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.
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