French Quarter Real Estate
French Quarter Real Estate Snapshot
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French Quarter
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- With its architecture and ambiance, the French Quarter is a vibrant and timeless community unlike any other. If you ever thought that living in Europe might be fun, this is as close as it gets in the USA.
- Although considered "expensive" by some, the Vieux Carre continues to expand in value and allure. Behind these walls are some of the most beautiful rooms and patio gardens in the world!
- There are few single family homes or multi-family homes in the French Quarter. If those types of properties are of interest, you should consider the $600,000 and higher price range to ensure that you will have a number of options.
- On the other hand, French Quarter condos are relatively affordable, priced from about $130,000 for smaller units. Two bedroom condos range from the mid $200s to over $1,000,000.
- Off-street parking can be a challenge to find in the French Quarter. Many of the higher priced homes do have parking, but it is rare to find a mid- or lower-priced condo with this feature, and they do sell fast! A lot of French Quarter residents lease parking by the month in nearby garages.
- World famous restaurants, music and nightlife make the French Quarter a wonderful neighborhood for locals as well as second homes for fun-lovers from all over the planet.
Fun Facts
- The French Quarter is also known as the "Vieux Carré" witch means "Old Square" in French. It has been the center of New Orleans since the city was founded.
- The French Quarter area was the first land settled in the New Orleans area because it was the highest elevation available. That elevation saved the Quarter from the devastating flooding caused by Hurricane Katrina.
- A fire in 1788 and another in 1794 burned most of the French-built properties, and reconstruction was accomplished under the rule of Spain. To this day, architecture in the Quarter retains a strong Spanish influence.
- In the late 1800's and the first half of the 1900's, the Quarter was less fashionable than today and housed many new immigrants drawn by low rents.
- The later decades of the 1900's saw a revival of the neighborhood due to historical renovation, the 1984 World's Fair and development of the area for tourism. As a result, home values have skyrocketed.
Recent French Quarter Real Estate Prices
Homes Listed in Very Good or Better Condition
Sold Between July 1, 2011 and December 31, 2011
| Average Price |
Maximum Price |
Minimum Price |
Average $/SqFt |
Maximum $/SqFt |
Minimum $/SqFt |
Number Sold |
|
|---|---|---|---|---|---|---|---|
| Single Family Homes | $1,011,965 | $2,030,000 | $315,000 | $394 | $657 | $243 | 17 |
| Multi-Family Homes | $826,545 | $1,160,724 | $505,000 | $222 | $317 | $163 | 5 |
| Condos | $251,657 | $587,020 | $69,000 | $382 | $542 | $131 | 58 |
Yearly Average Sales Prices of French Quarter Condominiums
Condominiums Listed in Very Good or Better Condition
January 1, 1994 through December 31, 2011
French Quarter Real Estate Prices - Single Family Homes
| Year | Very Good or Better Condition | Poor to Average Condition | All Sales | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Average | $/SqFt | #Sold | Average | $/SqFt | #Sold | Average | $/SqFt | #Sold | |
| 1994 | $419,444 | $158 | 9 | $222,333 | $122 | 3 | $370,167 | $149 | 12 |
| 1995 | $429,462 | $157 | 13 | $228,313 | $113 | 8 | $352,833 | $140 | 21 |
| 1996 | $391,962 | $154 | 13 | 0 | $391,962 | $154 | 13 | ||
| 1997 | $372,536 | $154 | 14 | $498,333 | $102 | 3 | $394,735 | $145 | 17 |
| 1998 | $379,259 | $175 | 27 | $244,857 | $111 | 7 | $351,588 | $161 | 34 |
| 1999 | $435,768 | $164 | 25 | $416,250 | $170 | 8 | $431,036 | $165 | 33 |
| 2000 | $525,000 | $183 | 22 | $250,165 | $111 | 4 | $482,718 | $172 | 26 |
| 2001 | $584,414 | $215 | 21 | $811,250 | $165 | 4 | $620,708 | $207 | 25 |
| 2002 | $644,071 | $231 | 14 | $252,500 | $199 | 2 | $595,125 | $227 | 16 |
| 2003 | $829,406 | $260 | 16 | $377,800 | $154 | 5 | $721,881 | $235 | 21 |
| 2004 | $731,197 | $291 | 16 | $570,000 | $237 | 7 | $682,137 | $275 | 23 |
| 2005 | $880,839 | $333 | 14 | $225,000 | $379 | 1 | $837,117 | $336 | 15 |
| 2006 | $1,013,406 | $366 | 16 | 0 | $1,013,406 | $366 | 16 | ||
| 2007 | $1,144,150 | $386 | 20 | $700,000 | $169 | 1 | $1,123,000 | $376 | 21 |
| 2008 | $727,600 | $429 | 10 | $498,000 | $199 | 2 | $689,333 | $390 | 12 |
| 2009 | $1,054,824 | $388 | 17 | 0 | $1,054,824 | $388 | 17 | ||
