u/ewbankpj

I hope you had a great 4th of July, have all your fingers, and are catching some great Fifa Games.

The doubles market gave back its spring momentum this month. That is the story.

I pull 30 days of small multifamily sales data across New Orleans every month. Here is what July is showing.

Quick Reference

MOI: Months of Inventory. Active listings divided by monthly closing pace. Under 6 months = seller's market. 6-7 months = balanced. Above 7 months = buyer's market.

DOM: Days on Market. How long a property was listed before going under contract or closing.

New Orleans Doubles: Three Month Trend

	April 2026	May 2026	June 2026
Active	475	474	490
Closed (30d)	53	56	46
Median Close	$305,500	$349,000	$347,500
Median $/sqft	$158	$181	$165
Median DOM	43 days	41 days	54 days
MOI	9.0	8.5	10.7

Two months of tightening reversed in June. Active inventory ticked up. Closed sales dropped. DOM jumped from 41 to 54 days. MOI moved from 8.5 to 10.7.

Median closed price held at $347,500, essentially flat from May. The deals closing are still pricing well. Fewer of them are closing.

One month does not make a trend. Summer typically slows multifamily transaction volume in New Orleans. August will tell us whether this is seasonal or something more persistent.

New Orleans Triplexes: June 2026

Active	61
Closed (30d)	9
Median Close	$461,600
Median $/sqft	$169
Median DOM	53 days
MOI	6.8 months

Nine closings. Enough to report, not enough to lean on hard. MOI at 6.8 months sits right at the balanced market threshold. Median price holding in the range we have seen all year.

New Orleans Fourplexes: June 2026

Active	64
Closed (30d)	6
Median Close	$355,000
Median DOM	40 days
MOI	10.7 months

Six closed sales. This subset always gives a small sample size. The spread between median active list price ($507,000) and median closed price ($355,000) is your negotiating window. That $152,000 gap has shown up consistently across multiple months.

Neighborhood Spotlight: Doubles

Neighborhood	Active	Closed	Median Close	Median DOM	MOI
Uptown/Carrollton	38	10	$302,500	91 days	3.8
Bywater/Marigny	22	3	$420,000	74 days	—
Tremé	27	2	$275,000	196 days	—
Mid-City	9	2	$172,500	234 days	—
Gentilly	8	1	$325,000	351 days	—

Tremé, Mid-City, and Gentilly: one or two closings each. Not enough to calculate MOI or draw conclusions. Bywater/Marigny has three closings, take it loosely. Uptown/Carrollton is the only neighborhood with enough volume to say something reliable this month.

Uptown/Carrollton

Ten closed sales at a median of $302,500 and 91 days median DOM. MOI at 3.8 months makes this technically a seller's market for doubles. The 91-day DOM tells you buyers here are patient and selective even where supply is tighter.

Tremé

Last month: 10 closed sales at 23 days median DOM. This month: 2 closed sales at 196 days. One or two deals either way changes this number completely. Not a market shift, just a thin month. We should watch August before drawing any conclusions.

Bywater/Marigny

Three closed sales at $420,000 median. Highest closed price of any neighborhood in this report. Consistent with how Bywater has priced for the past several years.

So...

The doubles market softened in June. Prices held. Volume dropped. DOM stretched.

That contrast with the single family market is worth noting. This month's single family report showed 216 closings, 28 days median DOM, and MOI compressing from 8.2 to 5.9 in 90 days. The overall market is tightening. Multifamily is not following that lead right now.

Whether that is the summer calendar or something more persistent will show up in August data.

The gap between what sellers are asking and what buyers will pay remains wide across all three segments. The deals getting done are the ones where both sides found a number. Everything else is sitting.

If you own a double and have been watching these numbers, is June's softening affecting your thinking about timing?

Philip Ewbank, Licensed Realtor | KW New Orleans | License #0995700196

At $800K in New Orleans you'd expect plenty of options. There are 26 active listings right now, but 3 homes in this data set closed in under 3 days. The best ones aren't waiting around. Here's what the market actually looks like.

32 single-family homes and condos are listed between $795K and $825K in Orleans Parish right now. The ones priced right are gone in days. The ones that aren't have been sitting for months.

Active listings: 26
Pending / Under Contract: 3
Closed (90 days): 10
Median close price: $807,000
Median close $/sqft: $266
Median DOM (closed): 36 days
Median DOM (active):
74 days MOI: 2.9 months

Note: 10 closed sales is a thin sample at this price point. Treat these figures as showing a potential trend over the past 90 days.

2.9 months of inventory is seller's market territory on paper. But the real story is inside the data, three homes closed in 2 to 3 days. Several others have been sitting active for 100+ days. The market at $800K in New Orleans is not slow, it's very selective. Buyers are moving fast on the right product and walking away from everything else.

Here is what $799K–$825K looks like on the ground right now.

4145 Vendome Pl | Fontainebleau | $799,000
3 bed / 2.5 bath | 2,323 sqft (Courtesy of Compass Uptown-Maple St)

Georgian brick on a tree-lined street in Fontainebleau, built 1940 with a 2017 effective year. Original hardwood floors, marble mantels, custom built-in bookcases, designer lighting, high-end appliances. Formal living and dining rooms, private study, open-concept kitchen overlooking a fully fenced oversized backyard. Primary suite spans the entire width of the home. Architectural plans for a future addition and pool convey with the sale. Attached garage, gated off-street parking. 23 days on market.

2622 Lowerline St | Marlyville-Fontainebleau | $825,000
3 bed / 2 bath | 2,068 sqft (Courtesy of Berkshire Hathaway HomeServices Preferred)

Taken to the studs and rebuilt, new electrical, plumbing, HVAC, finishes, and fixtures throughout. Arts and Crafts cottage with Venetian plaster walls, Fisher & Paykel 36" gas range, Namibian white crystal marble countertops, 8-foot privacy fencing lined with Eagleston Holly trees. Two blocks from Audubon Park, walkable to Oak, Freret, and Magazine. 2026 effective year built. 42 days on market.

3501 Octavia St | Broadmoor | $799,000
4 bed / 2.5 bath | 3,521 sqft (Courtesy of Keller Williams Realty New Orleans

Most square footage in this post at $227/sqft. Contemporary design with 17-foot barrel ceilings, 500 sqft deck off the back, gas fireplace, hardwood floors, open floor plan. Corner lot in Broadmoor, convenient to universities, CBD, and hospitals. No car storage,  worth noting before you tour. Elev cert available. 65 days on market.

825 Pleasant St | Irish Channel | $819,000
3 bed / 2.5 bath | 2,312 sqft (Courtesy: listing brokerage)

1901 shotgun renovated to a 2019 effective year. Heart pine floors, 12-foot ceilings, exposed decorative brick fireplaces, antique brick patio. Two blocks from Magazine St. Bonus room works as a fourth bedroom or office. No car storage. 76 days on market.

