Good News If You Are Looking to Buy a Home in Louisiana

SHREVEPORT, LA – The real estate market has been hot across the region, but higher interest rates have slowed things down a bit. There’s some really good news if you are in the market for a home in Louisiana these days.

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Supply of homes is one of the problems, but you will find some attractive prices in Louisiana compared to other states. You will also find a decent supply of homes when compared to many other states.

New research by Pro Tool Reviews shows the prices in the Bayou State are the most affordable in the U.S.

You get the most value for your money when buying a home in Louisiana. Nationwide, about five million home sales have closed in 2024 and those numbers continue to climb.

What States Are Most Affordable?

Louisiana is #1 on the list. Average prices for homes in the Bayou State are just above $250,000 dollars. The average salary in Louisiana is at $54,000 dollars. Just five years ago, the average price of a home in Louisiana was $206,000 dollars.

The data shows about 13% of homes in Louisiana sell about the asking price.

Texas is #2 on this list with a median price for a home at $351,900, but the average salary in Texas is $60,000 dollars.

Maine, New Hampshire and Rhode Island have the highest average prices for a 3 bedroom home.

How Many Homes Are on the Market?

This report says Louisiana's supply of homes is up by about 34% over the past five years. It shows more than 15,000 homes for sale in Louisiana compared to about 11,000 in 2019 just before the pandemic.