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Featured local agent — New Orleans, LA
Sarah Mitchell
Compass Real Estate · New Orleans, LA
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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New Orleans, LA Housing Market & Real Estate
Housing market overview · Updated monthly ·
$355,000median sale price
How is the New Orleans, LA housing market right now?
The median home sale price in New Orleans, LA is $355,000, up 1.6% year-over-year. Homes sell in an average of 54 days with 2,170 active listings. The market is currently a buyer's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is New Orleans a buyer's or seller's market?
New Orleans, LA is currently a buyer's market, based on 5.8 months of supply and homes selling in about 54 days. How we determine this →
Homes sold
376
Last 12 weeks
Days on market
54
Average pace
Active listings
2,170
5.8 months supply
Sale-to-list
95.5%
Below asking
What does the New Orleans housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $355,000 |
| Median list price | $339,500 |
| Year-over-year price change | +1.6% |
| Average days on market | 54 days |
| Active inventory | 2,170 listings |
| Months of supply | 5.8 months |
| Sale-to-list price ratio | 95.5% |
| Median price per sq ft | $208/sq ft |
| Homes sold (latest month) | 376 |
| New listings (latest month) | 460 |
| Listings with a price cut | 26.6% |
| Market condition | Buyer's market |
Source: Redfin · Updated monthly
How much do homes cost in New Orleans by property type?
How the New Orleans, LA market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $379,000 | $216/sq ft | 243 | 49 days |
| Condo / Co-op | $343,000 | $362/sq ft | 47 | 76 days |
| Townhouse | $82,750 | $60/sq ft | 2 | 57 days |
Source: Redfin · Updated monthly
The New Orleans housing market is currently classified as a buyer's market with a median sale price of $355,000. Prices have risen 1.6% compared to last year, with homes spending an average of 54 days on market, indicating 5.8 months of inventory.This inventory level gives buyers significantly more negotiating power, allowing time to inspect properties thoroughly and potentially negotiate better terms.The price-to-income ratio of 4.5x provides context for how home values compare to local earning capacity.
Homes for sale in New Orleans
There are currently 2,170 homes listed for sale in New Orleans, Louisiana. The median listing price is $340K.
Active listings
2,170
Homes on market
Median list price
$340K
Avg. days on market
54
Days until sale
New this week
460
Newly listed
Who lives in New Orleans?
Population
376,035
Median income
$55,339/yr
Median age
38.4 years
Owner-occupied
50.5%
College grads
42.0%
Avg commute
22.7 min
Source: U.S. Census Bureau ACS
What are homes worth in New Orleans?
Zillow home value
$247,590
Zillow rent index
$1,664/mo
Price-to-rent ratio
12.4x
Price-to-income
4.5x
Source: Zillow Research
What is it like to live in New Orleans?
New Orleans is a community of approximately 376K residents with a median age of 38.4 years.The median household income is $55,339, which represents a working-class community with solid middle-income opportunities. 42.0% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 50.5%, showing a blend of owner and renter-occupied properties. The average commute time is 22.7 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, New Orleans offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve New Orleans?
50 schools tracked · 41,108 students
The largest public schools serving New Orleans, LA by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
The Willow School
Grades K-12 · 2,120 students
Morris Jeff Community School
Grades PK-12 · 1,566 students
Warren Easton Charter High School
Grades 9-12 · 1,152 students
Edna Karr High School
Grades 9-12 · 1,131 students
International School of Louisiana
Grades K-8 · 1,125 students
Benjamin Franklin High School
Grades 9-12 · 1,056 students
KIPP East
Grades PK-8 · 1,030 students
KIPP Morial
Grades PK-8 · 1,013 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near New Orleans, LA?
Want a head-to-head view? Compare New Orleans side-by-side with any other U.S. city using our market-comparison tool.
Is New Orleans a good real estate investment market?
For investors evaluating New Orleans, the price-to-rent ratio of 12.4x suggests potential rental yield opportunity, making the market attractive for income-focused investors. The market has appreciated 1.6% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on New Orleans's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using New Orleans's median home price.
Frequently asked questions
What is the average home price in New Orleans?
The median home sale price in New Orleans is $355,000, up 1.6% from last year.
How long do homes stay on market in New Orleans?
Homes typically spend 54 days on market before going under contract.
What is the median income in New Orleans?
The median household income is $55,339 per year.
Is New Orleans a buyer's or seller's market?
With 5.8 months of supply, New Orleans is currently a buyer's market.
What is the Zillow home value estimate for New Orleans?
The Zillow Home Value Index (ZHVI) for New Orleans is $247,590, representing the typical home value in the area.
What is the median condo price in New Orleans?
The median condo/co-op sale price in New Orleans, LA is $343,000, compared to $379,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in New Orleans?
The median single-family home price in New Orleans, LA is $379,000 (about $216 per square foot).
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