THE MORTGAGE MATH | 4145 Vendome Pl ($799,000)

FHA is not available at this price point. Orleans Parish FHA limit is $541,287. Conventional financing only.

Mortgage math courtesy of Cameron Budzius at The Mortgage Krewe, tell him Phil sent you 😉

Scenario #1 | 10% Down Conventional

10% Down Payment

Conventional Loan | 30 Year Fixed Rate Mortgage

Sales Price: $799,000

Loan Amount: $719,100

Interest Rate: 6.60%

Monthly Payment Breakdown:

P&I: $4,603

Homeowners Insurance: $720*

Property Taxes: $758.35**

Mortgage Insurance: $180

Total Monthly Payment: $6,261

Total Cash to Close: ~$89,900

Scenario #2 | 20% Down Conventional

20% Down Payment

Conventional Loan | 30 Year Fixed Rate Mortgage

Sales Price: $799,000

Loan Amount: $639,200

Interest Rate: 6.60%

Monthly Payment Breakdown:

P&I: $4,091

Homeowners Insurance: $720*

Property Taxes: $758.35**

Mortgage Insurance: None

Total Monthly Payment: $5,569

Total Cash to Close: ~$159,800

20% down saves you $692/month and eliminates PMI entirely. The question is whether keeping $80,000 liquid is worth $692/month in carrying cost. That math is different for everyone.

*Homeowners insurance estimate provided by Riverlands Insurance. For a home in this price range in Orleans Parish, expect a ballpark of $720/month ($8,640/year). This varies significantly based on the specific property, roof age, construction type, and carrier availability. Get a real quote before you finalize your numbers.

**Property tax figure based on the current assessment for 4145 Vendome Pl with homestead exemption applied, $9,100/year ($758.35/month). When a property sells the assessment resets. Your actual tax bill will depend on the new assessed value. Verify with your lender before closing.

Philip Ewbank, Licensed Realtor | KW New Orleans | License #0995700196

Happy July! Time for hotdogs, Jaws re-runs, and hiding the dogs from the fireworks. Lets dig into some data!

In summary: Three months in a row. Inventory compressing. Closings climbing. Days on market holding tight. 

I pulled last month's single family sales data for Orleans Parish and broke it down by price tier. Here is what the market looks like right now.

The Full Market

Active	1,281 Homes
Closed (30 days)	216 Homes
Median closed price	$359,500
Median $/sqft	$206/SqFt
Median DOM	28 days
MOI	5.9 months

5.9 months of inventory puts the overall market just inside balanced territory. But that number is doing a lot of averaging across five very different markets operating at the same time. More on that. 

90-Day Trend

April	May	June
Active	1,303 Homes	1,299 Homes
Closed (30d)	159 Homes	199 Homes
Median Price	$380,000	$350,000
Median $/sqft	$195	$199
Median DOM	55 days	29 days
MOI	8.2	6.5

Active inventory has dropped every single month. Closed sales have climbed every single month. MOI has compressed from 8.2 to 5.9 in 90 days. The market is moving.

Breakdown by Price Tier

Tier	Active	Closed	MOI	Median Close	$/sqft	Median DOM
Under $300K	628	92	6.8	$185,500	$121	50 days
$300K-$500K	330	53	6.2	$405,000	$229	24 days
$500K-$800K	187	34	5.5	$620,000	$298	16 days
$800K-$1M	54	13	4.2	$870,000	$343	26 days
$1M+	82	24	3.4	$1,403,000	$397	22 days

Months of Inventory Guide: under 6 months = seller's market. 6-7 months = balanced. Above 7 months = buyer's market.

Note on $800K-$1M: 13 closed sales is a thin sample. The MOI and DOM figures are directional, not definitive. Three fewer closings would push MOI to 5.4. I’m not advocating to use this for negotiating points but for reference of broader trends. 

What the tiers are actually telling us

Entry level improved. Last month under $300K sat at 8.7 months of inventory. This month it is 6.8. Still the softest tier in the market but meaningfully better than 30 days ago. 92 homes closed at a median of $185,500 with 50 days median DOM. Buyers here have room to negotiate but it's getting tougher.

The middle of the market is balanced. $300K-$500K at 6.2 months is the most efficient band, homes moving in 24 days at $405,000 median. Neither side has a clear edge. Well-priced homes in good condition are closing in under a month.

Above $500K the market keeps tightening. $500K-$800K at 5.5 months is closing in 16 days. $1M+ at 3.4 months is closing in 22 days. The inversion holds. Luxury is moving faster than entry level and the data continues to back that up.

The $206 median price per square foot on closed sales is the highest in this three month run. What is closing is not just moving faster. It is pricing better.

What price tier are you buying or selling in right now?

Philip Ewbank, Licensed Realtor | KW New Orleans | License #0995700196

Happy July! The heat is here! Time to enjoy fireworks, good food, perhaps sometime on the water! Here is three months of Northshore sales data!

Every month I pull single family sales data for St. Tammany Parish. This month I have a three month trend worth looking at.

June 2026 City Snapshot

City	Active	Closed (30d)	Median Sold Price	Median $/sqft	Median DOM	MOI
Covington	348	92	$379,000	$177	30 days	3.8
Mandeville	180	70	$441,950	$188	16 days	2.6
Slidell	538	94	$247,400	$135	41 days	5.7
Abita Springs	113	34	$400,000	$198	34 days	3.3
Madisonville	34	12	$343,750	$203	28 days	2.8

Months of Inventory Guide: under 6 months = seller's market. 6-7 months = balanced. Above 7 months = buyer's market.

Madisonville closed sales are thin at 12 transactions. Treat those figures as gong int a particular direction.

Three Month MOI Trend

City	March	May	June
Covington	4.1	4.0	3.8
Mandeville	2.5	3.4	2.6
Madisonville	4.8	4.5	2.8
Abita Springs	4.9	5.7	3.3
Slidell	4.8	5.6	5.7

Covington

Inventory has compressed every single month since March. 3.8 MOI and 30 days median DOM on 92 closed sales. This is the volume leader on the Northshore and it is tightening steadily. Well-priced homes here are moving in a month.

Mandeville

After loosening to 3.4 MOI in May it snapped back to 2.6 in June. 70 closed sales at 16 days median DOM. Buyers competing for Mandeville homes are moving fast and the data keeps confirming it month after month.

Slidell

The one market moving in the other direction. MOI has climbed from 4.8 in March to 5.7 now. Still a seller's market but slightly softening. 94 closed sales at $247,400 median and 41 days DOM. Buyers looking for the most affordable entry point on the Northshore have the most options here right now.

