Is Now a Good Time to Buy or Sell in Tremé New Orleans?
Single family homes, doubles, and rentals, what the data says about buying, selling, and investing in Tremé right now
Tremé is the oldest African American neighborhood in the country. That’s not marketing language, it’s documented history.
This historic neighborhood developed the birthplace of jazz, the home of second line culture, Congo Square, Louis Armstrong Park, and St. Augustine Church, one of the oldest African American Catholic parish in the country. Its also home to the internationally renown Dooky Chase’s Restaurant on Orleans Avenue.
The housing stock reflects the age and density of the neighborhood, Creole cottages, shotgun doubles, and narrow lots that have housed musicians, civil rights activists, and multi-generational families for over two centuries. It’s a small neighborhood geographically, and the market data reflects that.
Read the numbers with that context in mind.
Months of inventory of 10.5 months signals buyer's market territory, but Tremé is a small neighborhood and 8 closings in 90 days is a thin sample, use the number as a directional signal, not a verdict.
The more telling detail is 9 homes under contract against 28 active, about 32% of inventory is in motion. Homes that close are doing so at a median of $396,500 in 41 days. Buyers have time and leverage here, but correctly priced homes are still moving.
Note: one UC listing at $60,000 was excluded as a distressed outlier. The remaining data tells a more useful story. 25 active multifamily listings, only 2 under contract, but 9 closings in 90 days, and a 19-day median DOM on those closings.
That gap is the most interesting signal in this dataset. Active inventory is sitting 102 days on average. Deals that get done are closing in 19 days.
The market is bifurcated: correctly priced multifamily moves fast, everything else sits and waits.
38 active rentals with 25 leased in 90 days, roughly 8 per month. Steady absorption. Median active rent of $1,600 versus median leased rent of $1,500 suggests landlords are reducing their rent about $100 off asking on average to get a lease. Units moving at a 32-day median DOM, consistent but not frenzied.
What it means
Buyers: 10.5 months of inventory means you have time and negotiating room. Don’t confuse that with a distressed market, correctly priced homes are still closing in 41 days.
Sellers: Active listings are sitting 82 days on average. Price is the variable you control. The homes getting to the closing table are doing it in 41 days. The more transparent you are with pre-inspections, flood declaration forms, and insurance quotes the faster buyers can make a decision.
Investors: 19-day median DOM on multifamily closings is the standout number. The deals that get done in Tremé get done fast, have your financing ready before you start negotiating.
Renters: 38 active units and about $100 of negotiating room between asking and leased price on average. Take your time and try negotiating with the landlord, you never know!
If this data raised questions about your own situation: buying, selling, or investing in Tremé, feel free to reach out.
No pressure, just a conversation. 504.335.7481 or Book A Time To Chat!
🏠🏠🏠🏠🏠🏠🏠🏠 Philip Ewbank, Realtor Keller Williams Realty New Orleans 8601 Leake Ave, New Orleans, LA 70118 C: 504.335.7481 | O: 504.862.0100 Each office independently owned & operated. Licensed in the state of Louisiana. License #0995700196