| 2010 | $1,184,286 | $345 | 21 | $775,000 | $164 | 2 | $1,148,696 | $329 | 23 |
| 2011 | $970,653 | $393 | 19 | $473,480 | $241 | 5 | $867,075 | $361 | 24 |
French Quarter Real Estate Prices - Condos
| Year | Very Good or Better Condition | Poor to Average Condition | All Sales | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Average | $/SqFt | #Sold | Average | $/SqFt | #Sold | Average | $/SqFt | #Sold | |
| 1994 | $144,948 | $134 | 23 | $88,000 | $105 | 4 | $136,511 | $130 | 27 |
| 1995 | $127,231 | $141 | 26 | $84,750 | $121 | 8 | $117,235 | $136 | 34 |
| 1996 | $145,927 | $160 | 31 | $124,000 | $153 | 6 | $142,371 | $159 | 37 |
| 1997 | $147,883 | $154 | 46 | $90,833 | $118 | 6 | $141,300 | $150 | 52 |
| 1998 | $141,253 | $171 | 47 | $73,400 | $137 | 5 | $134,729 | $168 | 52 |
| 1999 | $146,747 | $175 | 79 | $89,718 | $147 | 22 | $134,325 | $169 | 101 |
| 2000 | $174,448 | $211 | 91 | $89,322 | $169 | 37 | $149,841 | $199 | 128 |
| 2001 | $181,845 | $236 | 95 | $63,962 | $182 | 13 | $167,656 | $229 | 108 |
| 2002 | $199,794 | $239 | 94 | $115,267 | $235 | 15 | $188,162 | $238 | 109 |
| 2003 | $218,970 | $264 | 127 | $125,958 | $208 | 12 | $210,940 | $259 | 139 |
| 2004 | $227,126 | $293 | 111 | $173,000 | $289 | 6 | $224,350 | $293 | 117 |
| 2005 | $296,718 | $371 | 91 | $154,000 | $342 | 3 | $292,163 | $370 | 94 |
| 2006 | $294,340 | $398 | 83 | $161,300 | $414 | 5 | $286,781 | $399 | 88 |
| 2007 | $293,007 | $400 | 95 | $188,333 | $300 | 3 | $289,803 | $397 | 98 |
| 2008 | $322,178 | $390 | 84 | $185,000 | $275 | 2 | $318,988 | $387 | 86 |
| 2009 | $265,632 | $360 | 64 | $169,750 | $282 | 6 | $257,413 | $354 | 70 |
| 2010 | $253,951 | $360 | 71 | $199,433 | $330 | 3 | $251,741 | $358 | 74 |
| 2011 | $251,391 | $371 | 68 | $129,983 | $235 | 6 | $241,548 | $360 | 74 |
French Quarter Real Estate Prices - Multi-family Homes
| Year | Very Good or Better Condition | Poor to Average Condition | All Sales | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Average | $/SqFt | #Sold | Average | $/SqFt | #Sold | Average | $/SqFt | #Sold | |
| 1994 | $296,333 | $94 | 3 | $185,719 | $86 | 8 | $215,886 | $88 | 11 |
| 1995 | $328,500 | $93 | 3 | $180,688 | $75 | 8 | $221,000 | $80 | 11 |
| 1996 | $370,800 | $99 | 5 | $253,167 | $81 | 6 | $306,636 | $89 | 11 |
| 1997 | $237,232 | $125 | 5 | $252,719 | $98 | 8 | $246,762 | $109 | 13 |
| 1998 | $255,000 | $138 | 4 | $209,814 | $99 | 7 | $226,245 | $113 | 11 |
| 1999 | $370,500 | $121 | 4 | $240,125 | $97 | 13 | $270,801 | $103 | 17 |
| 2000 | $397,665 | $151 | 8 | $214,220 | $106 | 3 | $347,635 | $138 | 11 |
| 2001 | $566,000 | $149 | 7 | $327,500 | $137 | 2 | $513,000 | $146 | 9 |
| 2002 | $452,000 | $167 | 12 | $262,500 | $146 | 1 | $437,423 | $165 | 13 |
| 2003 | $519,712 | $169 | 9 | $422,000 | $134 | 5 | $484,815 | $157 | 14 |
| 2004 | $680,429 | $190 | 7 | $525,000 | $142 | 2 | $645,889 | $180 | 9 |
| 2005 | $618,750 | $249 | 4 | $725,000 | $302 | 1 | $640,000 | $260 | 5 |
| 2006 | $1,085,000 | $206 | 1 | $425,000 | $169 | 1 | $755,000 | $187 | 2 |
| 2007 | $451,000 | $259 | 1 | $521,250 | $240 | 2 | $497,833 | $247 | 3 |
| 2008 | $657,500 | $268 | 2 | $882,000 | $262 | 2 | $769,750 | $265 | 4 |
| 2009 | $875,000 | $324 | 1 | $655,750 | $162 | 4 | $699,600 | $194 | 5 |
| 2010 | $969,000 | $171 | 3 | $530,000 | $193 | 6 | $676,333 | $185 | 9 |
| 2011 | $689,091 | $207 | 8 | $331,625 | $179 | 2 | $617,597 | $201 | 10 |
City of New Orleans Map
The French Quarter is in MLS Area 71
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A few notes about the pricing data:
- All the sales information comes from the database of homes listed as sold by the Gulf South Real Estate Information Network.
- The information is entered by many hundreds of listing agents and brokers, so we consider the data to be generally accurate but do not and cannot guarantee that it is exactly accurate.
- These charts and tables should be regarded as general guides to trends in Metro New Orleans real estate and not as specific recommendations on the worth of individual homes. Each situation has its own variables, and it pays to have an experienced professional to determine the market value of any property prior to undertaking a transaction.
- Multi-family homes used in this study contain four or fewer units.
Lynda Nugent Smith
Lesha Nugent Freeland
Keller Williams Realty
4725 Veterans Memorial Boulevard
Metairie, LA 70006
United States of America
504.455.0100
Each office independently owned and operated
Broker and associate are licensed by the state of Louisiana