While home insurance in the region appears to be getting better, that doesn’t mean you shouldn’t look for the best deal.

I pulled advice from insurance brokers and mitigation specialists I trust. Here are the moves that actually work.

Wind Mitigation Inspection

This is the single biggest money-saver in Louisiana. A wind mitigation report proves your home can handle storms, impact windows, hurricane straps, storm shutters. If you don’t have one, you’re leaving money on the table. Bill Hatchett at Wind Mitigation Surveyors handles these. (504-439-2860)

I have a post below on details on Wind Mitigation Surveys and how that works.

When it comes to these surveys, some offices offer better deals. USAA offers the biggest discounts.

Roof Age

While a roof has a typical life of 25yrs, some insurers won’t touch roofs past 12-15 years with new policies. If yours is near that mark, rates jump. A new roof or one rated for high winds gets a discount. Some carriers offer discounts for Fortified Roof certification. Ask what your home qualifies for.

Security System & Smart Tech

Monitored systems, cameras, smart smoke alarms, water leak detectors. Some carriers discount all of these. Worth asking about.

Raise Your Deductible

Higher deductible, lower premium. Hurricane deductibles in New Orleans are already steep. Check what part of your policy you’re actually moving before you do this.

Shop Every Year

Loyalty doesn’t pay. Carriers slowly hike rates on the same customer, betting you won’t leave. Get three quotes annually or work with an independent broker.

Ask for Discounts

Insurance companies won’t volunteer these.

• Claims-free discounts (3+ years)

• Gated community or home security

• Home plus auto bundling

• Occupational discounts (teachers, veterans, first responders)

• Full-year prepayment

Upgrade Old Systems

Electrical, plumbing, or HVAC that’s aging drives your rate up. Tell your insurer what you’ve replaced.

Impact Windows & Storm Shutters

No storm-rated protection means higher wind coverage costs. Upgrading weak spots like glass doors can lower your risk and unlock a discount.

Review Your Coverage

Some policies auto-include expensive add-ons for jewelry or art you don’t need. Cut them.

Know Your Roof Age Cutoff

Confirm your insurer’s roof age limit before renewal. Many stop covering roofs past 10-15 years.

The move: You have leverage. Insurance companies count on you not using it. Most of these take one phone call or one inspection. A few can save you hundreds a year.

Are you currently sitting on a policy you haven’t shopped in 2+ years, or have you already found a better rate?

Philip Ewbank is a licensed Realtor with Keller Williams New Orleans. He covers the New Orleans and Northshore real estate markets.

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

Inventory jumped. Sales fell. Prices dropped 8% in one month. And right now, 93 doubles are sitting under contract waiting to close.

This matters for September buyers. Here’s why.

I pulled 90 days of closed sales from NOMAR Matrix for all three property types. This is current as of late August 2026. Active listings are a current snapshot.

New Orleans Doubles: Three Month Trend

That MOI in August reads different because closings have dipped. June had 56 sales. July dropped to 46. August hits at 38. Prices tracked down the same staircase revealing an 8% drop in one month.

My take is that this is our common seasonality. Multifamily is clearly a buyer’s market, but the past three months show what every summer shows us: it’s hot. This is typically the slowest season for buying properties. Once the weather cools and kids are back fully in school, I expect we’ll see the closed unit count climb back up.

New Orleans Triplexes

Nine sales just shows the direction of this micro-market. With only 61 triplexes on the market, this data is a good starting point for buyers and sellers to manage their expectations.

New Orleans Fourplexes

When it comes to 4plx’ we have six closings, so this is similar to the triplex info. Not enough data to predict. Without a bigger sample, you’re just guessing which direction this moves.

What September Buyers Need to Know

Here’s the real story: those 93 pending doubles are going to close in 30 to 45 days. When they do, September will look very different from August.

You’ll see a spike in closed sales reported. Inventory will tighten. And sellers who watched August softness will get nervous. Some will price more aggressively. Others will pull their listings and wait for October when momentum shifts.

If you’re serious about buying a double, September is your window. Inventory is still high. Prices are still soft. Sellers are still uncertain. That combination doesn’t last.

By October, when those 93 deals close and the market reports show July-like velocity again, FOMO will return. Prices will stabilize. Buyers will feel the pressure again.

If You’re Selling

This data shouldn’t move you either direction right now. Our individual neighborhoods hold different market pressures. Think Carrollton vs. Lakeview. While this shows the city’s trend, your neighborhood data will reveal what direction your micro-market is actually going.

But know this: September inventory will tighten fast. If you’re thinking about listing, don’t wait for October.

If you're thinking about buying or selling a double, September is your window. The data supports moving now, not waiting.

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

The condo market closed 45 units in July across Orleans Parish. Active inventory sits at 471. Median price is $327,500. It’s a buyer’s market by every traditional measure, and it’s been that way for months.

But something is about to happen that will reshape which of those 471 active condos actually sell and which ones sit indefinitely. In less than two weeks, on August 3, 2026, Fannie Mae and Freddie Mac are eliminating the fast-track approval process for condo mortgages. In January 2027, they’re raising reserve requirements. These deadlines don’t sound dramatic until you understand what they mean for a building like Cotton Mill (12 units for sale) or a French Quarter conversion with high investor ownership.

The July Numbers in Context

These numbers track with June and April. Closing pace is consistent. Inventory is stable. Prices are flat. On the surface, the New Orleans condo market looks stuck in neutral.

The neighborhood breakdown tells a different story.

The pattern is clear. Buildings that can get conventional financing move. Buildings that can’t move slowly or not at all. Financing, not price, is the constraint.

Enter Fannie Mae’s New Rules

In less than two weeks, on August 3, 2026, Fannie Mae and Freddie Mac are eliminating the fast-track approval process for condo mortgages. Here’s what changes.

Buildings with 10 or fewer units get a break. They can skip Full Review and use a streamlined process instead. This applies to duplexes, small condo conversions, and boutique buildings—common in New Orleans.

Buildings with 11 or more units get scrutinized. Every loan will require Full Review, which means lenders will examine the HOA budget, reserve funding, insurance coverage, litigation history, and delinquencies. Weak buildings fail it.

On January 4, 2027, HOA reserves jump from 10% to 15% of the annual budget. No exceptions. Associations must adopt the highest recommended reserve level from their reserve study.

