Home prices in some New Orleans area neighborhoods are rebounding slightly following a two-year housing market slump, data form the first half of 2024 shows.
Prices in more than half the ZIP codes across the seven-parish metro region were up year-over-year, according to a report compiled by the New Orleans Metropolitan Association of Realtors. But most of those prices increases were seen in the area's suburbs.
In the city's center, historic neighborhoods like the French Quarter and the Warehouse District, instead saw price declines over the first half of the year.
Here's a closer look at average single family home prices in Orleans, Jefferson and St. Tammany parishes from January to July.?
Orleans Parish
Just two ZIP codes in Orleans Parish saw increases in the average price of a single family home in the first half of 2024.?
70113, which encompasses Central City, saw the biggest increase in prices over the last year, as the median price per-square-foot jumped from $203 to $301.?
The Central Business District, with its hundreds of high-end condos, saw prices per-square-foot fall by more than 10% compared to a year ago. In Uptown, ZIP codes 70115 and 70118 were down 4% and 6%, respectively.
Jefferson Parish
In Jefferson Parish, nine out of 16 ZIP codes saw price increases that averaged about 4%, according to NOMAR data.
West Jefferson saw some of the largest growth, with prices per-square-foot in the Westwego area growing nearly 10%.
A few neighborhoods in East Jefferson also saw slight growth. In the parish's priciest ZIP code, 70005 which encompasses Old Metairie and Bucktown, the average price per square foot rose to $253 from $243 year ago. Kenner's 70065 zip code rose to $163 per square foot from $154.
St. Tammany Parish
In St. Tammany, prices were up in nine of the parish's 13 ZIP codes.
Abita Springs led the way with a 16% increase in prices. Parts of Slidell saw nearly double-digit growth for the first time in years with prices per-square-foot in the 70461 ZIP code increasing from $138 to $151.?
