French Quarter Condo Pricing is tough !

    Prices in the New Orleans French Quarter Condo Market do seem to be all over the ballpark.  They tend to be all over the place for a number of valid reasons.  You will find some prices that are obviously too high and wonder what the sellers were thinking.  You also see condos that are really priced well.  Its just a hard area to price and that is just the nature of the French Quarter Market.  

Chartes Street to Jackson Square in New Orleans French Quarter

    One of the main reasons is that the condo complexes tend to be small and its hard to find comparable sales when you price your condo as a seller.  Since many of the complexes are small the developers used all the available space.  Many times this  does not make for great floor plans.

     The location within the French Quarter is a large factor.  The views and amenties vary greatly from one condo to the next.  Generally the prices are higher between the Mississippi River na d Bourbon Street.

      The condition of the condos will vary greatly.  This was the first area that saw a lot of second homes in the New Orleans Condo market. Many have been there for 2o plus years.  Some will have updates and some will not.  Newly updated places will always sell for more and be more desirable.   The conditions of the complex will also vary from one condo association to another.  Many have not kept the common areas updated where others have a very well maintained and beautiful courtyards.

Condo Condition, French Quarter Condos

     Then you throw in things like parking.  Balconies and courtyards make big, big  differences in pricing.  Natural light and high ceilings add to the value along with views.  Floor plans and style will vary drastically between many units.  The amount variables makes it much harder to get to the right number.

   Many people who bought may have just overpaid when they bought and did not get the deal they thought.  The sellers may be trying to get a price and not what it is worth.  Most of the units in the French Quarter are second homes  and the sellers may not be truly motivated to sell.  On the other hand many will be aggressive on their pricing and just want to sell at a fair price.  

    One of the things I do is make sure you are competitive with other condos for sale.  You want to be in the top 3 condos within the price range you are competiting in.  You want to have the best chance to sell.  You want to outshine with your competition…………

     As a buyer you will find the correct unit just by being there at the right time…..

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