Condominium Market in French Quarter Continues to Rise

Sales of condominiums in the French Quarter are at an all-time high.  The chart and table below shows average condominium pricing on a price per square foot basis from 2000 to 2015. After rising rapidly from 2000 thru 2005, the market saw a downturn during the Post-Katrina era followed by the economic downturn. However, starting in 2013, the market began to enjoy rapid gains – 8% in 2013, 12% in 2014 and 14% in 2015.

Recent data suggests that rising prices continue into 2016 with sales in the last twelve months averaging $519.98 per square foot, up 3.08% in less than three months and up 15.58% over the same period a year ago. Those properties that have been renovated in the last three years are showing values even higher with an average of over $550.00 per square foot.

 

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