New Orleans, Louisiana has a special place in many people’s hearts. It also holds a special place in many people’s futures. What we mean by this is that this southern city is a popular one, and the population has been rising since 2010 after taking a major loss after Hurricane Katrina. While the rate has been slower in recent years, we’re seeing the city regain its hustle and bustle that was stifled from the storm, especially in the housing market. If you’re looking to move to New Orleans and buy a house, you better get a move on. Or, if you’re a homeowner here and plan to sell, now may be the time. Here’s why homes are selling fast in New Orleans and how to stay on top of the market.
The cost of housing is on the upswing
Do people buy houses quicker when they know that the cost of housing is trending upwards? Or do houses get more expensive because more and more people are buying them? It’s a little bit of both, but the fact is, it’s always a smart idea to buy a home before the average housing price in the area goes up; and, in New Orleans, the price has been going up. If you’re planning on buying a house soon in this city, we suggest doing it soon!
Reconstruction of the city
One of the greatest tragedies that struck the city wasn’t necessarily Hurricane Katrina itself, but rather how slow and arduous the reconstruction process was. New Orleans is still recovering from the storm, but the architecture, buildings, and houses are getting closer to what they once were. As more houses pop up and are restored, more people are investing in real estate. And, it’s happening quickly!
It’s a great city
Combine being close to a coastline with excellent food and a rich history and you’ve got yourself a spot where everyone wants to live! For those who are trying to sell your New Orlean’s home, now is the time to do so, but you’ll want to be smart about it and do research on the best time to sell your house in New Orleans. It really is a no brainer that homes are selling so quickly and that if you are planning on selling, you should make out pretty well. Do research on the market long before you list your home and always hire a real estate agent.
Well now that you know that homes in New Orleans are selling quite fast and have a basic idea of why they are, you can have a better idea of how to navigate the market. If you’re looking to buy, we don’t’ suggest that you hesitate when it comes to searching for a home. Planning to sell? Be diligent on taking the sales process seriously. For instance, learn when to walk away from a house negotiation and when to stick it out.