26th, this internationally renowned cocktail festival features seminars, tastings, and networking events for cocktail enthusiasts and professionals.
Satchmo SummerFest: Taking place August 3rd and 4th in the French Quarter, Satchmo SummerFest annually celebrates the legacy of Louis Armstrong with live jazz music, lectures, and great food.
SUBSCRIBE TO THE HAVEN MAILING LIST
Curated homes, market intelligence and design stories — a few emails a month.
No spam. Unsubscribe any time.
Premier Neighborhoods
In the New Orleans metro area, Lake Terrace & Oaks, East Riverside, and East Carrollton stand out as exceptional communities to put down roots.
Lake Terrace & Oaks is a lovely community featuring a large marina, cozy restaurants, and several parks and green spaces. Its real estate scene is very competitive. In May, Redfin reported a median home sale price of $470,000, reflecting a 6.8% year-over-year increase, with the average homes pending in approximately 10 days.
East Riverside, located in the Uptown area, presents historic homes and a vibrant community atmosphere, with an abundance of live music venues, exquisite dining options, and a variety of breweries. In May, Redfin reported a median sale price of $530,000, with homes typically pending in about 76 days.
East Carrollton is a trendy neighborhood known for its restaurants, local shops, and charming residential atmosphere. This area offers a mix of historic homes, bungalows, and larger residences, often appealing to professionals, families, and academics due to its proximity to Tulane University and Loyola University. According to Redfin data from May, East Carrollton homes sold for a median price of $643,000, going pending in about 117 days on average.
NOLA Real Estate Compared to the United States
The New Orleans area boasts a median sale price of $359,000, which is 16% below the national average. As of May, the market is not highly competitive, with the percentage of homes sold above the listing price seeing a 3.3% year-over-year decline to 10.5%.
