Since January 2020, the New Orleans & Metairie Retail Sector has seen volatility in lease prices ranging from a low of $13.51 in June 2020, when 16 of 439 listings were leased, to a high the very next month of $25.64 when 27 of 517 listings were leased. Total number of lease listings fell 14 percent, with a drop of 400,000 square feet for lease.
Last month in the New Orleans|Metairie Metropolitan Statistical Area there were 9 of 134 retail properties sold averaging $215/SF that were on the market an average of 250 days. Last month there were 383 retail listings for lease totaling 1.8 million square feet, and 18 were leased at an average price of $17.22, well below the asking price of $22.72/SF.
