"In December, New Orleans saw its active listing count at 1,829, a 6.6% decrease from the previous year. This drop in inventory set the city apart from the national scene, where active listings rose by 12.1%. With newly listed homes also dipping by 2.9% year-over-year to 266, the inventory tightened, creating an exclusive market atmosphere and sparking interest for buyers looking for distinct opportunities."
"The median listing price in New Orleans fell to $325,000, marking a significant 7.1% decrease from last year. This drop was notably more pronounced than the national decrease of just 0.6%. Despite the reduced prices, the share of listings with price reductions was 10.2%, slightly down by 0.7 percentage points from last year. Homes in New Orleans spent a median of 87 days on the market in December, a slight improvement from the previous year, with a 1.1% decrease in days on market."
New Orleans experienced tighter inventory and lower median prices in December. Active listings totaled 1,829, a 6.6% year-over-year decrease, while newly listed homes fell 2.9% to 266. The national market saw active listings rise 12.1% in contrast. The median listing price dropped to $325,000, a 7.1% decline compared with a 0.6% national decrease. Listings with price reductions comprised 10.2%, down 0.7 percentage points. Homes spent a median of 87 days on market, a 1.1% improvement yet longer than the national 73 days, creating selective buying conditions and potential opportunities.
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