May Market Minute

May Market Minute

Want to know how corona virus shutdowns have affected your local real estate market? Click on the link to watch a Market Minute.


https://www.youtube.com/watch?v=Y5YZGus_oLk


Here are some hard Facts.


St. Tammany Parish:
1. Houses under contract from March-April rose 12.8% and were down only 1% from the same time last year.
2. The biggest change was in new listings, which was down a substantial amount from April of last year, at 34.4%.
3. However, May might prove to be a more productive month as the first 10 days of the month saw a 12.8% rise in new listings from the same time period in April.


IN APRIL:
--For Sale: 1378. Down 2.2% from March
--Sold: 308. Down 1.6% from March


Jefferson Parish:
1. Houses under contract from March to April dropped 25.2% and were down a whopping 37.1% from the same time last year.
2. A massive rebound is on track as the first ten days of May have seen an 84.5% increase in houses under contract compared to the first ten days of April, the number going from 58 to 107. That is only a difference of -6.1% for the same time last year.
3. The same time period also saw a 34.6% increase in new listings.


IN APRIL:
--For Sale: 664 in April. Down 0.6% from March
--Sold:  258 down 15.4% from March


Orleans Parish
1. Pending contracts were only down 6.9% in the month of April, and are in fact up 55.6% in the first ten days of May compared to the first ten days of April.
2. The same time period also saw a 12.7% increase in new listings.


IN APRIL:
--For Sale: 1127 in April. Up 1.9% from March
--Sold: 205. Down 24.6 % from March