Abita Springs

The surprise this month. MOI dropped from 5.7 in May to 3.3 in June. 34 closed sales at $400,000 median and 34 days DOM. That is a meaningful move in one month and a sample size large enough to take seriously. Worth watching to see if it holds in July.

Madisonville

12 closed sales treat as directional. MOI dropped to 2.8 which would make it the second tightest market in the report but the sample is too thin to lean on heavily. Median closed price $343,750 at $203/sqft and 28 days DOM.

So...

Four of five cities are tightening or holding tight. Slidell is the exception. Mandeville continues to be the most competitive market on the Northshore by every measure. Abita Springs is the number worth watching in July.

St. Tammany Parish is not one market. The city you are buying or selling in matters more than any parish-wide headline.

Which city are you watching right now?

Philip Ewbank, Licensed Realtor | KW New Orleans | License #0995700196

There are 32 single-family homes listed between $700K and $765K in St. Tammany Parish. The active listings are sitting 64 days at the median. Homes that closed in the last 90 days went under contract in 26.

I pulled data from MLS focusing on St. Tammany Parish single-family homes only. Active listings are the current snapshot. Closed sales cover the past 90 days.

Active listings	32 Homes
Pending / Under Contract	5 Homes
Closed (90 days)	23 Homes
Median active price	$736,432
Median close price	$730,000
Median close price/sqft	$211.94
Median living area (closed)	3,468 sqft
Median beds / baths (closed)	4 bed / 4 bath
Median DOM (closed)	26 days
Median DOM (active)	64 days
Longest active listing	790 days
MOI	4.2 months

4.2 months of inventory puts this in seller's market territory. The market is sorting quickly between homes that make sense and homes that don't.

Here is what three of those active listings look like.

98 Zinnia Dr | Flower Estates North, Covington | $711,000 4 bed / 3 bath | 2,685 sqft (Courtesy: United Real Estate Partners)

Waterfront on Flower Bayou on over an acre. Covered boat slip with hoist, inground pool, workshop, double carport. Louisiana cottage built 1991, raised foundation, plantation shutters, gas fireplace, sunroom. Boat and RV parking permitted. $35/year HOA. 10 days on market.

6412 Copper Valley | Copper Ridge, Mandeville | $749,900 4 bed / 3 bath | 3,073 sqft (Courtesy: Keller Williams Realty New Orleans)

2024 new construction. Chef's kitchen with butler's pantry and wine storage, outdoor kitchen, upstairs game room, dedicated office. Originally listed at $795,000. No HOA. 56 days on market.

2319 Sunset Blvd | Lakeshore Estates, Slidell | $749,000 3 bed / 2.5 bath | 2,505 sqft (Courtesy: Compass Slidell)

Waterfront in a gated community. Saltwater pool with waterfall, two outdoor bars, travertine decking, boat dock with 8,500 lb lift, 22KW whole-home generator. Originally listed at $725,000, now at $749,000. $1,500/year HOA. 38 days on market.

Three cities, three different setups at the same price. Zinnia gives you Covington waterfront on over an acre. Copper Valley gives you new construction in Mandeville. Sunset Blvd gives you a resort setup in a gated Slidell community with serious boating infrastructure.

THE MORTGAGE MATH | 6412 Copper Valley ($749,900) used as the example

Mortgage math courtesy of Cameron Budzius at The Mortgage Krewe

Note: At this price point you are above the St. Tammany Parish FHA loan limit. Conventional financing only.

Scenario 1 | 10% Down Conventional

Down Payment: $75,000

Loan Amount: $675,000

Interest Rate: 6.53% | 30-Year Fixed

Monthly Payment Breakdown:

P&I: $4,279

Homeowners Insurance: $625*

Property Taxes (with Homestead Exemption): ~$95

Mortgage Insurance (PMI): $281

Total Monthly Payment: $5,280

Estimated Cash to Close: ~$90,000

Scenario 2 | 20% Down Conventional

Down Payment: $150,000

Loan Amount: $600,000

Interest Rate: 6.53% | 30-Year Fixed

Monthly Payment Breakdown:

P&I: $3,800

Homeowners Insurance: $625*

Property Taxes (with Homestead Exemption): ~$95

Mortgage Insurance: None

Total Monthly Payment: $4,520

Estimated Cash to Close: ~$165,000

The 20% down scenario saves you $760/month and eliminates PMI. Whether keeping $75,000 liquid is worth $760/month in carrying cost is a different answer for everyone.

*Homeowners insurance estimate provided by Riverlands Insurance. Expect a ballpark of $625/month ($7,500/year) for a home in this price range in St. Tammany Parish. This varies based on property specifics, roof age, flood zone, and carrier. Get a real quote before you finalize your numbers.

Currently there are 26 single-family homes listed between $700K and $760K in Orleans Parish. The ones priced right are gone in under a month. The ones that aren't have been sitting for 74 days at the median.

I pulled data from the MLS examining Orleans Parish single-family homes only. Active listings are the current snapshot while closed sales cover the past 90 days.

Active listings	26 Homes
Pending / Under Contract	9 Homes
Closed (90 days)	23 Homes
Median active price	$747,000
Median close price	$735,000
Median close price/sqft	$306.63
Median living area (closed)	2,388 sqft
Median beds / baths (closed)	4 bed / 3 bath
Median DOM (closed)	22 days
Median DOM (active)	74 days
Longest active listing	296 days
MOI	3.4 months

3.4 months of inventory puts this in seller's market territory on paper. Homes that closed in the last 90 days went under contract in a median of 22 days. The 26 currently active have been sitting a median of 74 days. Buyers in this range are moving fast on the right homes and walking past everything else.

The closed sales concentrate in the Uptown and Garden District corridor. Active inventory skews toward Lakeview and the City Park area. Same budget, very different home depending on which part of the city you're targeting.

Here is what $700K–$749K actually looks like on the ground right now.

1499 Prentiss Ave | Oak Park | $700,000
4 bed / 3.5 bath | 3,010 sqft (Courtesy: Crescent Sotheby’s International)

Most square footage in this post at $232/sqft, well below the market median of $306. Built 2017, raised foundation, corner lot behind a full iron fence with an automatic gate. Two-car carport, outdoor living setup with mounted TV and surround sound, new HVAC and flooring. An adjoining 59x120 lot is available separately. 28 days on market.

6 Rue Le Ville St | West Lakeview | $745,000
3 bed / 3 bath | 2,310 sqft (Courtesy: Snap Realty)

Private gated street minutes from the Lakefront. French Provincial build from 2004 with extensive renovations in the last decade. Garage plus additional off-street parking, whole-home generator, sunroom, gourmet kitchen. HOA in place. 6 days on market.

