Is New Orleans, LA 70124 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 70124 sold above their list price, the typical home went under contract in 54 days and there were 3.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 108 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 5%, homes sold faster (63 days then) and the median sale price rose 8% to $574,751. Overall, New Orleans is more competitive than a year ago, so tougher for buyers.

Within Orleans Parish, homes here sell faster than in 88% of the county’s ZIP codes, and sell more often over asking than in 69%. On our competition score, New Orleans ranks #70 of 160 LA ZIP codes with enough sales (score 30 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.