What Warrantable Means

A warrantable condo meets Fannie Mae and Freddie Mac lending guidelines. It’s that simple. For buyers, it means conventional mortgages, competitive rates, normal underwriting. For sellers, it means a deep buyer pool.

Warrantable condos historically required:

• At least 51% owner-occupied units.

• No single entity owning more than 10% of units.

• Adequate HOA reserves (was 10%, now 15%).

• No pending litigation.

• Commercial use limited to 25% or less.

If an unwarrantable condo doesn’t meet these standards, buyers need cash or portfolio loans (higher rates, stricter terms). This can shrink the buyer pool making prices fall to compensate for financing friction.

The Insurance Wrinkle

In the same letter, Fannie Mae also relaxed roof insurance requirements. Lenders now accept Actual Cash Value (ACV) coverage instead of requiring full Replacement Cost Value. For homeowners, this lowers insurance premiums. For HOAs, it’s a mixed bag. Lower insurance costs help reserve funding targets. But if a roof fails, residents with ACV coverage get paid the depreciated value, not replacement cost. They cover the gap.

What Buyers and Sellers Need to Do

If you’re a seller: Ask your HOA or property manager three questions before you list.

1. Is the building currently warrantable by Fannie Mae standards?

2. What is the reserve funding level, and what does the reserve study recommend

3. Are there any pending lawsuits or special assessments coming?

The answers will shape your entire strategy. A warrantable condo in a strong building goes on the market differently than a condo in a building facing a potential reserve assessment or litigation.

If you’re a buyer: Ask your lender whether a condo is warrantable before you write an offer. Don’t fall in love first and ask questions later. A building that’s currently unwarrantable might still work for you if you have cash or access to portfolio lending. But you’re paying a premium for that friction, and your resale pool will be smaller.

Also ask about the reserve funding level. If the reserve study recommends 15% and the board is only funding 10%, a special assessment is coming. Your costs are about to go up.

The Road Forward

The condo market won’t change between July and August. The rules will. Buildings that could float along on ambiguity now have to prove themselves. Strong, well-managed buildings with solid finances and good ownership mixes will thrive. They’ll pass Full Review every time. Financing will be available and buyers will have options.

Weak buildings and buildings in transition will struggle. Some will become unwarrantable. Sellers in those buildings will need to get creative: target cash buyers, price more aggressively, or work with portfolio lenders.

For New Orleans specifically, the July numbers look stable. The market that produced them is about to shift. If you’re buying or selling a condo in the next six months, understand your building’s warrantability status.

It matters more than it ever has.

🏠🏠🏠🏠🏠🏠🏠 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

A private banker from JP Morgan Private Bank presented at our brokerage this week. Most of the presentation covered global markets, AI, energy infrastructure, and the broader economic outlook.

One slide stopped the room.

The title was simple: “Where frozen housing markets are, and aren’t, thawing.” The data behind it came from Zillow, Realtor.com, Redfin, Haver Analytics, and JP Morgan Private Bank as of February 2026.

Louisiana is green. Most of the country is not.

What the Map Is Actually Showing

The Northeast corridor is deep red. Frozen. Chicago is frozen. Most of the Midwest is frozen or neutral. Parts of Southern California are mixed. New Orleans showed up alongside Houston and pockets of the Southeast as one of the markets beginning to move.

Green on this map does not mean the market is easy or cheap. It means transaction activity is increasing, inventory is moving, and buyers and sellers are finding each other again after a prolonged stall. That is a meaningfully different condition than what most of the country is experiencing right now.

The data behind that map is from February 2026. Here is what June looks like on the ground.

What the June 2026 MLS Data Shows

I pulled the full Orleans Parish single family sales data this week. Here is the three month picture.

Active inventory dropping every month. Closed sales climbing every month. Months of inventory compressing from 8.2 to 5.9 in 90 days. Median price per square foot at its highest point of the spring at $206.

Three months ago Orleans Parish was a buyer’s market. It is not anymore.

The JP Morgan map was showing green in February. The local MLS data is confirming that signal through June. The two sources are telling the same story from completely different vantage points.

The K-Shaped Recovery and Why It Matters Here

The JP Morgan banker used a term that is worth understanding if you are trying to make sense of why this market feels so different depending on who you talk to.

The K-shaped recovery.

The idea is straightforward. Since COVID, the economy has not recovered evenly. It has split into two diverging paths. People who own homes, hold investment accounts, and have built equity have seen those assets grow faster than inflation for three straight years. Their net worth is up. Their purchasing power is intact. The rising market has worked in their favor.

People who do not own assets, who are renting, living paycheck to paycheck, or trying to enter the market for the first time, are facing a different reality. High rents, elevated rates, and rising insurance costs have made it harder to get ahead, not easier. The gap between these two groups has widened not narrowed.

That dynamic is playing out directly in the New Orleans real estate market right now.

The buyers moving in June 2026 are largely people who already had equity somewhere, in a previous home, in a portfolio, in savings built during a period of stability. They are not rate-sensitive in the way a first-time buyer with limited down payment would be. They are the haves making their next move.

The people sitting on the sidelines are largely the have-nots. Renters who want to buy but find the all-in monthly payment does not work at current rates and insurance costs. Entry-level buyers facing 6.8 months of inventory in the under $300K tier where the math is tightest.

That is not a New Orleans problem exclusively. It is a national condition that happens to be playing out here in a more visible way because the market is thawing while most of the country is still frozen.

What JP Morgan Is Saying About Rates

The rate outlook from the presentation is worth knowing if monthly payment is the variable you are watching.

JP Morgan’s view is that the 30-year mortgage stays roughly where it is for the rest of 2026. The Fed is likely on pause. Eight of the twelve voting Fed members think rates are going up. Eight think they are going down. That split tells you something about how uncertain the picture is.

What the banker emphasized specifically for real estate is that shorter ARM products, three, five, and seven year adjustable rate mortgages, are currently pricing more attractively than the 30-year. If the average buyer lives in a home for seven years or fewer, a seven-year ARM at a meaningfully lower rate deserves serious consideration against a 30-year fixed.

This is not a recommendation. It is context worth having before you assume the 30-year is the only option worth running numbers on.

What This Means If You Are Watching the Market

The macro picture and the local data are aligned in a way they have not been in over a year.

JP Morgan is identifying New Orleans as one of the few markets where transaction activity is resuming. The local MLS data is confirming that with three consecutive months of inventory compression and rising closed sales volume. The price per square foot on closed transactions is at its highest point of the spring.

