New Orleans, LA Housing Market: What to Expect in 2025?

Name: New Orleans, LA Housing Market - Price Trend Analysis
Creator: Houzeo
License: https://www.houzeo.com/terms-of-use/

Overview

Supply

Demand

Buy or Sell

New Orleans Housing Market Overview

The New Orleans real estate market is not very competitive at present. The median home price in the city has risen slightly by 1.3% year-over-year, and currently sits at $324,250. Properties stay on the market for 83 days before they go under contract. 266 New Orleans homes were sold in this month, which marks a 16.9% decrease from last year.

New Orleans' housing market offers distinctive property types, including historic French Quarter condos, Garden District mansions, and colorful Creole cottages. Over the last few years, the city has maintained stable property values with gradual appreciation. With views of the Mississippi River, its legendary cultural heritage, and vibrant musical tradition, New Orleans is a popular destination for homebuyer around the country.

Median Sale Price

# of Homes Sold

Median Days on Market

Median Sale Price

0% year-over-year

# of Homes Sold

0% year-over-year

Median Days on Market

0 year-over-year

All Home Types

1 year

3 year

5 year

New Orleans

New Orleans Housing Supply

New Orleans attracts real estate investors due to its tourism rental potential. Its cultural significance and affordability draw homebuyers from all walks of life. At present, there are 2,335 homes for sale in New Orleans, a 6% decrease YoY. This includes 653 new listings, which means buyers still have plenty of inventory options. Moreover, the city's housing supply is 8.8 months, a clear sign of a buyer's market.

More New Orleans homes hit the market during spring and summer, as both buyers and sellers aim to close before the holidays. Homes in popular neighborhoods like Marigny, and Lakeview areas maintain their demand despite extended market times. Before you make an offer, inspect properties thoroughly. Look for negotiation points and request seller concessions when possible.

# of Homes for Sale

# of Newly Listed Homes

Months of Supply

# of Homes for Sale

0% year-over-year

# of Newly Listed Homes

0% year-over-year

Months of Supply

0% year-over-year

All Home Types

1 year

3 year

5 year

New Orleans

New Orleans Housing Demand

The housing market in New Orleans is slowly cooling. Only 12.4% of homes sell above list price. Meanwhile, 26.7% of homes sell below asking price, which marks a 5.5 percentage point increase from last year. The sale-to-list price ratio sits at 95.9%. This signals that buyers hold a clear advantage when it comes to negotiation, and sellers typically receive less than their asking price. This ratio helps determine market dynamics, and at present, it strongly favors buyers.

As a home seller, price your real estate in New Orleans, LA, conservatively from the start. This helps attract interest in a buyer's market. You might need to adjust expectations given the limited above-list price sales. To maximize your property exposure in these conditions, consider listing your home on the Louisiana MLS. If you're buying a house in New Orleans, you have the upper hand. You could secure significant discounts through patient negotiation. Also, consider properties with longer market times for better deals.

Homes Sold Above List Price

Homes with Price Drops

Sale-to-List Ratio

Homes Sold Above List Price

0% year-over-year

Homes with Price Drops

0% year-over-year

Sale-to-List Ratio

0% year-over-year

All Home Types

1 year

3 year

5 year

New Orleans

Strong
Buyer

Buyer

Balanced

Seller

Strong
Seller

Buyer’s Market

Seller’s Market

Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.

New Orleans Market: When to Buy or Sell?

The New Orleans housing market shifts between seasonal patterns yearly. It generally aligns with trends in the Louisiana housing market, albeit with local variations. While prices rise modestly, inventory remains high. When the tourist season peaks in spring, selling activity increases. When hurricane season approaches, market activity temporarily slows.

With New Orleans' housing supply at 8.8 months, the market leans heavily towards buyers, unlike the more balanced US housing market. Now, buyers can take their time to evaluate their options. Sellers must stand out with competitive pricing and favorable terms. Understand these trends so you can optimally time your translation. Monitor festival schedules for additional insights.

From Hot Trends to Hidden Gems—All in Your Pocket!

The Houzeo app brings the entire real estate journey to your fingertips. Browse, list, and close—anytime, anywhere.

Download the Houzeo Mobile App Now!

Check the Real Estate Trends in Your State

Search by Top Cities in Louisiana

New Orleans Housing Market

Frequently Asked Questions

How have the average home prices in New Orleans changed over the past year?

The median home price in New Orleans has increased by 1.3% over the past year, and is currently $324,250. To know your property's fair market value, check out our free home value estimator.

What is the New Orleans housing market forecast for the near future?

New Orleans home values should remain more or less stable with minimal growth in the coming months. Demand will likely remain moderate with substantial inventory. Rising mortgage rates could affect affordability in this market.

How much do houses cost in New Orleans?

The average house price in New Orleans varies by neighborhood and architectural style. Costs typically range from $269,250 for a condo to $370,000 for single-family homes. If you want to buy a house here, find cheap homes for sale in New Orleans within your budget.

Is this a good time to buy houses for sale in New Orleans?

Check New Orleans housing market trends for supply and demand insights. This helps determine if it's a buyer's or seller's market. At present, buyers benefit from ample inventory and negotiation leverage. If you find the right housing in New Orleans and plan long-term ownership, it could be a good time to buy.

What are the current New Orleans housing market trends?

The housing market in New Orleans shows buyer-favorable conditions. Properties stay on the market longer than in most cities. Moreover, price negotiations remain common across most neighborhoods. If you want to buy or sell in New Orleans, check the city's housing market trends for the best timing.

When will the New Orleans housing market crash?

Market forecasts suggest a crash remains unlikely. Home prices continue their modest growth. Stable conditions should continue despite higher interest rates.

How to buy real estate in New Orleans, LA?

Start with a clear budget and mortgage pre-approval. Then search for New Orleans houses for sale. Submit offers, secure loans, and complete the closing process.

How can I list my houses for sale in New Orleans, Louisiana?

List your New Orleans home with a Flat Fee MLS Louisiana listing service. High-tech MLS sites like Houzeo assign the right paperwork based on your location. 🚀

What are the current mortgage rates in New Orleans?

The average mortgage rate in New Orleans fluctuates between 5.96% and 6.79%. Rates depend on market conditions and your credit score. Always check current rates with lenders.

What is the cost of living in New Orleans, Louisiana?

The price of living in New Orleans is 11% higher than the national average. Given New Orleans' cultural significance, housing is slightly more expensive compared to other cities in Louisiana. Utilities also cost more during humid summer months. However, many buyers find that the vibrant lifestyle justifies the city's living costs.

Important Legal Disclosures