January 2023 Market Update

Take a Look at the Numbers

There is still a steady increase in PPSQFT across the four parishes listed above. Despite hurdles with interest rates and insurance, we are still seeing a strong seller's market.

Though we see a fall in NEW LISTINGS, there is an increase in MONTHS SUPPLY. With more inventory being sustained (likely because of insurance and financing issues) buyers now have a chance to breathe and shop. However, there is still a sense of urgency when buyers find "the one". A true buyer's market is over 7 MONTHS SUPPLY.

Rent on the Rise

Every year most renters are faced with a decision to renew their lease, find a new rental, or purchase a home. With insurance costs for property owners increasing over the last few years, its no wonder these costs trickle down to the tenant.

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Chuck Stall is a licensed REALTOR® WITH GNO REALTY

Broker: David Claus - Licensed in Louisiana

3225 Danny Park, Suite 202

Metairie, LA 70002 (504) 338-1144

www.GNORealty.com