After short-term rental ban, realtors see spike in French Quarter condos on the market

Lauren Bale talks to residents and experts about the increase in real estate for sale in the French Quarter.

NEW ORLEANS -- Three months after a short-term rental ban went into effect in the French Quarter, realtors say they're seeing a spike in the historic neighborhood's real estate market.

Drew Enderlin has lived in the French Quarter for the last few years, but over time, he’s watched the area change.

"You don't see your neighbors out often and most people who own property in the quarter live somewhere else in the U.S.,” Enderlin said.

Now, with the new short term rental ban in the French Quarter, he's waiting for neighbors to return to the neighborhood.

Clint Lacour with Keller Williams realty said that's a possibility. He's seeing more and more homes go on the market in the French Quarter, especially condos which are often rented out as Airbnb’s.

"The condo market, we're seeing about one unit a day go online,” Lacour said.

Lacour says it makes sense for property owners to sell Airbnb rentals.

"It's a concern for a lot of people, especially people paying their mortgage off Airbnb and now that it's banned their gonna unload it,” Lacour said.

He also said there's typically an increase in homes going on the market this time of year.

"This is the spring selling season,” Lacour said. “In the next few months as we work through the selling season it may go down, but this is the time to put your house on the market in general."

It's too soon to know whether this trend is seasonal or due to the Airbnb ban.

"Time will tell. I think we'll know in the next 90 days,” Lacour said.

As for Enderlin, he's hoping the trend is due to the ban and he's hoping his old neighborhood will return.

"What I'd love to see happen is more residents walking around, you can meet your neighbors more easily, you know more of a neighborhood,” he said.

© 2017 WWL-TV


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