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The Real Estate Market in Lakeview, New Orleans

Feb 20th 2017 at 3:06 PM

For many people who reside in New Orleans, the city may as well end at City Park. However, if you were to keep heading northwest, you'd come to a beautiful place where the waves continually crash down on the shore – a place that elicits images that are akin to the upper east coast. A place whereby the vibrancy of new development meets up with New Orleans’ old time tradition. The Lakeview neighborhood hosts the power to draw any homebuyer.

Ever since Hurricane Katrina in 2005, the Lakeview neighborhood has continued to attract an entirely new wave of hungry buyers. What’s more, the storm came with the added benefit that it created openings within a community that in bygone times had little turnover along with a very strong sense of community.

Most realtors would agree that homes in the neighborhood with a price tag of below $500,000 are quick to move. Nevertheless, if you were to work with a realtor that is closely in touch with the area, excellent properties cansuccessfully be found. Homes with an area of between 2,000 and 3,000 square footage are particularly in high demand. And that demand continues to grow, in the main, thanks to an assortment of new developments.

Besides Lakeview’s nearby proximity to City Park, there are now multi-use pathways that have been established among the tree-lined streets of the neighborhood. The lakefront streets come with a rather unique sense of peace and quiet, and that’s even within the city. Also home to a handful of the city’s best public and private schools, Lakeview makes for a terrific location for young families.

Aside from the new development, Lakeview has seen a pedestrian culture take hold. The emphasis on easy walking to a large host of destinations ensures that Lakeview differentiates even more from the other city neighborhoods.

However, it’s along Harrison Avenue that the most stunning redevelopment has occurred. Following on from a change in zoning, the street that is at the very heart of Lakeview has witnessed an explosion in the number of small businesses, inclusive of restaurants, boutiques, and coffee shops. And along with this growth, the spotlight on the area has increased.

Homes, as well as commercial properties, are in particularly high demand in and around Harrison Avenue, simply because businesses wish to locate there, while people want to have the capacity to walk to work. It is very convenient.

All the same, if you do wish to invest in real estate in Lakeview, be aware that the current climate lends itself very strongly to a seller’s market, given that there is very low inventory, and the homes that are available invariably enjoy numerous offers.

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