The window that felt closed in 2025 is reopening.

That does not mean it will stay open indefinitely. Markets that thaw can stall again if rates move unfavorably or if inventory builds faster than demand. The three data points worth watching in the second half of 2026 are whether Orleans Parish inventory continues below 1,300 active listings, whether monthly closed sales hold above 200, and whether the under $300K tier continues its improvement from 8.7 months of inventory in May toward something closer to balanced.

Every month I pull this data so you do not have to guess about what the market is doing.

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.

Questions in the comments. I read every one.

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

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

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

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

Six closed sales. Small sample, read carefully. 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

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. 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, 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

Congratulations to our Buyer Clients!

Cat and Quinton were recently married and ready to live on the South Shore! I found them a home in a quiet Metairie neighborhood so they could be close to work and family. Reach out to hear how I negotiated their closings costs and repairs to be paid by the seller!

🏡 Active Buyer Needs: Know Someone Selling?

Most people don’t realize that some of the best real estate transactions in New Orleans never hit the MLS. They happen because someone knew someone. Below are ten active buyers I’m representing right now. If any of these sound like your property or someone you know, reach out! That’s how deals get done.

🔵 St. Charles Corridor | Condo, up to $200K

🔵 Algiers Point | Single Family 2 bedrooms +, up to $350K

🔵 Bywater | Double, up to $400K

🔵 Bucktown | Single Family, up to $450K

🔵 Algiers Point | Double, up to $500K

🔵 Uptown / Carrollton | 3 bedrooms +, up to $600K

🔵 Mid-City | Double, up to $600K (2 different buyers!)

🔵 Lakeview | Single family, up to $750K

🔵 Uptown | Single Family, under $1M

🔵 Jefferson Parish | Double or triplex, any price point

🔵 Luxury Buyer | 4 bed or larger, $1.5M–$2.5M

Congratulations to our clients!

Would you be open to a quick conversation about what the New Orleans market means for you right now? Reply to this email or call me at 504.335.7481.

🏠🏠🏠🏠🏠🏠🏠
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

Happy Friday! If you have been thinking about what $800,000 actually buys in this market right now, this one is for you. Two parishes, seven listings, and the numbers that are driving decisions on both sides of the lake. Let’s get into it.

Same Budget, Two Very Different Markets

What $800,000 buys in New Orleans and the Northshore right now.

At $800K in New Orleans you would expect plenty of options. There are 26 active listings right now but three homes in this data set closed in under 3 days. The best ones are not waiting around.

The Northshore tells the same story in sharper relief. Seven of thirteen closed sales went under contract in under 10 days. The homes sitting active have been on market anywhere from 107 to 546 days.

Both markets at this price point are saying the same thing. Right house, right price, gone fast. Everything else sits.

New Orleans | $795K to $825K

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

10 closed sales is a thin sample. Treat these figures as directional, not definitive.

Northshore | $795K to $825K

Active listings: 18
Pending / Under Contract: 3
Closed (90 days): 13
Median close price: $800,000
Median close $/sqft: $233
Median DOM closed: 11 days
MOI: 4.2 months

The headline number: median closed DOM of 11 days on the Northshore vs. 36 days in New Orleans. That gap is worth paying attention to.

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

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 of Generations Realty LLC)

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.

And here is what that looks like on the Northshore

323 Black Jack Oak Dr | Madisonville | $799,000
4 bed / 3.5 bath | 3,170 sqft HOA: verify amount with listing agent (Courtesy: Fine Southern Properties, LLC)

Half-acre corner lot in Black River Forest, Madisonville. French Country estate built 2013. Cypress beams, Chicago brick fireplace with reclaimed mantel, European oak floors, no carpet. Chef’s kitchen with six-burner cooktop, commercial hood, pot filler, wine cooler, butler’s pantry. Resort-style pool with chiller, tanning ledge, fountains, and fire pit. Outdoor kitchen, whole-house generator, golf cart garage. Flood Zone C. 9 days on market.

192 Glendurgan Wy | Madisonville | $815,000
5 bed / 3 bath | 4,013 sqft HOA: verify amount with listing agent (Courtesy: Compass Covington)

Most square footage in this post at $203/sqft. Gated Arbor Walk subdivision on a 0.48-acre corner lot. Old Chicago Brick, antique heart of pine floors, whole-house generator, whole-house water filtration, 677 sqft climate-controlled sunroom with its own AC. Split floor plan with 4 bedrooms plus den, upstairs bonus room, and study off the primary suite. Community pool. Mandeville high school district, close to I-12. 2018 roof. Flood Zone C. 37 days on market.

736 Cottage Ln | Covington | $799,000
4 bed / 4 bath | 4,250 sqft HOA: verify amount with listing agent (Courtesy: 1Percent Lists)

Terra Bella Village in Covington. Built 2009 with a major 2021 renovation adding the second floor. Highest square footage in this post at $188/sqft. Hurricane-resistant insulated concrete form construction. Two primary suites, private custom theater with tiered seating and eight electric reclining chairs, all furnishings convey. Carrier Infinity AC installed 2025, tankless water heater 2026, 17,500W generator. 75-foot community pool, 185-acre nature preserve, town square. Flood Zone X. 155 days on market.

The DOM gap between Black Jack Oak at 9 days and Cottage Ln at 155 days tells you something. Condition, lifestyle amenities, and flood zone are what buyers are reacting to at this price point. Square footage alone is not moving homes.

re, suggests buyers on the Northshore are making faster decisions at this price point.

Both markets are telling buyers the same thing. The best homes at $800K are not waiting.

THE MORTGAGE MATH | 323 Black Jack Oak Dr ($799,000)

Conventional financing only at this price point.

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

Mortgage Insurance: $180

Total Monthly Payment: ~$5,503 (excl. taxes)

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

Mortgage Insurance: None

Total Monthly Payment: ~$4,811 (excl. taxes)

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 St. Tammany 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.

What the Data Is Actually Saying

New Orleans at $800K buys neighborhood identity and architectural character. Fontainebleau, Marlyville, Broadmoor, the Irish Channel, each one feels different in a way that does not exist on the Northshore. The tradeoff is older stock, a more complex insurance market, and in three of these four listings, no garage.

