Local home value data · New Orleans, LA
What's my home worth in New Orleans, LA?
New Orleans has one of the slower-moving housing markets among large Southern cities, and recent sales point to buyers having plenty of time and choice, though homes are selling somewhat faster than a year ago.
Is New Orleans a buyer's or seller's market?
Leaning buyer's. Redfin rates New Orleans 14/100 (not very competitive), based on how quickly homes sell, how often they get multiple offers, and how close they sell to list price.
What this means if you're selling in New Orleans
A median sale price of $340,000, down 1.5% year-over-year, alongside an average of about 65 days on market (74 a year ago) and roughly one offer per listing, describes a market where buyers hold the advantage. Sellers should expect negotiation and price carefully against recent comparable sales, since the Redfin Compete Score of 14 out of 100 shows little competitive pressure.
How New Orleans compares
New Orleans's median sale price sits 16% below the U.S. median.
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Is New Orleans a buyer's or seller's market right now?
It favors buyers. The Redfin Compete Score is 14 out of 100, homes receive about one offer on average, and they take around 65 days to sell. That pace is nine days faster than last year, so the market has improved slightly, but prices are still down 1.5% to a median of $340,000.
Are New Orleans home prices dropping?
Modestly. The median sale price over the three months ending August 2026 was $340,000, about 1.5% lower than the same period last year. It is a small decline, not a sharp correction.
How accurate is the New Orleans median for my neighborhood?
The $340,000 citywide median is only a rough guide, since values can differ a great deal from one neighborhood to the next. For an estimate based on your own home and nearby recent sales, request a free home value report, which is reviewed by a local agent.
Home values in nearby markets
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Market data (median sale price, year-over-year change, days on market, and buyer competition) sourced from Redfin, trailing 3-month data as of August 2026. Figures are approximate, change frequently, and are not a substitute for a formal appraisal or a local agent's comparative market analysis. Read more about how home value estimates work.