514 Second St | Irish Channel | $749,000
3 bed / 2.5 bath | 2,056 sqft (Courtesy: Reve Realtors)

Smallest square footage here at $364/sqft but the location and construction tell you why. Built 2020, raised foundation, X flood zone, antique pine floors, covered porches and balconies, colonial hurricane shutters. 3 days on market.

Three different neighborhoods, three different value propositions at essentially the same price. Prentiss gives you the most house. Second St gives you Irish Channel walkability and newer construction in a preferred flood zone. Rue Le Ville gives you the Lakefront lifestyle on a private street.

THE MORTGAGE MATH | 514 Second St ($749,000) used as the example

Mortgage math courtesy of Cameron Budzius at The Mortgage Krewe

Note: At $700K you are above the Orleans Parish FHA loan limit of $541,287. FHA is not an option at this price point. Conventional financing only.

Scenario 1  10% Down Conventional

Down Payment: $70,000

Loan Amount: $630,000

Interest Rate: 6.53% | 30-Year Fixed

Monthly Payment Breakdown:

P&I: $3,994

Homeowners Insurance: $625*

Property Taxes (with Homestead Exemption): ~$95

Mortgage Insurance (PMI): $262

Total Monthly Payment: $4,976

Estimated Cash to Close: ~$84,000

Scenario 2 — 20% Down Conventional

Down Payment: $140,000

Loan Amount: $560,000

Interest Rate: 6.53% | 30-Year Fixed

Monthly Payment Breakdown:

P&I: $3,551

Homeowners Insurance: $625*

Property Taxes (with Homestead Exemption): ~$95

Mortgage Insurance: None

Total Monthly Payment: $4,271

Estimated Cash to Close: ~$154,000

The 20% down scenario saves you $705/month and eliminates PMI entirely. The question is whether keeping $70,000 liquid is worth $705/month in carrying cost. That math is different for everyone.

*Homeowners insurance estimate provided by Riverlands Insurance. For a home in this price range in Orleans Parish, expect a ballpark of $625/month ($7,500/year). This varies significantly based on the specific property, roof age, construction type, and carrier availability. Get a real quote before you finalize your numbers.

Four years ago this city was averaging 220 murders annually. The Metropolitan Crime Commission, which tracks this independently, shows homicides down 74% since 2022. Carjackings have followed the same trajectory.

It's worth examining why the decline:

Enforcement here has been targeted. The focus has been on stolen vehicles and illegal firearms, not traffic tickets and expired plates. The data gets reviewed regularly and deployment follows the crime stats.

Another piece is prosecution. Anyone arrested by state troopers operating in New Orleans gets prosecuted by the state attorney general's office rather than the local DA. That frees up capacity and created a separate track for these cases.

The third factor is more structural. A permanent state police troop was created specifically for New Orleans, the first time that has ever existed here. That troop, Troop Nola, operates alongside NOPD, the sheriff's office, federal partners, and a dedicated prosecution track simultaneously. The coordination infrastructure is new. The results followed the infrastructure.

None of this means the city's challenges are solved. Public safety in New Orleans is a long game and the numbers, while moving in the right direction, still have a long way to go in some neighborhoods.

But for anyone making a decision about buying, selling, or investing in this city, the trend matters. Sustained crime reduction is one of the variables that moves real estate markets over time.

1 in 3 active condo listings in the French Quarter has been sitting for at least 6 months. In the CBD/Warehouse District it is 1 in 4. In Uptown it is 1 in 7.

I pulled the full Orleans Parish condo numbers from the MLS this week.

What I looked at:

• 90-day closed window (March 24 to June 22, 2026) and Active Listings

French Quarter

Closed (90 days)	31 units
Active	104 units
Pending / Under Contract	12 units
Median close price	$325,000
Median close $/sqft	$473.54
Median DOM (closed)	82 days
MOI	10.1 months (Buyers Market)
Stale listings (180+ DOM)	33 of 104 (32%)

Its no secret that FQ condos are in a deep Buyer's Market. One in three active listings sitting 6 months or longer. The likely cause here is that a significant share of FQ buildings are unwarrantable. The cash buyers I work with are able to navigate the FQ condo market the easiest. Our FQ condo sellers know that a cash buyer is their ideal buyer.

CBD / Warehouse District

Closed (90 days)	34 units
Active	113 units
Pending / Under Contract	14 units
Median close price	$395,000
Median close $/sqft	$376.41
Median DOM (closed)	64 days
MOI	10 months (Buyers Market)
Stale listings (180+ DOM)	32 of 113 (28%)

Also at 10 months of inventory, the CBD is a buyer's market and looks almost identical to the FQ. The CBD moves faster and closes higher when it moves.

Uptown / Garden District

Closed (90 days)	38 units
Active	97 units
Pending / Under Contract	29 units
Median close price	$332,750
Median close $/sqft	$325.34
Median DOM (closed)	34 days
MOI	7.7 months
Stale listings (180+ DOM)	14 of 97 (14%)

The healthiest sub-market in the data. Uptown condos are largely in buildings that qualify for conventional financing. Bigger buyer pool, faster absorption.

Other Condo Markets

Marigny / Bywater

Only 5 closings in 90 days. Median close $369,000, median $/sqft $243.08, median DOM 170 days. 43% of actives are stale. The pattern tracks with the rest of the city.

Lakefront

Also 5 closings. Median close $1,075,000, median $/sqft $377.48, median DOM 126 days. Its really its own market entirely.

The FQ and CBD are buyer's markets on paper but financing is the hidden challenge. Know whether your target building is warrantable before you get attached to it. If it is not, you need cash or a lender with portfolio loan products. Uptown gives you more options on both counts.

If your unit has been sitting in the FQ or CBD, repricing may not be the answer. Your building's financing profile could be the ceiling on your buyer pool. Worth understanding before you cut the price again.

The gap between active list price and close price in CBD/Warehouse is real. Properly priced, warrantable inventory is still moving. That negotiating room has not been there in a while.

I made a post in this sub that covers warrantability in depth: Why Financing Can Make or Break Your New Orleans Condo Sale

In many cases, the answer is yes

This comes up a good bit and the Preservation Resource Center put out a good explainer recently. Key takeaways:

Brick piers don't disqualify you. Most raised New Orleans homes are eligible. The only foundation issue that can disqualify a home is dry-stack masonry, bricks stacked with no mortar. If your piers have mortar, even old lime mortar, you're almost certainly fine.

The roof won't look different. FORTIFIED standards focus on how the roof is installed, not appearance. Requirements are mostly hidden, sealed decks, fastening systems. Decorative elements like ridge tiles and finials can typically be preserved and reinstalled after the work is done.

Historic district homeowners need an extra approval step. FORTIFIED certification and historic district approval are two separate processes. If your home falls under the HDLC or VCC, you need their sign-off before work begins. Start that process early.