The Northshore at $800K buys square footage, newer construction, flood zone clarity, and lifestyle infrastructure. HOAs are present but minimal. The DOM gap, 36 days in New Orleans vs. 11 days on the Northsho

Which of these three would you actually want to live in? Drop it in the comments, happy to answer questions below.

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

If you own a home in New Orleans or on the Northshore and you have been watching the market trying to figure out whether now is the right time to sell, July 2026 provides the most encouraging data we have seen in over a year.

Here is what the numbers actually show.

The Two Markets Side by Side

Two things stand out.

The Northshore is the tighter market. 4.0 months of inventory puts St. Tammany firmly in seller’s market territory. Orleans Parish at 5.9 months sits just inside balanced. Both markets favor sellers right now but to different degrees.

The price per square foot gap is real eye opener. Sellers in Orleans Parish are closing at $206 per square foot versus $177 on the Northshore. New Orleans commands a roughly 16 percent premium per square foot. That has held consistently through the spring selling season.

Orleans Parish | What Sellers Need to Know by Price Tier

The parish-wide 5.9 months of inventory is useful context. It does not tell you what your specific home is worth or how long it will take to sell. The price tier breakdown does.

(Note on $800K-$1M: 13 closed sales is thin. Three fewer closings pushes MOI from 4.2 to 5.4. I would use this interpret the broader trend and not to use for negotiating.)

Under $300K

The most supply-heavy tier in Orleans Parish at 6.8 months and 50 days median DOM. Sellers here will wait longer than any other price point before finding a buyer. The direction is improving. Last month this tier sat at 8.7 months. The trend is moving your way but patience is still required. I recommend under pricing the market. Remember do you want the market to chase you or do you want to chase the market?

$300K to $500K

The most efficient tier in the city right now. 6.2 months of inventory and 24 days median DOM. Well-prepared homes are closing in under a month. This is where the market feels most functional and sellers in this range have a reasonable window to transact without excessive waiting.

$500K to $800K

The market shifts in your favor here. 5.5 months of inventory and 16 days median DOM. Buyers at this price point are decisive. Sellers with well-prepared homes are not waiting long.

Above $800K

This is where Orleans Parish does something unusual. Luxury is moving faster than entry level. The $1M+ tier sits at 3.4 months of inventory closing in 22 days. The $800K-$1M tier is at 4.2 months with 26 days median DOM. Flag that as directional given only 13 closed sales but the pattern is consistent with May.

New Orleans luxury is in a seller’s market. If you own above $800K in Orleans Parish the June data is working in your favor.

Three Months of Direction for Orleans Parish Sellers

Active inventory dropping every month. Closed sales climbing every month. MOI compressing from 8.2 to 5.9 in 90 days. Median price per square foot at its highest point of the spring.

Three months ago Orleans Parish was a buyer’s market. It is not anymore.

St. Tammany Parish | What Sellers Need to Know by City

Four of five cities are tightening or holding tight. One is softening. Which city you are in determines how much leverage you have right now.

Madisonville closed sales are thin at 12 transactions. Treat as directional.

Covington

3.8 months of inventory and 30 days median DOM. Inventory has compressed every month since March when it sat at 4.1. The volume leader on the Northshore with 92 closed sales in June. Well-positioned homes here are clearing in a month.

Mandeville

The strongest seller’s market on the Northshore. 2.6 months of inventory and 16 days median DOM. After loosening slightly in May the market snapped back in June with 70 closed sales. Mandeville has been the tightest market in this report for three consecutive months. If you own here the data is as favorable as it gets in this rate environment.

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 softening. Sellers in Slidell have more competition than they did 90 days ago and the timeline numbers reflect it.

Abita Springs

The surprise of the month. MOI dropped from 5.7 in May to 3.3 in June on 34 closed sales. That is a meaningful single month move with a sample size large enough to take seriously. Sellers in Abita Springs are in a better position this month than they were in May.

Madisonville

12 closed sales makes this month directional only. MOI at 2.8 would make it one of the tightest markets in the report but the sample is too thin to lean on. Worth watching as volume builds in July.

Which Market Gives Sellers More Leverage Right Now

At the parish level the Northshore wins on MOI. 4.0 months versus 5.9 months.

But the story gets more nuanced at the price point level.

Above $800K, New Orleans is the stronger seller’s market. Orleans Parish luxury is closing faster than Northshore luxury right now. The $1M+ tier in Orleans Parish sits at 3.4 months closing in 22 days. The Northshore $1M+ tier sits at 6.6 months.

Between $300K and $800K both markets are competitive. Mandeville at 2.6 months is the best seller’s market in either parish at that price point.

Under $300K the Northshore is clearly stronger. Slidell at 5.7 months is softer than other Northshore cities but still tighter than Orleans Parish entry level at 6.8 months.

What to Watch in July

Three data points worth tracking.

Whether Orleans Parish entry level continues improving. It dropped from 8.7 to 6.8 months in one month. If it crosses below 6.0 in July the seller’s position at that price point changes significantly.

Whether Mandeville holds below 3.0 months of inventory for a third straight month. If it does that is a durable trend.

Whether Abita Springs holds its June tightening or reverts toward May’s softer numbers. One month is interesting. Two months confirms a shift.

Every month I pull this data for both parishes so you do not have to guess about what the market is doing.

If you are thinking about listing in the next 90 days, which market are you in?

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

If you’re shopping at $700,000 in the greater New Orleans metro right now, the first decision isn’t which house to buy. It’s which side of the lake.

Same budget. Completely different trade-offs. Orleans Parish gives you walkability, historic character, and neighborhood density. St. Tammany gives you newer construction, more square footage per dollar, lower flood risk in most areas, and room to breathe. But you’re trading urban energy for suburban convenience.

The numbers make the gap concrete. Median close price per square foot in Orleans Parish at this price band is $306.63. On the Northshore it’s $211.94. At $700,000 that difference translates to roughly 1,000 additional square feet.

Here’s what the market actually looks like on both sides right now.

The Market Snapshot

I pulled data on both markets from the MLS this week. Orleans Parish data covers single-family homes between $700K and $760K. St. Tammany data covers the same price band. Closed sales reflect the past 90 days.

Orleans Parish

St. Tammany Parish

So what do these houses look like?

Orleans Parish

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.

St. Tammany Parish — What $700K–$749K Looks 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.

So What Does It Actually Cost?

