The New Orleans housing market is not very competitive. Homes in New Orleans receive 2 offers on average and sell in around 75 days. The median sale price of a home in New Orleans was $324K last month, down 5.8% since last year. The median sale price per square foot in New Orleans is $198, down 10.2% since last year.
What is the housing market like in New Orleans today?
In April 2024, New Orleans home prices were down 5.8% compared to last year, selling for a median price of $324K. On average, homes in New Orleans sell after 75 days on the market compared to 65 days last year. There were 330 homes sold in April this year, up from 318 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$323,500
-5.8% YoY | Apr 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Apr 2024
Growth
% YoY
New Orleans, LA
$323,500
-5.8%
United States
To compare other locations to the New Orleans and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. New Orleans's median sale price is 25% lower than the national average. Overall cost of living in New Orleans is 10% higher than the national average. Learn which home features in New Orleans add value to a home.
How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the New Orleans housing market?
New Orleans is not very competitive. Homes sell in 78 days.
0
100
10
Not Very Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
Multiple offers are rare.
The average homes sell for about 4% below list price and go pending in around 78 days.
Hot homes
can sell for around list price and go pending in around 40 days.
This data does not reflect actual moves. The latest migration analysis is based on a sample of about two
million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user
must have viewed at least 10 homes in a three month period. This dataset excludes all rentals data.
Home offer insights for New Orleans
Explore recent offers and recently sold homes in New Orleans
Recent offers
Offer Not Accepted|
8 Weeks Ago
~$225K Offer
Sold for $225K
3bd | 2ba | ~1,250sqft
Over List Price
0%
Days on Market
42
Competing Offers
0
Down Payment
—
Jason Gale
New Orleans Redfin Agent
4/5 - MC should've received cancellation via docusign. Cancellation is fully executed and just needs to be sent to title.…
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on New Orleans housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in New Orleans.
Risk Factor
Flood Factor - Extreme
99% of properties are at risk of severe flooding over the next 30 years
Flood Factor
New Orleans has an extreme risk of flooding. 107,201 properties in New Orleans are likely to be
severely affected
by flooding over the next 30 years. This represents 99% of all properties in New Orleans. Flood risk is increasing slower than the national average.
10% of properties are at risk of wildfire over the next 30 years
Fire Factor
New Orleans has a moderate risk of wildfire. There are 15,165 properties in New Orleans that have some risk of being affected by wildfire over the next 30 years. This represents 10% of all properties in New Orleans.
100% of properties are at extreme
risk of a severe wind event over the next 30 years
Wind Factor
New Orleans has an Extreme Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. New Orleans is most at risk from hurricanes. 150,990 properties in New Orleans have some risk of being in a severe wind event within the next 30 years.
Wind likelihood over time
If an exceedingly rare windstorm
(a 1-in-3,000 year storm event)
occurred today, it could cause wind gusts of up to 233 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 246 mph.