The current issue of City Business, the business newspaper of metropolitan New Orleans, recently ran an article discussing the housing market predictions for 2018. The author of the article, Andrew Valenti, writes about how historic homes in the Uptown and Garden District neighborhoods were hot commodities when they were on the market in 2017. The author says that, "Many properties in these neighborhoods, such as the $1.3 million home at 1300 Peniston St., lasted mere hours on the market before going under contract." Outside of the city proper, the article talks about the hot housing market in neighborhoods like Old Metairie. Valenti writes that the top four of the ten top selling homes of 2017 came from the Old Metairie area.
After discussing the successes of the market in 2017, the article turns its attention to the predictions for 2018. Mirambell Realty's own Craig Mirambell is quoted in this portion of the article. He talks about how successfully January as been, Craig stated, "This is the best January we've had in the last three years. Low interest rates and a strong stock market have contributed to this positive news." The article talks about how they expect as much as an 8 percent increase in sales volume in 2018. Craig contributed to this article with not only his notice of how successful January has started the year, but also by saying, "We've seen the most activity in Mid-City, Old Metairie, and Uptown." Craig also stated that, "If interest rates stay in the 4 percent range, Mirambell said it's likely that sales volume will increase. If there's available inventory, buyers will be there."
Mirambell Realty is excited to see the continued growth in the market during 2018 and the continued success by our agents. We are also very proud of Craig for being featured in this article.