$1,900 Closing Credit*
$160,000
1,900 SqFt
6 Beds
•2 Full Baths
Lindsay Santana, Listing Office: JW Property Services, LLC
Is Lower Ninth Ward, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Lower Ninth Ward has remained a Buyer's Market.
Key Takeaway
Lower Ninth Ward is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lower Ninth Ward, LA
How much do homes in Lower Ninth Ward, LA cost?
Median Sold Price
$166,000
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$13,000(-7.3%)
Key Takeaway
Homes in Lower Ninth Ward have sold for 7.3% less than they did a year ago.
Summary: The median home sold price in Lower Ninth Ward was $166,000 in October 2024, down 7.3% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $200K | N/A |
| 2 Bedrooms | $120.5K | $206K | +71.0% |
| 3 Bedrooms | $174.5K | $127.5K | -26.9% |
| 4 Bedrooms | $175K | $220K | +25.7% |
| 5+ Bedrooms | $265K | $302K | +14.0% |
Summary: Lower Ninth Ward housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 71%, 3 bedroom homes decreased by 26.9%, 4 bedroom homes increased by 25.7%, and 5+ bedroom homes increased by 14%.
Median Sold Price Compared To Nearby Neighborhoods
| New Orleans East Area | $189K | $187K | -1.1% |
| Lower Ninth Ward | $179K | $166K | -7.3% |
Housing Supply in Lower Ninth Ward, LA
How many homes are available in Lower Ninth Ward, LA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 63 | 66 | +4.8% |
Summary: The Lower Ninth Ward real estate market had 66 homes for sale in October 2024, a 4.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 15 | 17 | +13.3% |
| 4 Bedrooms | 25 | 25 | 0.0% |
| 5+ Bedrooms | 18 | 17 | -5.6% |
Summary: The Lower Ninth Ward housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 13.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 5.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lower Ninth Ward, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Lower Ninth Ward in October 2024, up by 200.0% month-over-month. Of the 6 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Lower Ninth Ward, LA
How long does it take to sell a home in Lower Ninth Ward, LA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 58 Days | 67 Days | +16.7% |
Summary: Homes in Lower Ninth Ward had an average of 67 days on market in Oct 2024, up by 16.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Lower Ninth Ward are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 6 homes were sold in Lower Ninth Ward; 17% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
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