Real estate trends in Louisiana | Sellers | Buyers | Investors | The best and worst of Louisiana | Louisiana resources
Louisiana real estate trends (May 2022)
How is the real estate market in Louisiana? | |
|---|---|
🏠 Average home value: $212,445 | 📈 1.05% home value increase month over month |
💰 Median sale price: $272,500 | ⏳ 58 days on the market |
🔑 Homes on the market: 6,756 | 📆 0.8 months of housing inventory |
🏦 30-year mortgage rate: 5.53000% | 💵 Average income: 49469 |
State of the market: C+ | |
Home values are plateauing and inventory is increasing — both of which are signs that the real estate market in Louisiana is cooling off. | |
*Data last updated May 2022 | |
A southern state perched on the Gulf of Mexico, Louisiana has a unique culture that blends Spanish, French, and Acadian (Cajun) traditions.
Every March, New Orleans hosts roughly 1.4 million visitors who descend for its lively Mardi Gras celebrations. But year-round, Louisiana residents enjoy the state's affordable cost of living, highly rated public schools, and mix of small towns and bustling cities.
The Bayou State has a warm climate and a landscape featuring wetlands, river plains, and marshes.
If you're thinking of buying or selling in Louisiana, these Louisiana housing predictions and stats can help you make an informed decision.
Want to save money when you buy or sell your home? With Clever, you'll only pay 1% or $3K in listing fees. Eligible buyers get 0.5% cash back after closing. Find out how much you can save with Clever today!
Selling a home in Louisiana
Louisiana real estate market forecast for sellers | |
|---|---|
⏰ Homes are selling 13 days faster than the annual average | 💰 Homes are selling for $12,387 more than the annual average |
💸 Average listing commission: 2.60% | 💸 Average buyer's commission: 2.60% |
How to sell a home in Louisiana
- The Best Low Commission Real Estate Brokers
- Top Real Estate Agents in Louisiana (June 2021 Rankings)
- 8 Steps to Selling a House in Louisiana
- How to Sell a House By Owner in Louisiana (2021 Update)
- 3 Best Louisiana Flat-Fee MLS Companies in 2021
- 5 Louisiana We Buy Houses for Cash Companies & Alternatives (2021 Rankings)
Cost to sell a home in Louisiana
Buying a home in Louisiana
How much home you can buy with $300,000 in... | |
|---|---|
🏠 New Orleans: 1,630 sq ft | 🏡 Lafayette: 2,000 sq ft |
🏡 Baton Rouge: 1,829 sq ft | 🏠 Shreveport: 2,727 sq ft |
- How to Save with a Home Buyer Rebate
- 8 Definitive Steps to Buying a House in Louisiana
- The Best Time to Buy a House in Louisiana
- The Ultimate Guide for Moving to Louisiana
Investing in Louisiana real estate
- Top 5 Best Real Estate Investment Markets in Louisiana
- The Ultimate Guide to Flipping Houses in Louisiana
- A Beginner's Guide to Buying an Apartment Building
Best of Louisiana
💡 Did you know…
Whether you're in the mood for brunch cocktails, a classic Southern breakfast, or an elegant Creole creation, you'll have plenty of tasty options in New Orleans. With 20 brunch restaurants per capita (compared to the national average of 7), this city is sure to satisfy even the pickiest breakfast enthusiast.
» Hungry for more info? 🍳 Read our full study here: The Best Brunch Cities in America
Each month, we compare cities in Louisiana based on different criteria. This month, we're looking at affordability and ranking the best cities in the state.
Most Affordable Cities in Louisiana |
|---|
1. Lake Charles |
2. Opelousas |
3. Hammond |
4. Monroe |
5. Houma-Thibodaux |
Ready to buy a home in Louisiana? Eligible buyers get cash back with Clever!
Worst of Louisiana
Each month, we compare cities in Louisiana based on a different criteria. This month we're looking at affordability data. These are the cities that ranked the worst in the state.
Least Affordable Cities in Louisiana |
|---|
1. New Orleans-Metairie |
2. Shreveport-Bossier City |
3. Alexandria |
4. Lafayette |
5. Baton Rouge |
Louisiana resources
- Louisiana Real Estate Commission
- Louisiana's real estate license verification
- Louisiana's real estate agent code of conduct
- Louisiana's disclosure forms
- Transfer taxes in Louisiana
- Home buying assistance programs in Louisiana
Frequently asked questions about Louisiana real estate
Currently, it is a seller’s market in Louisiana. Despite sales prices being much higher than estimated values, houses are still selling fast. While that's the general trend in the state, each particular city and town is different, which is why it’s important to check in with a real estate agent to find out the latest local trends.
Yes, Louisiana is a good state to invest in real estate, particularly in bigger cities like New Orleans and Baton Rouge. However, maximizing your investment requires a lot of preparation, such as planning out your finances and creating a thorough property management plan. Check out our guide to real estate investing to learn more.
It might not be the best time to purchase a house in Louisiana right now. Listing prices are much higher than normal, and mortgage rates in the state are on the rise. To figure out all your options, then work with a top real estate agent.
Methodology
Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, Bankrate, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.