In the changing New Orleans real estate market, we are seeing new houses being built in areas you would least expect. Bayou St. John is no different as over half of their single-family home sales, in January to March 2019, were brand new homes. During that time frame, BSJ had an average sales price of $544k.
The current 90-day look at this New Orleans neighborhood shows us that almost all of the houses sold were in excellent condition. The average sales price for single-family homes was $415k with 3 beds / 3 baths and 1822 living square feet. Bayou St. John homes sat on the market for an average of 32 days.
Multi-family home sales in Bayou St. John were properties mainly in average to fair condition. In the last 6 months, they had 15 deals with the average sales price was $328k. That tells me in about 6-8 months; we will see some beautiful renovations to hit the New Orleans market.
While we see single-family home prices relaxed in many areas, Bayou St. John remains a desirable neighborhood. Be New Orleans predicts home prices staying stable throughout the remainder of 2019.