Mortgage math courtesy of Cameron Budzius at The Mortgage Krewe. Rates sourced from Mortgage News Daily. As of June 25, 2026, the 30-year fixed sits at 6.53%. At this price point you are above the FHA loan limit in both Orleans and St. Tammany Parish. Conventional financing only.

Example: 514 Second St, Irish Channel ($749,000)

Scenario 1 — 10% Down Conventional

Down Payment: $74,900

Loan Amount: $674,100

Interest Rate: 6.53% | 30-Year Fixed

P&I: $4,274

Homeowners Insurance: $625*

Property Taxes (with Homestead Exemption): ~$95

Mortgage Insurance (PMI): $281

Total Monthly Payment: $5,275

Estimated Cash to Close: ~$89,900

Scenario 2 — 20% Down Conventional

Down Payment: $149,800

Loan Amount: $599,200

Interest Rate: 6.53% | 30-Year Fixed

P&I: $3,799

Homeowners Insurance: $625*

Property Taxes (with Homestead Exemption): ~$95

Mortgage Insurance: None

Total Monthly Payment: $4,519

Estimated Cash to Close: ~$164,800

The 20% down scenario saves you $756/month and eliminates PMI entirely. Whether keeping $75,000 liquid is worth that monthly savings is a different answer for everyone.

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

The Real Trade-Off

Orleans Parish at $700K puts you in established neighborhoods with walkable infrastructure and character homes that are genuinely hard to replicate. The Irish Channel listing at $364/sqft is paying for a 2020 build in X flood zone two blocks from Magazine Street. That price per foot reflects real demand, not inflated expectations.

St. Tammany at $700K puts you in more space with more land and in most cases better flood risk. The Covington waterfront on over an acre with a boat slip at $264/sqft is a different category of property than anything available in Orleans Parish at the same number.

The question is not which market is better. It is which trade-off fits your life.

If you want to talk through how the numbers line up for your specific situation, reply to this email or call Philip Ewbank directly at 504.335.7481.

Two things to fill in before publishing: brokerage names on Rue Le Ville and 514 Second St, and verify the cash-to-close figures with Cameron. Everything else is ready.

Here is what three of those active listings look like.

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.

New Orleans summers are brutal on HVAC systems. Most manufacturers recommend a minimum of one service visit per year. There is nothing quite like the feeling of your AC going out and one of the best ways to prevent that is my scheduling a maintenance check.

What a basic annual service should include:

• Check and clean evaporator and condenser coils

• Inspect refrigerant levels and recharge if low

• Check electrical connections and controls

• Test thermostat calibration

• Inspect ductwork for leaks

A system running low on refrigerant works harder, costs more to run, and fails sooner. A dirty coil does the same. Neither problem announces itself until you’re sweating through a July weekend waiting on a service call.

Three companies I send my cliets to:

Ronald Welty Heating and Air
(Serving both shores since 1968.)
Northshore: 985-882-2665 | South Shore: 504-837-1905

Burkhardt Air Conditioning, Heating, Electrical and Generators
(Northshore and Greater New Orleans since 1990.)
985-626-7741

Air It Up Air Conditioning and Heating
(Greater New Orleans since 2000.)
504-915-9747

If you bought a home in the last year and haven’t had the system inspected since closing, that’s the one thing worth doing before August.

Remember! Each month be sure to change out your filters!

New Orleans is on pace to record fewer than 100 murders this year.

Four years ago this city was averaging 220.

I recently attended a private event here in New Orleans where Commander Rodney Hyatt of Troop NOLA, Louisiana State Police, spoke candidly about crime in this city. What he shared was worth putting on paper for anyone making a decision about New Orleans, whether that is buying a home, selling one, or simply deciding whether to stay.

The numbers first. Homicides are down 74% since 2022. Carjackings have followed the same trajectory. These figures come from the Metropolitan Crime Commission, an independent body that tracks crime data separately from law enforcement agencies.

Commander Hyatt was direct about what drove the change. Three things stand out.

Targeted enforcement. Troop NOLA focuses on stolen vehicles and illegal firearms. Not expired plates. Not broad sweeps. Deployment follows the crime stats, and the stats tell them where to go.

A dedicated prosecution track. Anyone arrested by state troopers operating in New Orleans is prosecuted by the state attorney general’s office rather than the local DA. That freed up capacity and created a separate, faster moving track for these cases.

Structural coordination that has never existed here before. Troop NOLA is a permanent state police presence embedded in New Orleans for the first time in the city’s history. It operates alongside NOPD, the sheriff’s office, federal partners, and that dedicated prosecution track simultaneously. Commander Hyatt put it plainly: the coordination infrastructure is new. The results followed the infrastructure.

He also said something that stuck with me. High crime, in his words, has a drastic effect on real estate. He is right. Sustained crime reduction is one of the variables that moves real estate markets over time. Buyers who were watching this city from a distance start to lean in. Families who were on the fence about committing to a neighborhood start to plant roots. Investors who were sitting on the sidelines start to run numbers.

None of this means the city’s challenges are solved. Some neighborhoods still have a long way to go. The homeless situation remains unresolved. The infrastructure problems are real. A city rebuilding its public safety record after decades of damage does not turn the corner in two years.

But the direction is right. And in real estate, direction matters as much as destination.

If you have been watching New Orleans and waiting for a reason to feel more confident about its trajectory, the data is starting to give you one.

Questions? Reply to this email or call me at 504.335.7481.

🏠🏠🏠🏠🏠🏠🏠🏠
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

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

It’s 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

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

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.

If you own an older home in New Orleans, you’ve probably wondered whether FORTIFIED roof standards even apply to you. The answer is yes, and it’s worth understanding before the Louisiana Fortify Homes Program lottery closes June 19.

The Preservation Resource Center put out a solid explainer this week. Here’s what New Orleans homeowners specifically need to know:

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, especially with a June 19 deadline in view.

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.

Lottery registration closes June 19 at 5pm. Register at ldi.la.gov/fortifyhomes. Full PRC explainer at prcno.org.

Questions? Reply to this email or call me at 504.335.7481.

🏠🏠🏠🏠🏠🏠🏠🏠
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

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.

This is what the last 30 days of MLS data shows across every rental category in Orleans Parish. These are median closed rents. What tenants actually signed leases for. Not asking prices.

June 2026 Snapshot

Total active inventory: 1,435 units. Total leased in the last 30 days: 453 units.

A few terms worth defining before we go deeper.

