Steady as she goes! Those interested in buying a home on the west bank of St. John or St. James will find a stable, healthy Real Estate market with slightly appreciating sales prices and a balanced supply and demand marketplace. The family-friendly atmosphere and proximity to metropolitan New Orleans and our state capital continue to make this a sought-after locale with availability of homes at various price ranges.
Overall inventory of single-family homes was slightly greater at 4.6 months in January 2017, compared to 4.5 months in January 2016. However, buyers will find the market more competitive for homes priced below $200,000 where inventory is 3.4 months as of January 2017.
Average sold price was up 2% in January 2017, compared to January 2016, and up 10% in the current quarter compared to the same quarter one year ago. Homes sold for 95% of original asking price.
The LaPlace and Gramercy markets offer sound Real Estate investment opportunities as well as a comfortable lifestyle with good school districts and access to job markets in two major metropolitan centers. With an average price per square foot sold of $80 versus $148 in Orleans Parish in January 2017, St. Charles Parish offers significantly more housing “bang for your buck.”