|January 10, 2016||No Comments|
Honestly, I am really glad to see the end of 2015. It’s not because 2015 was a difficult year. Quite the contrary, it was a glorious year. But I have always had an affinity for even years. All my family, my father and mother, my two sisters and my two daughters were born in even years. And, yes, I too was born in an even year, and a leap year at that. Even numbers are simply gentler, kinder, easier on my sensibilities.
But as we say hello to 2016, it is important to see how the homeowners, and for this piece of statistical observation, specifically those in the Garden District, fared in the previous year. The boundaries of the Garden District, though varying depending on the source, are generally Louisiana to Jackson Avenue and St. Charles Avenue to Magazine St.
Let’s look at the numbers. It’s where reality lies. For the twelve months of 2015, the Garden District yielded 227 sales of single family, detached homes. The average price for these sales was $559,239 per unit and a total sales of $126,947,000. It took an average of 44 days to sell these Garden District homes, about a month and a half per home.
But to have an appreciation of these these numbers, let’s look at the same figures for 2014. For the twelve moths of 2014, 208 like properties sold in the Garden District for an average price of $425,292 and total sales volume of $88,461,000.
In summary, 2015 was a good year for the Garden District property owners. The average price of homes increased 31%, almost 1/3 over 2014 prices. And total sales increased by an amazing 43.5% in 2015. It was a very good year.