Original board decking needs assessment first. Many older New Orleans homes have wood board decking rather than plywood. Gaps over 1/8 inch require additional work before the project qualifies. Get a contractor to look at your decking before committing.

Full article at prcno.org, worth the read if you own an older home.

Happy to answer questions below.

A lot of people renting in New Orleans right now are wondering if buying would actually be cheaper. Before you can answer that question you need to know what rents are actually doing.

Every month I pull rental data straight from the MLS. Here is what June looks like.

June 2026 | What Renters Are Paying

Property Type	Median Rent	Median DOM
Single Family Home	$2,275	30 days
Double / Duplex	$1,600	25 days
Condo	$1,700	36 days
Triplex / Fourplex Unit	$1,500	35 days

Three Month Trend

Property Type	April	May	June
Single Family	$2,275	$2,100	$2,275
Double / Duplex	$1,600	$1,600	$1,600
Condo	$2,000	$1,825	$1,700
Triplex / Fourplex	$1,463	$1,525	$1,500

A few things I want to flag in that data.

Doubles have been $1,600 for three straight months. Doubles are the most common rental type in New Orleans so it matters more than any other number in this report.

Condo rents have dropped every single month since April. Down $300 in 90 days. If you own a condo and are considering leasing it out, its important to get in front of the market and advertise an attractive price to get a quick tenant.

Single family dipped in May and came right back. The market for houses is holding.

How Fast Are Things Moving

Correctly priced units are not sitting long. Doubles are moving in 25 days. Houses in 30. Condos and small multifamily around 35 to 36 days.

If something has been sitting longer than that it is almost always a pricing problem. Not a demand problem.

If You Have Been Renting for a While and Wondering Whether It Still Makes Sense

At $1,600 for a double and $2,275 for a house those monthly numbers are worth comparing against what a mortgage might look like on a similar property. That math is going to be different for everyone but it is a question more people should be asking right now.

Whether you are paying rent or a mortgage you are paying someone's mortgage. The only question is whether it is yours or your landlord's.

Happy to answer questions below.

Every month I pull 30 days of small multifamily sales data across New Orleans. This month I am adding a three month view on doubles and triplexes where the data is thick enough to trend.

Quick Reference

MOI: Months of Inventory. How long it would take to sell all active listings at the current pace of sales. Under 5 months = seller's market. Over 7 months = buyer's market. 5-7 months = balanced.

DOM: Days on Market. How long a property was listed before going under contract or closing. Median DOM is more reliable than average in markets with outliers.

Closed:  A completed sale or lease in the last 30 days unless otherwise noted.

Under Contract: Active listings with an accepted offer that have not yet closed. Includes Pending and Pending Continue to Show.

Here is what June is showing.

New Orleans Doubles: Three Month Trend

	April 2026	May 2026	June 2026
Active	475	474	474
Closed (30d)	53	56	54
Median Closed Price	$305,500	$349,000	$359,500
Median $/sqft	$158	$181	$167
Median DOM	43 days	41 days	31 days
MOI	9.0	8.5	8.8

Active inventory has been essentially unchanged for three months, hovering at 474 to 475 units. Closed sales are holding steady in the low 50s. But inside that flat inventory picture two things are moving in the same direction every month: prices up, DOM down.

Median closed price has climbed $54,000 in three months. Median DOM has dropped from 43 to 31 days. In a buyer's market by MOI the homes that are trading are trading faster and at higher prices. The well-positioned doubles are not waiting around.

New Orleans Triplexes: Three Month Trend

	April 2026	May 2026	June 2026
Active	68	63	61
Closed (30d)	5	3	14
Median Closed Price	$435,000	$400,500	$437,500
Median DOM	38 days	31 days	25 days
MOI	13.6	21.0	4.4

Treat the MOI swing with caution. The jump from 21.0 to 4.4 is largely a function of May's thin closed count, 3 sales, rather than any kind of market shift. What is consistent across all three months is DOM tightening and median price holding in the $400K range. Investors are finding the right deals and moving on them. Months of Inventory may not be as useful here, I would focus on the consistent amount of Active homes and closed prices.

New Orleans Fourplexes: June 2026 Snapshot

	June 2026
Active	65
Closed (30d)	6
Median Closed Price	$272,500
Median $/sqft	$139
Median DOM	40 days
MOI	10.8

So the sample size for 4plx looked too thin for a three month trending report: two closed sales in May makes any comparison unreliable. Reporting current snapshot only. Regardless, the 4plx marketremains a deep buyer's market. The spread between median active price ($499,000) and median closed price ($272,500) tells you where buyers are drawing the line.

Neighborhood Spotlight: Doubles

Neighborhood	Active	Closed (30d)	Median Closed Price	Median DOM	MOI
Tremé	23	10	$299,500	23 days	2.3
Carrollton	16	3	$555,000	100 days	5.3
Gentilly	15	2	$187,500	46 days	7.5
Mid-City	37	2	$250,000	75 days	18.5

Gentilly, Mid-City, and Carrollton closed sales are thin this month: 2, 2, and 3 transactions respectively. I would treat those as directional as last month’s report showed 4.5 months of inventory.

Tremé

Tremé is the standout neighborhood in this report. 10 closed sales in 30 days at a median of $299,500 and 23 days median DOM. Last month's Tremé deep dive showed a bifurcated market, correctly priced deals moving fast while everything else sat. June suggests that the gap is closing with volume picking up across the board.

At 23 active units and 10 closings the sample is thin enough that MOI is directional rather than definitive. But the DOM trend is consistent with what we saw in May and that is the more reliable signal here.

What this means for you

Buyers: Citywide doubles at 8.8 months of inventory give you negotiating room, but not in Tremé. If you are looking at Tremé doubles you are in a seller's market. Mid-City is where leverage is highest right now.

Sellers: Three consecutive months of rising prices and tightening DOM on doubles is the most encouraging trend in this data. The market is moving in your direction even in a supply-heavy environment, but only for well-positioned and correctly priced assets.

Investors: Tremé at 2.3 months MOI and sub-$300K median closed price is the most interesting acquisition data point in this report. Underwrite conservatively on vacancy given broader rental softness across the parish but the entry price relative to demand is worth serious attention.

Every month I pull the single family sales data for Orleans Parish. This month I went a step further and broke it down by price tier. What I found: the New Orleans market is not one market right now, it's five, and they're moving in different directions.

June 2026 New Orleans Sales Market Report Data: May 2026 MLS closings, all active and pending as of June 1

The Full Market

	Active	Pending	Closed (30d)	MOI
Count	1,334	375	218	6.1
Median Price	$309K	$310K–$350K	$377K
Median $/sqft	$175	$155–$201	$218
Median DOM	72 days	28–37 days	23 days

Months of Inventory of 6.1 puts the overall market at right in the center of a balanced market. This is has changed little in the past few months. But that number may be masking the number’s deeper in the market.

