$700K buys roughly the same size house on both sides of the lake. What changes is how fast it sells.
I looked up homes sales data from the MLS focusing on $685K to $715K. These are sales from the last 90 days, and listings as of October 15. Our sample size is small so we are looking at trends here.
Jefferson Parish: $699K is the ceiling.
Listed at or under $699K: sold at full price in under 3 weeks.
Houses lsted at $715K or more: sat about 100 days, then sold around $700K anyway.
Orleans Parish: less house, more money, more choices.
Two Uptown homes listed at $775K. Both sold at $700–715K after cuts.
Buyers are not afraid to negotiate
Northshore: sellers hold their price, buyers hold their time.
Median 67 days to get there.
9 of the 20 listings are less than 5 weeks old.
Here are some examples of what houses you could get right now for $700,000.
4245 Cypress Point Drive, Covington : $699,900
4 beds | 3 baths | 2,855 sq. ft.
This new-construction home has two primary suites, a living room with a 12-foot coffered ceiling and gas fireplace, and a covered rear patio with a cypress ceiling. A pantry, mudroom and two-car garage add practical storage. The listed HOA fee is $79 per month.
4516 Folse Drive, Metairie : $695,000
4 beds | 2 full baths + 1 half bath | 3,570 sq. ft.
The largest home in this group sits on a corner lot across from the levee. It has a separate office, formal dining room, fireplace and wet bar/wine room, plus a kitchen with double ovens and a gas range. Outside are a fenced turf yard, brick patio and two-car garage. The listing reports a 2021 roof.
3149 State Street Drive, New Orleans : $689,000
4 beds | 2 full baths + 1 half bath | 2,978 sq. ft.
Built in 1933, this home pairs two levels of front porches with an open first-floor living area. The kitchen has granite counters and a wine chiller, and there’s a fenced, landscaped backyard and off-street parking. It’s an option for someone who wants an older New Orleans home with room to spread out.
668 Place Saint Etienne, Covington : $689,000
5 beds | 3 baths | 3,480 sq. ft.
Seated on an approximated 0.34-acre lot The heated saltwater pool and renovated kitchen stand out here. Four bedrooms are downstairs, with the fifth upstairs, and the listing includes a 20kW generator. The HOA fee is listed at $360 twice a year. Of these five, this is the one to compare if a pool and outdoor space are high on your list.
4674 Franklin Avenue, New Orleans : $699,000
6 beds | 3 baths | 3,480 sq. ft. total | Listed as a duplex
This duplex offers owner-occupant or investor potential: live in one unit and rent the other, or explore renting both. Set on a double corner lot, it features a three-bedroom ground-floor apartment, pine floors and tall ceilings upstairs, plus an outdoor kitchen, workshop and two-car garage.
How do they stack up?
Measured against what actually sold, these aren’t priced the same at all.
Cypress Point is right at the Northshore median. Folse is about $44/SF under Jefferson’s. State Street is about $37/SF under Orleans.
Folse is also 24 days in, in a parish where this price range sells in about 15. Next week’s data will say whether that’s a pricing problem or just timing.
Which one would you have toured first?
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Philip Ewbank,
Realtor Keller Williams Realty New Orleans
8601 Leake Ave, New Orleans, LA 70118
C: 504.335.7481 | O: 504.862.0100
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