The prices in real estate in New Orleans, in the Louisiana region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per sq.feet in New Orleans has increased during the last 6 months. In September, the average price per sq.feet was $224. In October this price pretty much remained the same at a value of $228 per sq.feet. In the following two months the price per sq.feet has increased 112 %, going from $226 to $253 per sq.feet. The price per sq.feet has increased 107 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $239.5 to $255.5 during January, and February.
Based upon to the price in New Orleans (cities), this has gone up considerably in the last 6 months. The price in September is $465,600, rising in October till $506,998. During the following two months (November, December) the price has had an average incrementation from $486,299 to $557,384. Based on an analysis of the first four prices and the last two months the average price has gone up 106 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $568,119 they are 52 % more affordable than the average price for New Orleans. The properties with the lowest average price have 4 bedrooms, Their price is 10 % cheaper than the average. After that we have properties with 3 bedrooms priced at $400,766.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $195 / sq.feet, with an average $254 / sq.feet price in New Orleans. The properties with the highest average prices have 1 bedroom. They are 53 % more expensive than the average followed by properties with 2 bedrooms with a price at $318 / sq.feet.
The graph displaying the average prices displays the property type "Villa" as the most affordable one. At an cost of $568,119 it is 0 % cheaper than the average price in New Orleans. "Office" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Condo". At a price of $1,020,257 it is 245 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Office" at an average cost of $250 / sq.feet followed by "Townhouse" priced at $266 / sq.feet. "Condo" is the most costly type of property with a $573 / sq.feet cost followed by "Villa" with an average price of $350 / sq.feet.