Is New Orleans, LA 70112 a buyer’s or seller’s market?
New Orleans is a buyer’s market. With about 16.4 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The New Orleans housing market right now
In the three months ending August 31, 2026, 0% of homes in New Orleans, LA 70112 sold above their list price, the typical home went under contract in 77 days and there were 16.4 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 7 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold faster (236 days then) and the median sale price rose 8% to $292,873. Overall, New Orleans is more competitive than a year ago, so tougher for buyers.
Within Orleans Parish, homes here sell more slowly than in 62% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, New Orleans 70125 (20% sold over asking) and New Orleans 70129 (19% sold over asking) are even more competitive.
Run the numbers for 70112
Nearby markets
New Orleans 70113Buyer’s market $141 /sq ftNew Orleans 70114Buyer’s market $150 /sq ftNew Orleans 70115Seller’s market $342 /sq ftNew Orleans 70116Buyer’s market $275 /sq ft Browse all markets →Towns like New Orleans nearby
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Questions about New Orleans real estate
Is New Orleans a buyer’s or seller’s market?
A buyer’s market: there were 16.4 months of supply in New Orleans, LA 70112 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in New Orleans?
The typical home went under contract in 77 days in the latest three months.
Do homes in New Orleans sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 96.7% of the list price.
What are property taxes in New Orleans?
About 0.83% of a home’s value a year in Orleans Parish, or roughly $3,320 on a $400,000 home.
What is the median home price in New Orleans?
The median sale price was $292,873 in the three months ending August 31, 2026, about $408 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology