The prices in real estate in New Orleans, in the Louisiana region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per sq.feet in New Orleans has fallen in the last 6 months. In February, the average price per sq.feet was $313. In March this price pretty much remained the same at a value of $327 per sq.feet. The price for the following two months in (April, May) decreased 91 % with regard to the prior two months. The price per sq.feet has had a considerable deflation of 83 % 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 $306 to $253.5 during June, and July.
Based upon to the price in New Orleans (cities), this has gone downing the last 6 months. The average price for February is $853,332. During March the price had a slight fall till $792,045. In the following two months the average price has remained the same with regard to the previous two months from $822,688.5 to $811,120. During the last two months the average price has had a strong fall compared to the previous four going from $816,904.25 to $635,099, which means a 78 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $431,361 they are 45 % more affordable than the average price for New Orleans. The properties with the highest average price have 4 bedrooms, Their price is 41 % more costly than the average. After that we have properties with 3 bedrooms priced at $470,904.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $193 / sq.feet, with an average $213 / sq.feet price in New Orleans. The properties with the highest average prices have 1 bedroom. They are 46 % more expensive than the average followed by properties with 3 bedrooms with a price at $208 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most costly one. At an cost of $431,361 it is 4 % more expensive than the average price in New Orleans. "Villa" is seen as the second dearest property type. The dearest property type is "House" followed by "Office". At a price of $652,308 it is 78 % more expensive than the average price.
According to the average cost per sq.feet, the most expensive property type would be "Office" at an average cost of $257 / sq.feet followed by "House" priced at $281 / sq.feet. "Condo" is the most costly type of property with a $386 / sq.feet cost followed by "Townhouse" with an average price of $362 / sq.feet.