12 month period: Feb – Jan, Year-Over-Year Comparison
Home to the Abita Springs Opry, Trailhead Museum, Abita Art & Farmers Market, local festivals and a famed brewery that bears its name, the bedroom community of Abita Springs has much to offer visitors and residents, alike.
On average, single-family homes in Abita Springs sold for $118 per square foot over the previous 12 months (Feb 2016 – Jan 2017) – that’s about 25% lower than in Orleans Parish, offering significantly more “bang for your buck” in square footage. Homes sold for an average of $262,000 during the period, and average price per square foot sold increased 7%. With 6 months of inventory, buyers have more selection and potential negotiating room than in the year prior.
Properties are also spending more time on the market, which can eventually place downward pressure on prices. However, buyers can expect much competition at certain price ranges: homes priced below $200,000 have only 2.5 months of inventory remaining as of January 2017.
Buyers interested in purchasing in Abita Springs now have more selection to choose from and more time to consider properties after they come onto the market. With sustained price appreciation and homes selling at 95% of asking price or more, Abita Springs presents a good investment opportunity for home buyers.