Is New Orleans, LA 70117 a buyer’s or seller’s market?

The New Orleans housing market right now

In the three months ending August 31, 2026, 5% of homes in New Orleans, LA 70117 sold above their list price, the typical home went under contract in 89 days and there were 11 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 69 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 12%, homes sold faster (97 days then) and the median sale price fell 2% to $254,890. Overall, New Orleans is less competitive than a year ago, which gives buyers more room.

Within Orleans Parish, homes here sell more slowly than in 75% of the county’s ZIP codes, and sell less often over asking than in 69%. On our competition score, New Orleans ranks #156 of 160 LA ZIP codes with enough sales (score 4 out of 100).

Nearby, buyers who want less competition could look at New Orleans 70128 (0% sold over asking) or New Orleans 70112 (0% sold over asking), while New Orleans 70125 (20% sold over asking) and New Orleans 70129 (19% sold over asking) are even more competitive.