$6,234 Closing Credit*
$525,000
3,400 SqFt
8 Beds
•4 Full Baths, 2 Partial
Nedra Jasper, Listing Office: Jasper Realty Associates
Is Gentilly Terrace, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Gentilly Terrace was a Seller's Market.
Key Takeaway
Gentilly Terrace is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Gentilly Terrace, LA
How much do homes in Gentilly Terrace, LA cost?
Median Sold Price
$238,750
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$11,352(-4.5%)
Key Takeaway
Homes in Gentilly Terrace have sold for 4.5% less than they did a year ago.
Summary: The median home sold price in Gentilly Terrace was $238,750 in November 2024, down 4.5% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $260K | $195K | -25.0% |
| 2 Bedrooms | $182.5K | $199K | +9.0% |
| 3 Bedrooms | $266.2K | $252.5K | -5.2% |
| 4 Bedrooms | $269K | $287K | +6.7% |
| 5+ Bedrooms | $257.5K | $399K | +55.0% |
Summary: Gentilly Terrace housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 9%, 3 bedroom homes decreased by 5.2%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 55%.
Median Sold Price Compared To Nearby Neighborhoods
| Gentilly | $265K | $275K | +3.8% |
| Gentilly Terrace | $250.1K | $238.7K | -4.5% |
| Milneburg | $249.5K | $236.5K | -5.2% |
| Saint Roch | $255.5K | $213.5K | -16.4% |
| Gentilly Woods | $274K | $224.2K | -18.2% |
Housing Supply in Gentilly Terrace, LA
How many homes are available in Gentilly Terrace, LA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 59 | 62 | +5.1% |
Summary: The Gentilly Terrace real estate market had 62 homes for sale in November 2024, a 5.1% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 12 | 13 | +8.3% |
| 3 Bedrooms | 23 | 23 | 0.0% |
| 4 Bedrooms | 18 | 19 | +5.6% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Gentilly Terrace housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 8.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Gentilly Terrace, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Gentilly Terrace in November 2024, down by 20.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Gentilly Terrace, LA
How long does it take to sell a home in Gentilly Terrace, LA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 76 Days | 98 Days | +29.5% |
Summary: Homes in Gentilly Terrace had an average of 98 days on market in Nov 2024, up by 29.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Gentilly Terrace are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 4 homes were sold in Gentilly Terrace; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.
Disclaimer: Copyright © 2024, New Orleans Metropolitan Association of REALTORS©, Inc. All rights reserved. Information deemed reliable, but not verified or guaranteed. Users are responsible for checking the accuracy, completeness, currency, and status of all information. The sharing of MLS database, or any portion thereof, with any unauthorized third party is strictly prohibited. Information contained on this site is believed to be reliable; yet, users of this web site are responsible for checking the accuracy, completeness, currency, or suitability of all information. Neither the New Orleans Metropolitan Association of REALTORS©, Inc. nor the Gulf South Real Estate Information Network, Inc. makes any representation, guarantees, or warranties as to the accuracy, completeness, currency, or suitability of the information provided. They specifically disclaim any and all liability for all claims or damages that may result from providing information to be used on the web site, or the information which it contains, including any web sites maintained by third parties, which may be linked to this web site.