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How Fast Are New Orleans Homes Selling Right Now? | October 2026

Boo!

Happy October everyone!

The skeleton house is in full force, its feeling marginally cooler outside, and the Saints are losing on Primetime. It must be fall!

So what is going on with our market?

In summary: Orleans Parish moved into buyer's market territory. The median sale price fell $66,000 in a month, but that's mostly a change in which homes sold, not necessarily homes losing value.

I pulled last month's single family sales data for Orleans Parish and broke it down by price tier.

Quick Months of Inventory (MOI) Guide:

  • Under 6 months = seller's market.
  • 6–7 months = balanced.
  • Above 7 months = buyer's market.

DOM = Days on Market until a house goes under contract.

The Full Market

Active 1,225 homes
Closed (30 days) 151 homes
Median closed price $299,000
Median $/sqft $174
Median DOM 42 days
MOI 8.1 months

8.1 months of inventory puts the overall market in a clear buyer's territory. But that number averages together all of our diverse neighborhood markets.

90-Day Trend

July August September
Active 1,252 1,198
Closed (30d) 169 187
Median Price $365,000 $365,000
Median $/sqft $217 $207
Median DOM 32 days 48 days
MOI 7.4 6.4

Here's why the median is showing a drop. Half of September's closings (76 of 151) were under $300K, up from 36% the month before. Closings over $1M fell from 24 to 11. Fewer expensive homes sold, so the median slid. Inside the $300K to $500K tier, the median price actually went up check out below.

Breakdown by Price Tier

Tier Active Closed MOI Median Close $/sqft Median DOM
Under $300K 636 76 8.4 $162,750 $119 50 days
$300K–$500K 305 32 9.5 $372,750 $189 20 days
$500K–$800K 179 21 8.5 $590,000 $292 46 days
$800K–$1M 37 11 3.4 $850,000 $253 102 days
$1M+ 68 11 6.2 $1,400,000 $412 7 days

Note on the top two tiers: 11 closings each is a thin sample size. Three fewer closings in $800K–$1M would push MOI from 3.4 to 4.6. So as usual with these reports, take it with a grain of salt.

What the tiers are actually telling us

  • Entry level is the only tier that got busier. Closings rose from 67 to 76 and DOM dropped from 71 days to 50. MOI is still 8.4, so buyers have leverage, but sellers priced right are getting there faster.
  • The middle went soft. $300K–$500K jumped from 6.6 to 9.5 months of inventory as closings fell from 47 to 32. Yet the homes that did sell went in 20 days. That's a market split in two: priced right sells in three weeks, and everything else sits.
  • $500K–$800K cooled the most. MOI went from 5.1 to 8.5 and closings nearly halved.
  • Luxury slowed but didn't stall. $1M+ closings fell from 24 to 11, but the ones that sold went in a median of 7 days at $412 a foot.

So how does this compare from last year?

Same Month, One Year Later

October 2025 October 2026
Closed (30d) 188
Median Price $302,000
Median DOM 49 days

Prices are flat year over year but the volume is not showing that 20% fewer homes closed than last October. And this makes sense, right? Interest rates were going up last month which is going to slow buyer activity. I expect November's and December's numbers to really show a reaction those rates.

Let's break it down by neighborhood.

Neighborhood Spotlights

Neighborhood Active Closed Median Close $/sqft Median DOM Market
Uptown 54 19 $800,000 $355 23 days Seller's (2.8 MOI)
Algiers* 144 24 $172,500 $115 35 days Balanced (6.0 MOI)
Gentilly 110 17 $235,000 $171 50 days Balanced (6.5 MOI)
New Orleans East 153 16 $136,500 $83 43 days Buyer's (9.6 MOI)
Algiers Point 37 4 $507,450 $220 116 days Too few sales
Lakeview 29 4 $582,000 $260 16 days Too few sales
Carrollton 21 4 $550,000 $291 42 days Too few sales
Irish Channel 22 2 $765,000 $340 44 days Too few sales
Bywater 22 2 $702,500 $351 53 days Too few sales
Mid-City 24 1 $500,000 $198 219 days Too few sales

*Algiers excludes Algiers Point, English Turn and Arbor Estates.

Months of inventory is only shown for neighborhoods with 10 or more closings. Anything under 20 is showing the direction of but isn't really revealing a trend.

  • Uptown is the tightest market in the city. 2.8 months of inventory, homes closing in 23 days, and another 25 pending. While the city tipped toward buyers, Uptown is a seller's market.
  • New Orleans East is where buyers have the most leverage. 153 homes on the market against 16 sales is 9.6 months of inventory. The median close was $136,500 at $83 a foot. The East is a big area with very different pockets inside it, so treat this as the overall read.
  • Algiers sits right in the middle at 6.0 months, and it had the most sales of any neighborhood here. Homes closed in a median of 35 days at $172,500. Across the river from Uptown, the same budget goes a lot further.
  • Gentilly is balanced at 6.5 months with 110 homes on the market. Correction from last month: I listed Gentilly at under 12 active. The real number is about 110.

The rest had 4 or fewer closings, so again its too few to read a trend. Algiers Point is one to watch: its active listings have been sitting a median of 134 days.

So how does this compare with our pals in Metairie?

Metairie Comparison

Active 424
Closed (30 days) 72
Median closed price $311,750
Median $/sqft $178
Median DOM 26 days
MOI 5.9 months

Metairie is still a balanced market while Orleans tipped toward buyers.

The gap is widest at the entry level. Under $300K, Metairie sits at 4.7 months of inventory against 8.4 in Orleans, with a median close of $251,300 versus $162,750. What's interesting is that Metairie's median is down from $345,000 a year ago.

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

🏠🏠🏠🏠🏠🏠🏠🏠
Philip Ewbank,
Realtor Keller Williams Realty New Orleans
8601 Leake Ave, New Orleans, LA 70118
C: 504.335.7481 | O: 504.862.0100
Each office independently owned & operated. Licensed in the state of Louisiana. License #0995700196

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