The Breakdown by Price Tier

Price Tier	Active	Closed (30d)	MOI	Median Close	Close $/sqft	Median DOM
Under $300K	659	76	8.7	$198K	$129	38 days
$300K–$500K	349	62	5.6	$361K	$225	26 days
$500K–$800K	197	48	4.1	$632K	$265	18 days
$800K–$1M	54	13	4.2	$882K	$296	11 days
$1M+	82	22	3.7	$1.26M	$385	9 days

Month of Inventory guide: under 5.5 = seller's market · 5.5-6.5 = balanced · above 6.5 = buyer's market

What the data is actually saying

The entry-level market is struggling. Under $300K sits at 8.7 months of inventory with 659 active listings chasing 76 monthly closings. If you're buying under $300K right now, you should feel like you can negotiate. If you're selling, condition and pricing have to be right or you're sitting.

The middle of the market is balanced. The $300K–$500K tier at 5.6 MOI is the most efficient band in the city, homes moving in 26 days at a median close of $361K. Neither side has a significant edge here. Honestly a great spot for everyone.

Above $500K, the market flips entirely. The $500K–$800K band closes in 18 days. The $800K–$1M band closes in 11 days. And the $1M+ segment, 3.7 MOI, is closing in a median of 9 days. New Orleans luxury is moving faster than entry-level right now.

What this means for you

Buyers under $300K: you have time and negotiating room — use it. Ask for concessions, don't rush.

Buyers $300K–$500K: balanced market, move with purpose. Well-priced homes in good condition are moving in under a month.

Buyers $500K+: if you find the right home, move fast. This segment is competitive and the data backs that up.

Sellers under $300K: pricing discipline is everything. Overpriced homes at this tier are sitting.

Sellers $500K+: you're in a strong position. Properly prepared and priced homes are finding buyers in days, not weeks.

What price range are you shopping or selling in right now? The market experience is very different depending on where you are.

1 Charlotte Dr. | Vista Park | $549,000
4 bed / 2.5 bath | 2,965 sqft (Courtesy:  Compass Uptown-Maple St)

Corner lot in Vista Park, fully refreshed inside and out. Refinished hardwood floors, quartz kitchen, new stainless appliances, oversized primary suite with custom walk-in. New roof from 2022, Rain Bird irrigation, double driveways, full fencing. Sunroom and flex room add living space that doesn't show up in the sqft number. 17 days on market.

840 Tchoupitoulas St #309 | Warehouse District | $549,000
2 bed / 2 bath | 1,339 sqft (Courtesy: Shelnutt Real Estate Enterprises) Condo dues $1,008/mo

Half the square footage, completely different lifestyle. Concrete floors, balcony with BBQ grill, murphy bed, deeded garage parking, community pool, fitness center, and a 6x12 private storage unit in a building that's been meticulously maintained. Walking distance to galleries, restaurants, and the riverfront. 14 days on market.

5033 Paris Ave | Mirabeau Gardens | $549,000
4 bed / 3 full + 2 half bath | 3,632 sqft (Homesmart Realty South)

Most square footage at this price point in this post. Ground floor primary suite, movie theater, 2-car garage, horseshoe driveway, vaulted ceilings, wet bar, marble counters. Steps from the Mirabeau Water Garden project. Built 2015. 7 days on market.

209-211 Audubon St | Uptown | $565,000
3-plex / 7 bed / 4 bath | 3,055 sqft total (Courtesy: KELLER WILLIAMS REALTY 455-0100)

Same ballpark budget, completely different use case. Three units steps from Audubon Park, Magazine St, and the zoo. Two units currently vacant with fresh paint, one long-term tenant in place generating $1,500/mo. Two separate garages, off-street parking, elevated decks facing the park. The first floor can optionally split into two units, giving you a potential four-unit configuration. Metal roof. 8 days on market.

THE MORTGAGE MATH  1 Charlotte Dr

Mortgage math courtesy of Cameron Budzius at The Mortgage Krewe

Scenario #1 — 3% Down Conventional

3% Down Payment

Conventional Loan | 30 Year Fixed Rate Mortgage

Sales Price: $549,000

Loan Amount: $532,530

Interest Rate: 6.59%

Monthly Payment Breakdown:

P&I: $3,398

Homeowners Insurance: $667*

Property Taxes (with Homestead Exemption): $89.69

Mortgage Insurance: $133

Total Monthly Payment: $4,288

Total Cash to Close: $30,970

Scenario #2 — 3.5% Down FHA

3.5% Down Payment

FHA Loan | 30 Year Fixed Rate Mortgage

Sales Price: $549,000

Loan Amount: $539,056 (includes 1.75% UFMIP financed)

Interest Rate: 6.12%

Monthly Payment Breakdown:

P&I: $3,277

Homeowners Insurance: $667*

Property Taxes (with Homestead Exemption): $89.69

Mortgage Insurance: $382

Total Monthly Payment: $4,496

Total Cash to Close: $34,215

FHA saves you $208/month but costs you $3,245 more at closing. FHA loan limit for Orleans Parish is $541,287, the loan amount here is $539,056, so you're inside the limit, but just barely. Confirm with your lender.

*Homeowners insurance estimate provided by Riverlands Insurance. For a home in this price range in Orleans Parish, expect a ballpark of $333–$667/month ($4,000–$8,000/year). This varies significantly based on the specific property, roof age, construction type, and carrier availability. Get a real quote before you finalize your numbers, this range can have outliers in both directions.

Same budget. Four completely different homes across Covington, Mandeville, and Madisonville.

1336 Avenue Lacroix | Covington | $550,000
4 bed / 3 bath | 2,710 sqft HOA: $495/yr ($41.25/mo) (Courtesy:NOLA Living Realty)

French Country single-story in the Versailles subdivision, built 2013 and impeccably maintained. Split floorplan, no carpet throughout, gas fireplace, five-burner gas cooktop, butler's pantry, and a Jack-and-Jill bath connecting two guest rooms. Brick covered patio, wood privacy fence, mini-split in the garage, and a mudroom drop zone off the entry. Community pool. 10 days on market.

406 Carroll St | Mandeville | $565,000
3 bed / 2 bath | 1,797 sqft (Courtesy: Crescent Sotheby's Intl Realty)

Raised cottage two blocks from the Mandeville lakefront, fully renovated with a 2026 effective year built. Hardwood floors, sunroom, seamless flow from living to dining to kitchen. Expansive back deck, front porch that captures the neighborhood feel. Least square footage in this post, highest price per sqft, the location is doing the work here. 35 days on market. No HOA

655 Barbara Pl | Mandeville | $549,900
4 bed / 2.5 bath | 2,798 sqft HOA: $100/yr ($8.33/mo) ( 1 Percent Lists)

Updated in 2016 in New Golden Shores, this two-story has two living areas, open kitchen with modern finishes, and a backyard oasis with an inground pool, cabana, and outdoor kitchen. Wood fireplace, large primary suite, carport. 43 days on market, most time on market in this post.