Absorption rate is the percentage of active inventory that leased in a given month. A higher number means units are moving faster relative to supply. DOM is days on market, how long a unit was listed before a tenant signed. Median means the middle value in the dataset. It is more reliable than average when a small number of high or low outliers could skew the number.

The Three Month Picture

One month of data tells you what happened. Three months tells you where things are going. Here is what April through June looks like across each segment.

Median Rent Trend

Median DOM Trend

Absorption Rate Trend

What Each Segment Is Actually Doing

Single Family

Single family homes are the most consistently absorbed rental category in this report. Forty percent of active inventory leased in 30 days at a median of $2,275. That number dipped to $2,100 in May and came right back in June. May looks like the outlier. The trend is holding.

The reason single family demand is so consistent is straightforward. Families do not want to share walls. That preference does not change regardless of what the broader market is doing. The supply side is equally simple — single family rentals in New Orleans are scarce because so many get converted or sold to owner occupants. When one hits the market at the right price it does not sit long.

Doubles and Duplexes

This is the most important segment in the Orleans Parish rental market and the three month data makes that case clearly. Median rent has been exactly $1,600 for three consecutive months. That is not a coincidence. That is a price floor. DOM has tightened every single month from 47 to 30 to 25 days. Absorption has held between 29 and 34 percent.

No other segment in this report has shown that level of consistency across all three metrics simultaneously. For anyone trying to understand what the New Orleans rental market is actually doing right now the doubles data is the most reliable signal available.

Condos

Condos are the one segment showing consistent downward pressure on rents. Three straight months of decline from $2,000 to $1,825 to $1,700. That is a $300 drop in 90 days.

The absorption rate tells a more nuanced story. May was unusually soft at 14% — one in seven active units leased that month. June recovered to 28%. Units are moving again but at lower rents than they were in the spring.

What this means practically is that condo landlords are making a choice right now. Hold at last year’s rents and sit longer. Or adjust to where the market actually is and lease faster. The data suggests the ones adjusting are winning.

For renters this is the best negotiating environment of any category in this report. For investors underwriting a condo purchase the rent trajectory over the last three months is the number to stress test your pro forma against. Not the April number. The June number.

Triplex and Fourplex Units

Small multifamily is the quietest story in this report. Rent has bounced between $1,463 and $1,525 over three months with no clear directional move. Absorption has held flat at 25 to 26 percent. Not exciting but not deteriorating either.

The most meaningful number in this segment is DOM. Down from 49 days in April to 35 days in June. That is a 14 day improvement in leasing velocity over 90 days. Units are not renting faster because demand surged. They are renting faster because landlords are pricing more realistically. That is a subtle but important distinction.

116 units leased in 30 days reflects steady underlying tenant demand in this category.

What This Means If You Are Thinking About Investing

The question most investors ask first is what can I expect to collect in rent. Here is the honest answer based on three months of closed lease data in Orleans Parish.

A single family rental at the right price point will likely lease around $2,275 median in roughly 30 days. A double will likely lease at $1,600 in about 25 days. A condo is harder to predict right now given the downward trend but $1,700 is where the market cleared in June. Small multifamily units are leasing around $1,500 in 35 days.

Those are medians. Your specific property will land somewhere in a range on either side of those numbers depending on condition, location, size, and how it is priced relative to active competition.

The more important question for investors is not what rent you can collect but what absorption rate and DOM tell you about vacancy risk. A segment absorbing at 34 percent with 25 day median DOM carries meaningfully different vacancy assumptions than one absorbing at 26 percent with 36 day DOM. That gap has a real dollar figure attached to it when you are building a pro forma.

Underwrite against the current numbers. Not what rents were doing six months ago.

Renting Versus Buying

This report covers rental data not sales data. But the two are connected in a way that is worth naming directly.

Every month that passes as a renter is a month of payments that build someone else’s equity. That is not a moral judgment. It is just math. For some people renting is the right decision right now based on their timeline, their finances, and what they are looking for. For others the math has shifted enough that buying deserves a serious look.

At $1,600 for a double and $2,275 for a single family home those numbers are worth comparing against what a mortgage payment might look like on a similar property. That calculation is different for everyone but it is a question more people in New Orleans 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.

Questions in the comments. I read every one.

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

Tremé does not follow the script.

While the citywide doubles market sits at 8.8 months of inventory, firmly in buyer’s market territory, one neighborhood is running a completely different market inside it.

• Ten closed sales in thirty days.

• Twenty three days median DOM.

• Sub $300,000 median closed price.

By every measure that matters Tremé doubles are moving like a seller’s market in a city that has been telling buyers they have leverage for the better part of two years. That contradiction is worth understanding. And it is not the only one in this month’s data.

The Three Month Doubles Story

The headline number for June is 8.8 months of inventory. That sounds soft. But inventory has been essentially unchanged for three consecutive months, 474 to 475 active units, while something more interesting has been happening underneath it.

Median closed price has climbed $54,000 in three months. Median DOM has dropped from 43 to 31 days. Closed sales are holding steady in the low 50s every month.

The surface level story, buyer’s market, lots of inventory, buyers have leverage, is technically accurate at the citywide level. But the homes that are actually trading are trading faster and at higher prices every single month. The well-positioned doubles are being absorbed consistently while overpriced inventory sits and inflates the MOI number.

Triplexes: Signs of Life With a Caveat

The MOI swing from 21.0 in May to 4.4 in June looks dramatic. It is mostly a function of May’s three closed sales rather than a true market shift. Do not read too much into it.

What is consistent across all three months is more useful: DOM tightening from 38 to 25 days and median price holding in the $400K to $437K range. Investors who are finding the right deals are moving on them. The 61 active units sitting at a median of 66 days DOM tells you the gap between what sellers want and what buyers will pay is still wide. But the deals that get done are getting done faster.

Fourplexes — Still a Waiting Game

The two closed sales we had in May makes three month trending unreliable here. We’re reporting June as a standalone snapshot only.

The spread between median active price ($499,000) and median closed price ($272,500) is the most important number in this segment. That $226,500 gap tells you exactly where buyers are drawing the line. Sellers pricing at or above $499,000 are competing against motivated sellers willing to close at $272,500.

At 10.8 months of inventory fourplexes remain a deep buyer’s market. For investors with financing and patience this is the segment with the most room to negotiate. The challenge is that the deals worth doing are few and the ones that are not worth doing are plentiful.

