These Louisiana Cities Have the Fastest Growing Home Prices

In Louisiana is now the best time to buy a new home or is now the best time to sit and wait for the housing market to get settled a little bit more? Those certainly are two schools of thought you can hear discussed in any conversation in Louisiana that concerns the buying or selling of a domicile.

You might recall during the COVID-19 Pandemic real estate there was a frenzy of people wanting to buy and sell homes. Many people selling homes made a great profit, while many people purchasing homes might need a few more years to gain equity in their property.

Louisiana and the rest of the nation for that matter are now on the other side of the pandemic and the real estate market has calmed down considerably from those pandemic times. But is it a buyer or a seller's market in real estate right now?

If you're not familiar with those terms, a buyer's market suggests that prices are higher than market value so a buyer would get the better end of the deal. The seller's market is the converse, prices are low and supplies are high so the person making the purchase has a better chance of making a better deal.

Right now economic conditions across Louisiana and the nation suggest it is a seller's market. But despite the fact that prices are higher than their estimated value people are still snapping them up when they become available on the market.

The website Stacker.com compiled real estate information from Zillow and created a list of cities in Louisiana with the fastest-growing home prices. Just for reference sake, the typical home in the United States was valued at $350,091 as of September of 2023. That suggests a price increase of 2.1% over 2022.

Which Louisiana Cities Have the Fastest Growing Home Prices?

At first blush, you'd think the "honor" of having the fastest rising home prices in the state would go to a big city like New Orleans, Baton Rouge, Lafayette, or Shreveport but no, the place where home prices are rising the highest is a smaller community.

That community is the town of St. Amant. According to Stacker a typical home in St. Amant, which is in the Baton Rouge metro area, would cost $256,316.00. That price is $35,631.00 more than one year ago and more than a $62,000 increase from five years ago.

The number two town on the list is also in the Baton Rouge metro area, it's the town of Gonzales. Home prices in Gonzales have increased by more than $64,000 over the past five years. A typical home in Gonzales will cost about $296,989 bucks or about $28,093 than that same home would have cost just one year ago.

The rest of the top ten include Prairieville, Plaquemine, Ventress, Patterson, Sorrento, Geismer, Jarreau, and Arnaudville. It's interesting to note that of the top ten cities in Louisiana where home prices have risen the most, all but two of those cities Arnaudville and Patterson are considered to be in the Baton Rouge Metro.

You can see the complete top 50 list at Stacker.com, use this link.