The chart above is for Orleans Parish which includes a very large area including New Orleans and an area on the West Bank. It includes over 70 different neighborhoods with different profiles and price points and is for single family homes. This entire area is part of the Gulf South Real Estate Information Network known as GSREIN (his rein).
The chart is for the past 15 months and the light green bars show the number of houses on the market and the dark green bars show the number of sales.
There were 1260 single family homes for sale in December, 2012 compared to 1535 homes for sale in December, 2011 for a 17.9% decrease in available inventory. 169 homes sold in December, 2012 compared to 154 homes sold in December, 2011 for an increase of 9.7%. Of the pended homes (ready to close) there were 151 in December, 2012 compared to 157 in december, 2011 for a decrease of 3.8%.
This tells us that the inventory is low but more homes are selling…
* All reports are published January 2013, based on data available at the end of December 2012. All reports presented are based on data supplied by the New Orleans Metropolitan Association of Realtors or their MLS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.