Is New Orleans, LA 70121 a buyer’s or seller’s market?

The New Orleans housing market right now

In the three months ending August 31, 2026, 6% of homes in New Orleans, LA 70121 sold above their list price, the typical home went under contract in 81 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 37 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 9%, homes sold more slowly (33 days then) and the median sale price fell 7% to $256,389. Overall, New Orleans is less competitive than a year ago, which gives buyers more room.

Within Jefferson Parish, homes here sell more slowly than in 87% of the county’s ZIP codes, and sell less often over asking than in 69%. On our competition score, New Orleans ranks #143 of 160 LA ZIP codes with enough sales (score 11 out of 100).

Nearby, buyers who want less competition could look at Grand Isle 70358 (0% sold over asking) or Lafitte 70067 (0% sold over asking), while Westwego 70094 (19% sold over asking) and Harvey 70058 (14% sold over asking) are even more competitive.