Updated: Feb 7
How low can you go?
Inventory keeps falling faster than buyer demand can keep up. This has resulted in a robust seller's market with buyers scrambling to see properties and submit offers before they are gone. How severe is this inventory shortage? Take a look at the last ten years.
The number of Homes for Sale was already on a steady decline before the COVID-19 pandemic. However, we see that around March of 2020, inventory fell dramatically. To make matters more challenging, Hurricane Ida parked over the region in late August and damaged many homes causing the shortage to be even more severe.
From 2021 to 2022, the number of Homes for Sale fell 41% in Orleans Parish, 38.2% in Jefferson Parish, 44.5% in St. Tammany, and 36.4% in St. Bernard. With the number of homes dropping, now is the perfect time if you've been thinking of listing your property. For a FREE assessment of your home, Contact Chuck Stall REALTOR® at 504-432-0263 or email firstname.lastname@example.org.