Is New Orleans, LA 70123 a buyer’s or seller’s market?

The New Orleans housing market right now

In the three months ending August 31, 2026, 13% of homes in New Orleans, LA 70123 sold above their list price, the typical home went under contract in 54 days and there were 4.1 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 73 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (13% then), homes sold more slowly (42 days then) and the median sale price held steady to $326,859. 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 60% of the county’s ZIP codes, and sell more often over asking than in 88%. On our competition score, New Orleans ranks #89 of 160 LA ZIP codes with enough sales (score 25 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) is even more competitive.