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French Quarter Market Update! Condos under 200k, yes there are some nice ones!

     The New Orleans French Quarter is alive and well.   The under 200k condo market is always a small segment of the French Quarter condo market in a couple of ways.  The units are very small and many are studios at this price with many under 400 sq. ft.   There are currently 36 units for sale in the Quarter under 200k with only four under contract.  They are also going to be in varying conditions of not being updated.  But some are updated !

      With this said there are a number of neat units that would be used as second homes and weekend retreats.  There will be no parking with these units and not many will have balconies.  Its a buyers market in this segment much more than the higher end units.  There is plenty of competition from the Warehouse District which is across Canal Street where the same price units are larger, cheaper, and more updated.  They are however not in the Quarter where many people still want to be.  Real Estate is still a lot about location, location and location.

     I have seen a number of nice unit in the 160-180k price range that anyone would be happy with as a retreat home.  I like these since they are larger, have plenty of light and offer some amenities as a courtyard.  There are 5-6 that are very nice in either great locations or have that historical feel.

     There are not a lot of buyers at this time.  Rates are very low and sellers may be willing to part with the units for some good prices for a variety of reasons.  Rates hit 5% today which is $538 per 100k that you borrow.  Get the seasonal discount from the seller and the lowest rates of the century. The lowest of the Century is correct.

  

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  1. Andy in GR

    Fantastic. I saw this on your other blog and really enjoyed it. Great way to showcase your city!
    Andy

  2. New Orleans French Quarter Condos

    […] See the latest French Quarter Condos Updates for status of condos under 200k.  Many people do not know that the Warehouse District is steps […]

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Eric Bouler Realtor
Gardner Realtors
Metairie - New Orleans, La. USA