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Jaclyn Kelley / Eyewitness News
Email: jkelley@wwltv.com | Twitter: @jkelleyWWL

NEW ORLEANS -- A new report released by the New Orleans Metropolitan Association of Realtors says home prices are still going up in the Metro area, even after the record-breaking increases the housing market saw last year.

Yet, prices are soaring, the most, in neighborhoods you would not quite expect.

People will pay big bucks to live in the city, which is why it is no surprise home prices continue to climb.

'Now is the time, if you are thinking about selling your home and getting the best price,' says Gardner Realtors Managing Broker Ashley Nguyen. 'It's a seller's market.'

According to the new report, the sale of an average home is up 2 percent. That is not as much as the 4 percent experts saw last year, but the price per square foot is also going up.

'In New Orleans East this particular house is listed at $179,900,' says Nguyen as she walks through a recently renovated home in a quiet New Orleans East neighborhood. 'If you take this house to the Garden District or Lakeview you are going to see huge prices there.'

Nguyen says that is in part to the low inventory in desirable neighborhoods like Uptown and Lakeview, but also because there are more buyers.

'A lot of jobs, a lot of good quality jobs, that's why people are moving to the city,' says Nguyen.

In just the first half of the year, home prices in New Orleans East went up more than any other neighborhood in the city. Particularly near the new hospital, where prices jumped 14 percent.

For a fixer upper, the price per square foot has gone up 47 percent from last year. Even so, according to the report, more people are now opting to renovate because it is still cheaper than buying a home that is already in good condition.




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