Is New Orleans, LA 70118 a buyer’s or seller’s market?

The New Orleans housing market right now

In the three months ending August 31, 2026, 14% of homes in New Orleans, LA 70118 sold above their list price, the typical home went under contract in 48 days and there were 4.4 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 118 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 7%, homes sold faster (55 days then) and the median sale price rose 4% to $424,816. Overall, New Orleans is more competitive than a year ago, so tougher for buyers.

Within Orleans Parish, homes here sell faster than in 94% of the county’s ZIP codes, and sell more often over asking than in 81%. On our competition score, New Orleans ranks #80 of 160 LA ZIP codes with enough sales (score 27 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.