Neighborhood Spotlight: Doubles

Gentilly, Mid-City, and Carrollton closed sales are thin this month: 2, 2, and 3 transactions respectively. Looking at Tremé with 10 closed sales we have the only neighborhood with enough volume to draw reliable conclusions.

Tremé

Last month’s Tremé deep dive showed a bifurcated market, correctly priced multifamily deals closing in 19 days while everything else sat at 102 days median DOM. The June data suggests that bifurcation is resolving. Ten closed sales in thirty days at 23 days median DOM is not a bifurcated market. That is broad-based demand.

Sub $300,000 median closed price with that velocity is the most interesting acquisition data point in this entire report. Tremé is where investor demand is concentrating right now and the price point still has room relative to comparable neighborhoods.

What This Means If You Are Buying, Selling, or Investing

Buyers: The citywide picture gives you room but it is not uniform. Tremé is not a buyer’s market for doubles right now regardless of what the parish-wide number says. Mid-City is. Know which market you are actually shopping in before you assume you have leverage.

Sellers: Three consecutive months of rising prices and tightening DOM on doubles is the most encouraging trend in this data for your side of the table. The market is moving in your direction even in a supply-heavy environment. The caveat is that the homes driving those numbers are well-positioned and correctly priced. Overpriced inventory is what is keeping the MOI number elevated. You are not competing against the market, you are competing against the sellers who priced correctly.

Investors: Tremé at sub $300,000 median with consistent sub-25-day DOM is the most actionable data point in this report. Underwrite conservatively on vacancy given broader rental softness across the parish, the June rental data shows Orleans Parish absorption rates between 14% and 32% depending on property type. The acquisition side of the equation in Tremé is more favorable than it has been in some time. Mid-City offers the most negotiating room if you have patience and a longer hold horizon.

What to Watch in the Second Half of 2026

The doubles market has been sending a consistent signal for three months, prices climbing, DOM tightening, inventory flat. The question heading into the second half of the year is whether that trend has legs or whether it stalls as we move past the summer leasing season.

Two things would confirm the trend is real: closed sales volume holding above 50 per month through August and median closed price crossing $375,000. Two things would signal a reversal: active inventory breaking above 500 units or DOM expanding back toward 40 days.

Neither outcome is predictable. But those are the numbers worth watching.

Every month I pull this data so you do not have to guess about what is actually happening in the New Orleans multifamily market.

Looking to sell your multifamily?
Let’s chat!

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

The Full Market

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

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.

If you’re trying to figure out what this means for your specific situation, whether to buy, sell, wait, or adjust your price, I’m happy to talk it through. No pitch, just the data applied to your circumstances.

Philip Ewbank Realtor, Keller Williams New Orleans 504.335.7481 philip.ewbank@kw.com

This week’s newsletter covers a lot of ground. We broke down the three VA benefits veterans and their families should be using right now. We took a deep dive into Tremé: every asset class, current data, no fluff. We compared 8 active listings across New Orleans and the Northshore at the same price point and the themes that emerged might surprise you. And the Deals of the Week are in, no guarantees they’re still available by the time you read this 😉.

Let’s get into it.

🏡 Active Buyer Needs: Know Someone Selling?

Most people don’t realize that some of the best real estate transactions in New Orleans never hit the MLS. They happen because someone knew someone. Below are ten active buyers I’m representing right now. If any of these sound like your property or someone you know, reach out! That’s how deals get done.

🔵 St. Charles Corridor | Condo, up to $200K

🔵 Algiers Point | Single Family 2 bedrooms +, up to $350K

🔵 Bywater | Double, up to $400K

🔵 Bucktown | Single Family, up to $450K

🔵 Uptown / Carrollton | 3 bedrooms +, up to $600K

🔵 Mid-City | Double, up to $600K

🔵 Lakeview | Single family, up to $750K

🔵 Uptown | Single Family, under $1M

🔵 Jefferson Parish | Double or triplex, any price point

🔵 Luxury Buyer | 4 bed or larger, $1.5M–$2.5M

🍽️ This weekend Susie and I are looking forward to trying N7 with friends.

🩰 We have a much anticipate ballet recital courtesy of the patient instructors of Lelia Haller.

🚙 And excited to visit family after fitting in some showings for clients!

Looking at the market? Would you be open to a quick conversation about what the New Orleans market means for you 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

New Orleans

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.

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.

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 | $565,0003-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 Northshore

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: 1 Charlotte Dr

Mortgage math courtesy of Cameron Budzius at The Mortgage Krewe

Scenario #1 — 3% Down Conventional

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

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.

The honest tradeoff is pretty simple.

New Orleans at this price buys neighborhood identity. Vista Park, the Warehouse District, Mirabeau Gardens, the character of the place is baked into the price. The housing stock is older, the insurance market is more complex, and the price per sqft can swing dramatically depending on which neighborhood you’re in. What you own, you own, no HOA.

The Northshore buys newer construction and a more predictable cost picture. Two of these four listings have community pools built into the subdivision. The newest build on the NOLA side is 2015. On the Northshore you have a 2020 build at this price point. HOAs are minimal, $100 to $500 a year.

Neither is the wrong answer. They’re answers to different questions. The one worth sitting with: what does your Tuesday morning actually look like in each place?

If you're weighing both sides of the lake, I'm happy to pull comps, talk through the numbers, or just answer questions.

Would you be open to a quick conversation about which side makes more sense for what you're looking for?

Tremé is the oldest African American neighborhood in the country. That’s not marketing language, it’s documented history.

This historic neighborhood developed the birthplace of jazz, the home of second line culture, Congo Square, Louis Armstrong Park, and St. Augustine Church, one of the oldest African American Catholic parish in the country. Its also home to the internationally renown Dooky Chase’s Restaurant on Orleans Avenue.

The housing stock reflects the age and density of the neighborhood, Creole cottages, shotgun doubles, and narrow lots that have housed musicians, civil rights activists, and multi-generational families for over two centuries. It’s a small neighborhood geographically, and the market data reflects that.

Read the numbers with that context in mind.

Months of inventory of 10.5 months signals buyer's market territory, but Tremé is a small neighborhood and 8 closings in 90 days is a thin sample, use the number as a directional signal, not a verdict.

The more telling detail is 9 homes under contract against 28 active, about 32% of inventory is in motion. Homes that close are doing so at a median of $396,500 in 41 days. Buyers have time and leverage here, but correctly priced homes are still moving.

