Is New Orleans, LA 70128 a buyer’s or seller’s market?
New Orleans is a buyer’s market. With about 7.8 months of supply, buyers usually have more time and more room to negotiate on price and terms.
More competitive than 0% of U.S. ZIP codes, and #160 of 160 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The New Orleans housing market right now
In the three months ending August 31, 2026, 0% of homes in New Orleans, LA 70128 sold above their list price, the typical home went under contract in 107 days and there were 7.8 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 19 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 8%, homes sold faster (115 days then) and the median sale price held steady to $198,664. Overall, New Orleans is less competitive than a year ago, which gives buyers more room.
Within Orleans Parish, homes here sell more slowly than in 87% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county. On our competition score, New Orleans ranks #160 of 160 LA ZIP codes with enough sales (score 2 out of 100).
Nearby, New Orleans 70125 (20% sold over asking) and New Orleans 70129 (19% sold over asking) are even more competitive.
Run the numbers for 70128
Nearby markets
New Orleans 70112Buyer’s market $408 /sq ftNew Orleans 70113Buyer’s market $141 /sq ftNew Orleans 70114Buyer’s market $150 /sq ftNew Orleans 70115Seller’s market $342 /sq ft Browse all markets →Towns like New Orleans nearby
Find towns like New Orleans in other states →Where New Orleans is
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Questions about New Orleans real estate
Is New Orleans a buyer’s or seller’s market?
A buyer’s market: there were 7.8 months of supply in New Orleans, LA 70128 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in New Orleans?
The typical home went under contract in 107 days in the latest three months.
Do homes in New Orleans sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 92.9% of the list price.
What are property taxes in New Orleans?
About 0.83% of a home’s value a year in Orleans Parish, or roughly $3,320 on a $400,000 home.
What is the median home price in New Orleans?
The median sale price was $198,664 in the three months ending August 31, 2026, about $87 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology