Does $400K buy more leverage in New Orleans than on the Northshore in 2026?

You get less house in Orleans. You also get the upper hand.

At $400K, the buyer getting the smaller house has the stronger hand right now.

I’m Philip Ewbank with Keller Williams Realty New Orleans. Every week I pull what actually sold at one price point. This week it’s $400K.

Orleans gives you about 460 fewer square feet than the Northshore at the same price. It also gives you leverage the Northshore won’t.

I pulled single family sales from the MLS between $385K and $415K. These are sales from the last 90 days, and active listings as of October 22nd.

Jefferson Parish: steady, with a hard ceiling.

Five homes listed above $425K sold in this range anyway, after cuts. One listed at $475K and closed at $410K.

Orleans Parish: least house, most leverage.

44 active, 16 sold. At 8.2 months of inventory, this is a buyer’s market.

Northshore: most house, tightest market.

Sellers are getting 98.7% of list. But six homes listed above $425K still ended up here. One sat 311 days and dropped from $499K to $411.5K.

Here are some examples of what you could get right now for about $400,000.

1309 Claiborne Drive, Jefferson: $389,000
4 beds | 2 full baths + 1 half bath | 1,890 sq. ft. Courtesy of NOLA Living Realty

This new-construction home in Old Jefferson has an open layout, high ceilings and a quartz kitchen with a waterfall island. The primary bath includes an oversized double shower, soaking tub and marble counters, and a Jack-and-Jill bath serves the other bedrooms. A covered patio, tankless water heater and spray-foam subfloor insulation round out the features.

953 E Monterey Court, Gretna: $400,000
13 beds | 8 full baths + 2 half baths | 5,450 sq. ft. across four units | Listed as a fourplex. Courtesy of Bridgewater Realty Advisors, LLC

This fourplex has three three-bedroom units and one four-bedroom unit, each with central air and heat, in-unit laundry and separate utility meters. Two units are occupied and two are vacant. The listing projects $5,600 in monthly rent once fully occupied, not current collected rent. Operating expenses and the cost of filling those vacancies are worth reviewing. It’s been on and off the market at $400,000 since July 2025 without a price cut. The current owner bought it for $270,000 in December 2021.

500 S Pierce Street, New Orleans: $425,000
2 beds | 1 bath | 1,401 sq. ft. Courtesy of McEnery Residential, LLC

Built in 1921, this raised cottage sits on a 63-by-120-foot corner double lot in Mid-City’s Historic District. Original hardwood floors, tall ceilings, fireplaces, millwork and a vintage Chambers stove give it character. There’s also off-street parking and a shed. The listing presents it as a restoration or renovation opportunity, so compare it with a project budget in mind.

741 Northlake Drive, Covington: $395,150
5 beds | 3 baths | 2,720 sq. ft. Courtesy of Cicero Realty, LLC

DSLD’s Hickory III H plan in Lake Ramsey offers five bedrooms plus a separate flex room or den. The kitchen has an island and walk-in pantry, and the primary suite includes a tub, separate shower and walk-in closet. The home backs to a pond and has a covered patio and two-car garage. It’s listed as under construction, with an annual HOA fee of $639.

701 Aurora Street, Mandeville: $425,000
3 beds | 2 baths | 1,500 sq. ft. Courtesy of Crescent Sotheby’s International Realty

This 1936 corner-lot cottage is near the Mandeville Trailhead and Tammany Trace. Heart-of-pine floors, original architectural details and a front porch stand out, along with a detached guest house or studio. The listing reports a 2016 renovation and a 2024 roof. A fenced yard and off-street parking add practical outdoor space.

716 Governor Nicholls Street #G, New Orleans: $395,000
1 bed | 1 bath | 583 sq. ft. Courtesy of Hospitality Realty

This first-floor condo in Spanish Stables Condominiums sits just off Royal Street. Three sets of French doors open onto the shared courtyard, and the listing describes period details paired with modern updates. It’s the smallest property in this group, with shared laundry and no parking. The $549 monthly condo fee covers common-area costs and exterior insurance. Electricity, gas and water are separate.

How do they stack up?

Same budget, very different math.

• Northlake is about $31/SF under the Northshore median, and it’s new construction.

• Claiborne is new construction too, just $11/SF over Jefferson’s median, and priced under the $400K line.

• Pierce and Aurora are listed $81 to $107/SF above their parish medians. With those two, you’re paying for the lot and the address, not the square footage.

• Both are also listed at $425K, the price where homes in this range have been sitting and then selling closer to $400K.

If $400K were your number, which side of the lake would it go to?

🏠🏠🏠🏠🏠🏠🏠🏠
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