The Carrollton single family market is technically a seller’s market. The six-month trend says so clearly. But the last 30 days tell a different story, and that gap is where buyers have an opening right now.
Here is what the data shows. All single family detached homes, Carrollton / East Carrollton, pulled from Matrix MLS.
Active market
Sales Activity
Phil’s Thoughts
The most likely explanation is seasonal. August is historically the slowest month for New Orleans real estate. School is starting, families are locked in, and the city has been under heat advisories that keep people inside and off the street. This results in a drop in foot traffic and delay in decisions.
This is not a market in distress, it’s a market in August.
That said, the slowdown is real regardless of the cause. Sellers who listed in May or June expecting summer momentum are now sitting at 50, 60, 70 days with no contract. That creates negotiating room that does not exist when the market is moving at its normal pace. A patient buyer with financing ready can take advantage of a motivated seller in a way that simply is not possible in March or April.
Street spotlight: Zimple Street
One listing that stands out in this environment is 7509 Zimple Street, listed at $395,000.
Three bedrooms, two baths, 1,174 square feet.
Full 2012 renovation.
Hardwood floors, granite kitchen, high ceilings.
Private upstairs suite with vaulted ceilings and its own full bath.
X flood zone on the current FIRM map.
Blocks from Maple Street, short walk to Tulane, steps to the St. Charles streetcar.
The number is what makes it notable.
The closest comparable sale is 1718 Short Street, a 3/2 that sold in 3 days at $419,000 last month. The nearest active competitor on the same street is listed at $550,000 and has been sitting over 45 days. The median active list price in this market is $614,000.
At $395,000 this is the only 3-bedroom single family home in East Carrollton available under $400,000 right now. It is priced $24,000 below the last comparable that moved immediately, and $155,000 below the nearest active listing on Zimple Street itself.
In a market where the pace has temporarily slowed and motivated sellers exist, that positioning is hard to ignore.
If you have been watching Carrollton for the right moment to stop renting and start owning, is the current pause in activity the signal you have been waiting for?
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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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