Note: one UC listing at $60,000 was excluded as a distressed outlier. The remaining data tells a more useful story. 25 active multifamily listings, only 2 under contract, but 9 closings in 90 days, and a 19-day median DOM on those closings.

That gap is the most interesting signal in this dataset. Active inventory is sitting 102 days on average. Deals that get done are closing in 19 days.

The market is bifurcated: correctly priced multifamily moves fast, everything else sits and waits.

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 their rent about $100 off asking on average to get a lease. Units moving at a 32-day median DOM, consistent but not frenzied.

What it means

Buyers: 10.5 months of inventory means you have time and negotiating room. 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. The more transparent you are with pre-inspections, flood declaration forms, and insurance quotes the faster buyers can make a decision.

Investors: 19-day median DOM on multifamily closings is the standout number. The deals that get done in Tremé get done fast, have your financing ready before you start negotiating.

Renters: 38 active units and about $100 of negotiating room between asking and leased price on average. Take your time and try negotiating with the landlord, you never know!

If this data raised questions about your own situation: buying, selling, or investing in Tremé, feel free to reach out.

No pressure, just a conversation. 504.335.7481 or Book A Time To Chat!

🏠🏠🏠🏠🏠🏠🏠🏠 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

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

Double · Orleans Parish · Mid-City · 4bd/3ba · 1,644 sqft · $176/sqft · Built 1900 · Shotgun · Hardy Plank · Raised foundation · Ductless wall units · Off-street parking for two · Fenced · Security cameras · No current tenants · Estimated market rent ~$3,200/month · Sold as-is

The numbers at $290,000: Cap rate: 5.14% · Cash flow: -$225/month · DSCR: 0.85

The numbers at $250,000: Cap rate: 7.86% · Cash flow: ~$374/month · DSCR: 1.30 · Cash-on-cash: 8.97% · 20% down: $50,000

The case: The list price is not the deal price and the price history tells you everything you need to know.
This property hit the MLS in November 2025 at $350,000. Four price cuts and one expiration later it’s at $290,000. The seller has already come down to $60,000 and just re-listed without changing the price. That’s someone who wants out.

A $250,000 offer is $40,000 below current ask, aggressive, but not unreasonable given six months of market rejection. At $250,000 the numbers flip: 7.86% cap rate, positive cash flow, and a 8.97% cash-on-cash return.

The property itself is genuinely well-located: minutes from LSU Health, LCMC Health, and the VA Hospital, which drives consistent rental demand in this corridor. The 3bd/2ba unit has 12-foot ceilings, granite countertops, and wood floors.

Comparable units within a quarter mile are closing between $1,500–$1,850/month. The 1bd/1ba unit comps at $1,300–$1,400. Combined estimated market rent: ~$3,200/month. Off-street parking for two vehicles is a genuine differentiator in this area.

Watch for: No current tenants means no verified income, budget for lease-up time. Ductless wall units and window AC on a 1900 building means you’ll want a thorough mechanical inspection. Negotiate hard and inspect harder.

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

Triplex · Orleans Parish · Broadmoor · 7bd/4ba · 4,016 sqft · $97/sqft · Built 1940 · Effective 2020 · Wood siding · All 3 units occupied · $4,940/month gross rent · Original hardwood floors · Central and window AC · Separate meters · Off-street parking · Sold as-is

The numbers: Cap rate: 7.36% · Gross rent: $4,940/month · Cash flow: ~$419/month · DSCR: 1.21 · Cash-on-cash: 6.47% · 20% down: $77,800

The case: Three occupied units generating $4,940/month on a $389,000 ask in Broadmoor. This is a cash flow play from day one: no lease-up risk, no vacancy to fill, no rent roll to stabilize.

The 2020 effective year on a 1940 building tells you meaningful work has been done. Original hardwood floors, separate meters, and off-street parking round out a clean operational profile.

At $97/sqft for a fully occupied triplex in a central New Orleans neighborhood with easy I-10 access this is a straightforward income property. The DSCR of 1.21 is workable but tight at current rates, factor that into your offer. A buyer who can negotiate a modest reduction or bring slightly more down improves the picture meaningfully.

Watch for: DSCR at 1.21 leaves limited cushion for vacancies or unexpected expenses. Window AC units in two of three units are worth noting on a 1940 building, obviously confirm the condition of all mechanical systems before closing. All units are occupied so showings require 24 hours notice.

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

7 units · Orleans Parish · Gentilly · 7bd/7ba · 4,400 sqft · $111/sqft · Built 1958 · Effective 2015 · Raised foundation · Both roofs replaced post-Ida · Central HVAC · 6/7 units occupied · $5,570/month current gross rent · MU-1 zoning · Commercial ground floor potential · Off-street parking · Listed today · Sold as-is

The numbers: Cap rate: 8.28% · Gross rent: $5,570/month · Cash flow: ~$900/month · DSCR: 1.36 · Cash-on-cash: 11.04% · 20% down: $97,800

The case: Six of seven units are occupied generating $5,570/month in current gross rent. At 8.28% cap rate and $900/month cash flow on conventional financing this is the strongest performer on this week’s list by the numbers.

Both roofs were replaced post-Ida: the single biggest deferred maintenance item on a Gentilly multifamily is already off the table. The MU-1 zoning is where this deal gets interesting for a sophisticated investor: the ground floor of the 2551/2553 building is currently undeveloped and designated Medium Intensity Mixed Use.

That blank canvas can be built out as an additional residential unit or tailored for commercial use, either path adds income without touching the existing rent roll. The seller is also open to selling the two buildings separately, which creates a potential exit or partnership strategy for buyers who want to split the asset.

Watch for: Two units share one electric meter, confirm how costs are split and whether that creates management complexity. One unit is vacant, verify condition and budget for lease-up. Condition listed as fair on a 1958 building means due diligence on mechanicals is essential. Measurements are estimated and not guaranteed.

Every investor reads these differently. A first-time buyer sees Allen as a way to live for free. A portfolio investor sees Agriculture as the strongest yield on the list. Someone with patience and negotiating skill sees Galvez as the hidden play. What would you do with these?

If you have questions on any of these or want to run numbers on a specific scenario, reply to this email or reach out directly.

Want me to run a Deal Sheet on a property you're considering?
Reply to this email with the address and I'll send you the full breakdown.

🏠🏠🏠🏠🏠🏠🏠🏠 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