Residential Real Estate In New Orleans

According to market statistics provided by NOMAR, New Orleans Metropolitan Association of REALTORS, residential property in Orleans Parish is still holding strong. Total sales from January 2015 are nearly the same as they were a year ago. Average sale price is stable as compared to last year. The average DOM (days on market) have increased by 20% and the total volume is down, just slightly. This minor downturn can be common in the beginning of the year, especially when we celebrate an early Mardi Gras. The last quarter of 2014 showed increases across the board and I think that the next few months will continue to grow.