1248 Sweet Clover Wy | Madisonville | $549,000
4 bed / 3 bath | 2,530 sqft HOA: $500/yr ($41.67/mo) (Courtesy: Compass Madisonville)

Built 2020 in Spring Haven, Madisonville. Open floor plan, quartz counters, beverage station with wine cooler, custom window treatments, fully fenced backyard, community pool. Dual climate control systems. Newest build in this post by several years. 51 days on market.

THE MORTGAGE MATH: 1336 Avenue Lacroix

Mortgage math courtesy of Cameron Budzius at The Mortgage Krewe, tell him Phil sent you 😉

Scenario #1 — 3% Down Conventional

3% Down Payment

Conventional Loan | 30 Year Fixed Rate Mortgage

Sales Price: $550,000

Loan Amount: $533,500

Interest Rate: 6.59%

Monthly Payment Breakdown:

P&I: $3,404

Homeowners Insurance: $667*

Property Taxes: verify with your lender — varies by municipality in St. Tammany Parish

Mortgage Insurance: $133

Total Monthly Payment: ~$4,204 (excl. taxes)

Total Cash to Close: ~$31,000

Scenario #2 — 3.5% Down FHA

3.5% Down Payment

FHA Loan | 30 Year Fixed Rate Mortgage

Sales Price: $550,000

Loan Amount: $539,769 (includes 1.75% UFMIP financed)

Interest Rate: 6.12%

Monthly Payment Breakdown:

P&I: $3,282

Homeowners Insurance: $667*

Property Taxes: verify with your lender, varies by municipality in St. Tammany Parish

Mortgage Insurance: $382

Total Monthly Payment: ~$4,331 (excl. taxes)

Total Cash to Close: ~$34,270

FHA saves you ~$127/month but costs you ~$3,270 more at closing. FHA loan limit for St. Tammany Parish is $541,287, loan amount here is $539,769, so you're inside the limit, but just barely. Confirm with your lender.

*Homeowners insurance estimate provided by Riverlands Insurance. For a home in this price range in St. Tammany Parish, expect a ballpark of $333–$667/month ($4,000–$8,000/year). This varies significantly based on the specific property, roof age, construction type, and carrier availability. Get a real quote before you finalize your numbers, this range can have outliers in both directions.

Tremé is one of the oldest African American neighborhoods in the country. It sits just north of the French Quarter, bordered by Rampart Street, St. Bernard Avenue, and the edge of the Seventh Ward. The housing stock is dense, Creole cottages, shotguns, and doubles packed onto narrow lots that have housed musicians, second line leaders, and multi-generational families for over a century.

Here is Deep Dive on the real estate in Tremé looking at the single family homes, doubles and rentals.

Single Family Sales

	Active	Under Contract	Closed (90 days)
Count	28	9	8
Median price	$350,000	$335,000	$396,500
Median $/sqft	$200	$205	$203
Median DOM	82 days	57 days	41 days
Months of inventory	10.5 Buyer's Market

With 10.5 months of inventory, this signals a buyer's market territory, but context matters, Tremé is a small neighborhood and 8 closings in 90 days is a thin sample. The more telling number is 9 homes under contract against 28 active, about 32% of inventory is in motion. Homes that do close are doing so at a median of $396,500 in 41 days, which is not a distressed market. Buyers have options and time, but correctly priced homes are still moving.

Multifamily

	Active	Under Contract	Closed (90 days)
Count	25	2	9
Median price	$358,999	$287,000	$299,000
Median $/sqft	$176	$125	$188
Median DOM	102 days	116 days	19 days
Months of inventory	8.3 Buyer's Market

25 active multifamily listings, only 2 under contract, but 9 closings in 90 days. That 19-day median DOM on closings is the number worth watching, when multifamily deals get done in Tremé they're closing fast. The disconnect between active inventory sitting at 102-day median DOM and closings happening in 19 days tells you the market is bifurcated: correctly priced properties sell quickly, everything else sits.

Rentals

	Active	Pending	Leased (90 days)
Count	38	8	25
Median rent	$1,600	$1,425	$1,500
Median DOM	45 days	65 days	32 days

38 active rentals with 25 leased in 90 days, roughly 8 per month. Steady absorption. Median active rent of $1,600 versus median leased rent of $1,500 suggests landlords are reducing about $100 off asking on average. Units are moving at 32-day median DOM, not lightning fast but consistent.

What it means

Buyers: 10.5 months of inventory means you have time and leverage. Don't confuse that with a distressed market, correctly priced homes are still closing in 41 days.

Sellers: Active listings are sitting 82 days on average. Price is the variable you control. The homes getting to the closing table are doing it in 41 days.

Investors: 19-day median DOM on multifamily closings is the most interesting number in this dataset. The deals that get done here get done quickly, again, small sample size but know your numbers.

Renters: 38 active units. Your average rental price is $1,500. If a rental is priced higher it should have worthwhile amenities.  

Every Wednesday our brokerage discusses deals we are eyeing. Each agent brings their best find from the MLS, we run the numbers, and vote on a winner. Here's what made the cut this week.

🏠 527 S Galvez St, New Orleans, LA 70119 | $290,000
(Homesmart Realty South)

Double · Orleans Parish · Mid-City · 1,644 sqft · $176/sqft · Raised foundation · 12-ft ceilings · Granite · Wood floors · Off-street parking · Fenced · 4 price cuts from $350,000 · 6 months on market · Sold as-is

Estimated market rent: ~$3,200/month

The list price is not the deal price. Six months on market, four cuts, one expiration and relist, this seller has room to move. The numbers work at $250,000.

🏘 3221-33 Upperline St, New Orleans, LA 70125 | $389,000
(Galiano Realty)

Triplex · Orleans Parish · Broadmoor · 4,016 sqft · $97/sqft · Built 1940 · Effective 2020 · All 3 units occupied · Hardwood floors · Separate meters · Off-street parking · Sold as-is

Cap rate: 7.36% · Gross rent: $4,940/month

Fully occupied, cash flowing from day one, hardwood floors in a 1940 Broadmoor building updated in 2020. Workable at current rates for the right buyer.

