Plaquemines Parish, specifically Belle Chasse, saw a 7.9%
growth in home prices during the first 6 months of 2015 according to
Wade Ragas, local real estate consultant and expert. The 7.9% growth
was based on numbers pulled just before Hurricane Katrina, and overall
in the Greater New Orleans area, home prices have jumped 50% since just
before Katrina. On the Southshore, the average sale price for a
single-family home in New Orleans went from $114 / square foot to $166 /
square foot which was a different in home pricing of $228,620 vs.
$339,743. Belle Chasse in Plaquemines Parish saw the 2nd highest
increase in home prices in Greater New Orleans followed by a 6% increase
in St. John the Baptist Parish.
Home prices on the Southshore in New Orleans have risen on average
4.6% per year for a record-high increase of 46%. All numbers culminated
for the 8-parish region surrounding Lake
Pontchartrain in the Greater
New Orleans area saw an increase in home prices of 18.6%, which is still
a pretty significant increase for a 10-year period. However,
interestingly, Jefferson Parish home pricing has not “moved” very much
at all since Hurricane Katrina.
Homes for sale in Jefferson Parish have remained nearly the same pricing overall in this period with only a 1%
growth in 10 years. The average price of a home in Jefferson Parish is
$194,510 which equals approximately $106 / square foot. Spikes of home
pricing in Jefferson Parish can be seen in prominent neighborhoods such
as Old Metairie and Bucktown where the average price of a home is
$494,724 amounting to $204 / square foot.
The Greater New Orleans area can actually be compared to larger
metros in its growth rate. These metros, such as Dallas, Houston, or
Miami were seeing similar growth according to Ragas.
“We have a surge in demand, but we don’t have enough inventory to
keep that at an affordable level,” Ragas said. “Problems like this tend
to solve themselves if markets are left alone.”
Ragas claims that there is a supply of buyers but not such a large
supply of homes to be purchased, which have led to bidding wars for
homes located in safe and quality neighborhoods in the city. The Parks
of Plaquemines, located just across the river from New Orleans offers
new lots for sale as well as
new homes for sale. When buying a new home
in our master planned community, you can avoid the high price of
purchasing a home in the city of New Orleans with lower taxes, lower
utilities, and a much higher level of safety. For More Information
about purchasing a home at The Parks of Plaquemines,
Contact Us at
504-364-2350 or E-mail
Info@TheParksLifestyle.com.
Click Here for the Source of the Information.
