NeighborhoodX just released its New Orleans Neighborhood Pricing Report for June 2017.
The study looks at market-rate properties in neighborhoods across the city. As a result, the analysis excludes foreclosures and short sales, as well as properties primarily positioned as development sites as well as certain listings with incomplete or contradictory information.
The report uses price per square foot rather than median listing price, in order to provide a basis for comparison among the neighborhoods of the city.
"Median selling price is a more common metric, but it doesn't take into comparison the different types of properties in different areas - it might offer skewed results because one neighborhood has smaller properties compared to another one," said Constantine A. Valhouli, Director of Research for NeighborhoodX.
With this in mind, the overall price range for the neighborhoods in this analysis (which does not include all of the city) is $40-999 per square foot.
"On one end, this represents the lowest-priced market-rate property in Little Woods that was not a short sale, foreclosure, development site, or in need of total rehab," said Valhouli. "At the other end, it represented the most expensive property for sale in the Central Business District."
It is worth noting that the upper end of the price range in the CBD is higher than that in the French Quarter right now.
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