Is New Orleans, LA 70122 a buyer’s or seller’s market?

The New Orleans housing market right now

In the three months ending August 31, 2026, 10% of homes in New Orleans, LA 70122 sold above their list price, the typical home went under contract in 64 days and there were 5.5 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 98 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 15%, homes sold about as fast and the median sale price rose 2% to $283,877. Overall, New Orleans is less competitive than a year ago, which gives buyers more room.

Within Orleans Parish, homes here sell faster than in 63% of the county’s ZIP codes, and sell more often over asking than in 50%. On our competition score, New Orleans ranks #124 of 160 LA ZIP codes with enough sales (score 17 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.