Buyers May Overlook Rundown Properties in Gentilly Area
New construction is an important factor in the real estate market in the Gentilly section of New Orleans, one of the areas hardest-hit by Hurricane Katrina. Katrina’s storm surge caused the London Avenue Canal floodwalls to breach in two places, inundating most of Gentilly.
New construction is contributing to an increase in home prices in Gentilly, where average home sale prices increased 122 percent in eight years, from $65,214 in 2007 to $144,979 in 2015.
The number of homes sold in Gentilly each year has varied widely, jumping from 233 in 2013 to 332 in 2014, then retreating to 209 in 2015, according to Crescent City Living.
According to Realtor.com, there were 256 homes for sale in Gentilly in August 2017, with a median listing price of $197,000, or $121 per square foot. The median closing price was $189,000.
Gentilly Neighborhood Housing Value and Area Schools
Lake Pontchartrain bounds Gentilly to the north, Bayou St. John to the west, France Road and the Industrial Canal to the east and the Louisville and Nashville Railroad and Interstate 610 to the south. The 70122 ZIP Code covers most of Gentilly area of New Orleans. Neighborhoods within Gentilly, with the average home listing price in June 2017, include:
- Dillard, $155,925
- Fillmore, $370,387
- Gentilly Terrace, $223,639
- Gentilly Woods, $135,475
- Milneburg, $175,269
- Pontchartrain Park, $148,200
- Anthony, $221,099
- Bernard, $202,444.
There are three universities in Gentilly: the University of New Orleans, Southern University at New Orleans, and Dillard University. The main campus of New Orleans Baptist Theological Seminary is also in Gentilly. Public schools in the area include Benjamin Franklin High School, Lake Area New Tech Early College High School, Gentilly Terrace Charter School, and Arthur Ashe Firstline School. Private schools include Holy Cross School and Brother Martin High School.
Housing Classifications and Their Effects on the Market
The HousingNOLA 10-Year Strategy and Implementation Plan for a More Equitable New Orleans classifies Gentilly as a “sapphire” area. HousingNOLA is an initiative of the Greater New Orleans Housing Alliance, a collaborative of home builders and community development organizations advocating for preservation and production of affordable housing.
Sapphire areas have older housing stock, with affordable rents and home prices. Within Gentilly, the Gentilly Terrace, Milneburg, Pontchartrain Park, and St. Bernard neighborhoods represent the sapphire category, while the Dillard, Gentilly Woods, and St. Anthony neighborhoods represent the emerald category, characterized by high vacancies and low market activity. The Fillmore neighborhood represents the ruby category, characterized by low vacancies and high rents and home prices.
Levees.org has established a Levee Exhibit Hall and Garden in Gentilly at 5000 Warrington Drive, the site of one of the London Avenue Canal breaches. The six exhibit panels tell the story of all the city’s levee breaches.
If your home is not the type that buyers are looking for in your neighborhood, you may encounter frustrating delays in the home selling process, but you do have options. Visit our FAQ on selling your New Orleans house for cash to learn more about our simple 4-step process and how we help homeowners unload their property in less than 30 days.