Why Live in Lake Terrace-Oaks
Lake Terrace-Oaks, a suburban neighborhood in New Orleans, is steeped in rich history, having evolved from the once vibrant Milneburg district, a hub for jazz legends like Louis Armstrong and Danny Barker. Located at the end of Elysian Fields Avenue, this area now features mid-century modern and Georgian-style homes in Lake Terrace, and California-style bungalows in Lake Oaks. The neighborhood is part of the Lakeshore area, where boating and fishing are popular pastimes. Residents enjoy proximity to the French Quarter, just 20 minutes away, and City Park, only 10 minutes away, which hosts events like Celebration in the Oaks and houses the Besthoff Sculpture Garden. Local events such as Greek Fest, the Fried Chicken Festival, and Hogs for the Cause offer diverse cultural and culinary experiences. The University of New Orleans, with its 350-acre campus, separates Lake Terrace from Lake Oaks and contributes to the neighborhood's educational landscape. The area is also known for its small, private parks and nearby public parks like London and Lakeshore Parks, as well as the expansive Bayou Sauvage National Wildlife Refuge. With a population of nearly 2,500, Lake Terrace-Oaks is considered one of the best places to live and raise a family in New Orleans. Commuters benefit from shorter travel times compared to the national average, with easy access to major routes like Elysian Fields Avenue, Business 90, Interstate 610, and Interstate 10.
Home Trends in Lake Terrace-Oaks, LA
On average, homes in Lake Terrace-Oaks, New Orleans sell after 76 days on the market compared to the national average of 51 days. The median sale price for homes in Lake Terrace-Oaks, New Orleans over the last 12 months is $535,000, up 16% from the median home sale price over the previous 12 months.
Median Sale Price
$535,000
Median Single Family Sale Price
$549,000
Average Price Per Sq Ft
$184
Number of Homes for Sale
14
Last 12 months Home Sales
68
Median List Price
$565,000
Median Change From 1st List Price
6%
Median Home Sale Price YoY Change
16%