Is Westside Beltline Trail West End Westview Adair Park real estate overheated? (houses, theatres)

[travelinFool]

So had a friend that put an offer on a house in Adair Park. Beautifully restored by the owner and not a flip. I think it was the Danny guy "The Real World" New Orleans maybe. Anyway home went for $260,000 which was $35k OVER list price. Obviously, with the Westside Trail coming in things are way more than heated up over there. This is a question, not a statement "so is the Westside Trail, West End, Westview, Adair Park areas overheated. Looking at property over there from an investor as well as homeowner standpoint. Westview homes are being marketed in the high $200's.

Property near Eastside Trail would have increased regardless of Eastside Beltline because of Ponce City Market, Krog Market and it's 2 minutes away from Midtown. There is a ton of retail/restaurants in the area and quite a bit of mixture of residential from single family to multifamily.

Westside area has none of the above and frankly I don't see many places to add that near the Beltline except for the Murphy/Lee street warehouse area. Large parts of the Westside Beltline are in residential areas or even in areas where you can't add any new construction like the site where you exit I-20 at Langhorn.

I'm leaning toward overheated, but would love to hear thoughts on those that are actually living, investing or know the area.

[tikigod311]

I think that is a bit overvalued, guess I would need to see the house.

But this is going to happen when real estate is so competitive and expensive all around the city. If this market keeps up, I would expect areas along the Westside Beltline to heat up as there are less and less reasonably priced options around the city.

[jsvh]

As noted above, would need to see that particular house. That is higher than others have been going for in the area. But the area overall is on the up and up so I expect prices to continue to rise.

[magnetar]

Originally Posted by travelinFool

Property near Eastside Trail would have increased regardless of Eastside Beltline because of Ponce City Market

That's assuming big developments like PCM would have happened regardless of the Beltline. That's a big assumption.

[arjay57]

Seems a little high to me, at least for now. I don't doubt that houses may get there soon enough.

However, there's still a good ways to go on retail and schools.

[jeoff]

May not be overheated--just risky. Until the west side becomes more established, it will be super vulnerable to economic downturns-like it was last time. If the economy stays solid for a while-- it may be a good guess.

[cqholt]

Originally Posted by arjay57

Seems a little high to me, at least for now. I don't doubt that houses may get there soon enough.

However, there's still a good ways to go on retail and schools.

Retail? The area around West End Mall has plenty of retail. What kind of retail are you referring to?

[jeoff]

Originally Posted by travelinFool

Property near Eastside Trail would have increased regardless of Eastside Beltline because of Ponce City Market, Krog Market and it's 2 minutes away from Midtown. There is a ton of retail/restaurants in the area and quite a bit of mixture of residential from single family to multifamily.

Originally Posted by magnetar

That's assuming big developments like PCM would have happened regardless of the Beltline. That's a big assumption.

Metro traffic, proximity to white/gentrified areas and nuking housing projects probably resulted in more change on the east side more than anything else.

[arjay57]

Originally Posted by cqholt

Retail? The area around West End Mall has plenty of retail. What kind of retail are you referring to?

Oh, they could use more eateries, coffee shops, grocery stores, move theatres, home stores, sports pubs, and more. Compare to the options that locals have on the east and north sides of town.

I suspect these things will come in time but there's a certain synergy between rooftops and retail that really makes things bubble at some point.

[cqholt]

Originally Posted by arjay57

Oh, they could use more eateries, coffee shops, grocery stores, move theatres, home stores, sports pubs, and more. Compare to the options that locals have on the east and north sides of town.

I suspect these things will come in time but there's a certain synergy between rooftops and retail that really makes things bubble at some point.

Oh, you mean gentrified levels of retail. The retail there has supported that community for decades, somehow the existing residents were able to survive without the need of overpriced coffee.