🏢 2545 Agriculture St, New Orleans, LA 70122 | $489,000
(Snap Realty)

7 units · Orleans Parish · Gentilly · 4,400 sqft · $111/sqft · Built 1958 · Effective 2015 · Both roofs replaced post-Ida · 6/7 units occupied · MU-1 zoning · Commercial ground floor potential · Listed today · Sold as-is

Cap rate: 8.28% · Gross rent: $5,570/month · Cash flow: ~$900/month

Seven units in Gentilly with a vacant commercial ground floor that can be built out for additional income. One of the stronger cap rates in Orleans Parish multifamily right now.

Full breakdown with rent comps, DSCR, and negotiation math on each deal over on my Substack. Link in bio.

I have worked with a number of veteran buyers in New Orleans and one thing I've noticed is that most of them don't know the full picture of what they're entitled to. 

Three things worth understanding: the VA loan, the Louisiana property tax exemption, and home insurance. Most veterans have heard of the VA loan. Not all know about the other two.

The VA Loan

The VA loan is one of the most powerful home buying tools available anywhere in the country:

• No down payment required
• No private mortgage insurance (PMI)
• Competitive interest rates
• No prepayment penalty
• Available on primary residences

If you have served and haven't explored a VA loan, start there.

The Louisiana Disabled Veteran Property Tax Exemption

Louisiana is one of the most veteran-friendly states in the country for property tax relief. Here's how it works based on your VA disability rating:

VA Disability Rating	Property Tax Exemption
50–69%	Additional $2,500 of assessed value exempt
70–99%	Additional $4,500 of assessed value exempt
100% or totally disabled	Exempt from ALL property taxes

These exemptions stack on top of Louisiana's standard homestead exemption.

What does that actually mean in dollars?

Louisiana properties are assessed at 10% of fair market value. On a $400,000 home a 100% disabled veteran pays essentially $0 in property taxes. The exemption also extends to surviving spouses of disabled veterans.

Home Insurance: USAA Is Worth a Serious Look

If you're eligible for USAA,  available to veterans, active duty military, and their families,  their home insurance is worth pricing out before you go anywhere else.

In Louisiana, USAA offers wind mitigation discounts ranging from 19% to 37% on the wind portion of your premium. It's probably the best deal you can get for insurance in New Orleans.

Combined with a wind mitigation survey, a USAA-eligible veteran buying in New Orleans could be looking at meaningful annual savings on top of everything else.

Two things worth knowing:

• Wind mitigation discounts apply to the wind portion of your premium only, not flood
• The survey runs $250–$300 and pays for itself many times over if your home qualifies

I have a breakdown of how wind mitigation surveys work here.

The Bottom Line

Benefit	Who Qualifies
VA Loan: no down payment, no PMI	Any eligible veteran
Property tax exemption up to 100%	Veterans with 50%+ disability rating
USAA wind mitigation discount 19–37%	Veterans and their families

If you're a veteran or know a veteran thinking about buying in New Orleans I’d consider exploring these benefits.

The $450k price point is an interesting one as it provides different lifestyles dependent on the neighborhood in the Northshore. Below are five active listings at one price point in St. Tammany Parish, May 2026.

2033 Prestwood Ln | $459,900
3 bed / 2.5 bath / 1,920 sqft | Covington | The Preserve at River Chase

Built 2023. New construction feel with LVP floors, quartz counters, covered outdoor kitchen, and attached two-car garage. Two-story cottage style in a subdivision just off the interstate. At $239/sqft you're paying for newness and location convenience.

708 Rue Bourdeaux | $465,000
4 bed / 3 bath / 2,261 sqft | Covington | Village of Normandy

Oaks Built 2013, renovated to effectively 2020. Cul-de-sac lot with pond views, custom cypress cabinetry, induction cooktop, soaking tub, and a guest suite off the kitchen. 2022 roof and an assumable flood policy in place — that last part matters. $205/sqft.

14272 S Lakeshore Dr | $465,000
3 bed / 3 bath / 2,569 sqft | Covington | Lake Ramsey

Built 1996, effective 2010. Lakefront in a gated community with a pier, gazebo, sunroom, whole house generator, and new HVAC with ductwork as of 2026. Most rooms have water views. Lowest $/sqft of the bunch at $181 — older build but well maintained and loaded with extras.

2040 Cypress Bend Ln | $445,000
4 bed / 2 bath / 2,256 sqft | Madisonville | Bedico Creek

Built 2018. Open concept with barn door office, farmhouse sink, quartz counters, coffered primary ceiling, and a community that includes two pools and 3.5 miles of walking trails. Flood Zone C. Note: HOA is $1,050/year — factor that in. $197/sqft.

102 Mayers Tr | $450,000
4 bed / 3 bath / 3,210 sqft | Slidell | The Woods
Built 2000. Chicago used brick construction on 1.59 acres with live oaks, 10–11 ft ceilings, butler's pantry, three-car garage, whole house Generac (1 year old), brand new roof, and two AC units replaced within the last 4 years. Succession property — priced accordingly at $140/sqft. Most house for the money on this list.

Below are two scenarios courtesy of Cameron Budzius at The Mortgage Krewe. Note the homeowners insurance estimate provided by Riverlands Insurance. 

Also, let's talk about insurance…

For a home in this price range in Orleans Parish, expect a ballpark of $333–$583/month ($4,000–$7,000/year). This figure comes from an agent I work with at Riverlands Insurance.

This varies significantly based on the specific property, roof age, construction type, and carrier availability. Get a real quote before you finalize your numbers, this range can have outliers in both directions.

Scenario #1
3% Down Conventional

Conventional Loan 30 Year Fixed Rate Mortgage

Sales Price: $450,000

Loan Amount: $436,500

Interest Rate: 6.44%

Monthly Payment Breakdown:

P&I: $2,745.32

Homeowners Insurance: $333–$583/mo*

Property Taxes (with Homestead Exemption): $89.69

Mortgage Insurance: $181.88

Total Monthly Payment: $3,350–$3,600/mo

Cash to Close:

Down Payment: $13,500.00

Closing Costs: $8,500.00

Prepaids and Escrows: $7,000.00

Total Cash to Close: $29,000.00

Scenario #2 — 3.5% Down FHA

FHA Loan 30 Year Fixed Rate Mortgage

Sales Price: $450,000

Loan Amount: $441,849

Interest Rate: 5.95%

Monthly Payment Breakdown:

P&I: $2,632.18

Homeowners Insurance: $333–$583/mo*

Property Taxes (with Homestead Exemption): $89.69

Mortgage Insurance: $202.60

Total Monthly Payment: $3,257–$3,507/mo

Cash to Close:

Down Payment: $15,750.00

Closing Costs: $8,500.00

Prepaids and Escrows: $7,000.00

Total Cash to Close: $31,250.00

Note: FHA requires 3.5% down vs 3% conventional, which is why cash to close is higher despite the lower monthly payment.

These are estimates. For exact figures, reach out to Cameron Budzius at The Mortgage Krewe and tell him Phil sent you 😉