Condo Trends: New Orleans Continues Recovery With Condos

Local real estate brokers say it stems from the condo market not having overbuilt such as markets in Miami, Chicago and other large cities.

Shaun Talbot, vice president of the local firm Talbot Realty Group, told the Times-Picayune (in Mississippi) that “the condo market remains stable in New Orleans compared to many parts of the country. He reported strong sales during the summer months, until hurricanes Gustav and Ike ate into September activity.

"Compared to many others, we're doing pretty well," Talbot he said to the paper.

Another broker/owner, Richard Jeansonne, of French Quarter Realty, said many of the condo sales in the river city are considered second homes – which “have helped buoy the condo market in greater New Orleans.”

"The condo market fortunately is still very much of a second-home market," Jeansonne told the Times. "People who are in a position to buy second homes are not as affected by the national crunch."



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