We’re happy to announce that the condo market inside the Crosstown is healthy. While fewer condos were sold in 2008 versus 2007, reflecting the reality of fewer buyers, the price of the average sale was 25.4 percent higher than the average price last year. These are macro numbers largely dependent on the product sold.
112 condos were sold in 2008 with an average price of $678,572. Days on Market: 195
186 condos were sold in 2007 with an average price of $541,076. Days on Market: 86
By Neighborhood:
South of Broad had 14 condo closings in 2008, the same as in 2007. The price of the average sale was 1.217 million, up 26% from the average price in 2007.
Ansonborough had 6 condo closings in 2008 versus 10 in 2007. The price of the average sale was $886,708, up 40% from 2007.
The French Quarter had 9 condo closings in 2008, down from 12 in 2007. The price of the average sale was up 37% versus 2007.
-Dave Landry