Luxury isn’t one market
Here’s what $1M+ homes are actually doing right now
Luxury real estate gets talked about like it lives in its own bubble.
In reality, it behaves very differently depending on where you are, even at the same price point.
I pulled $1M+ single-family data using:
current active listings (no date filter)
closed sales from the last 90 days
First at the parish level for context, then zooming into a few neighborhoods people cross-shop all the time.
Parish by Parish
Orleans Parish
91 active listings
44 closed in the last 90 days
Median active days on market: 102 days
Median closed price: $1,300,000
Median closed price per sq ft: $393
Median closed days on market: 19 days
What this tells me: there’s plenty of inventory, buyers are taking their time, and pricing discipline matters. Homes that miss the mark sit. Homes that hit it tend to move.
Jefferson Parish
54 active listings
21 closed in the last 90 days
Median active days on market: 100 days
Median closed price: $1,225,000
Median closed price per sq ft: $369
Median closed days on market: 13 days
Jefferson feels thinner and steadier. Fewer listings, fewer wild swings, less emotion baked into pricing.
St. Tammany Parish
81 active listings
20 closed in the last 90 days
Median active price: $1,795,000
Median active days on market: 105 days
Median closed price: $1,238,500
Median closed price per sq ft: $301
Median closed days on market: 112 days
This one’s different. Bigger homes, more land, longer decision cycles. These are lifestyle buyers, not urgency buyers, and the timelines reflect that.
Neighborhood Differences
These three areas get cross-shopped a lot at similar price points, but buyer behavior isn’t the same at all.
Old Metairie
22 active listings
14 closed in the last 90 days
Median actie days on market: 75 days
Median active price: $1,649,000
Median closed price: $1,606,500
Median closed price per sq ft: $393
Median closed days on market: 12 days
Old Metairie is a tale of two timelines. Homes can sit on the active market while buyers wait, but once the right property hits, it moves very quickly. The short closed days on market paired with longer active time suggests buyers are patient, not hesitant. They’re waiting for a specific combination of location, renovation level, and layout, and when that shows up, they act decisively.
Audubon
4 active listings
8 closed in the last 90 days
Median active days on market: 65 days
Median closed price: $1,384,225
Median closed price per sq ft: $442
Median closed days on market: 9 days
Audubon buyers are similar in activity as their Old Metairie neighbors. Active homes are being marketed around the same time and closing much faster if priced/marketed correctly. Observing the difference in Active vs Closed days on market is always revealing.
Lakeview
11 active listings
5 closed in the last 90 days
Median active days on market: 134 days
Median closed price: $1,030,000
Median closed price per sq ft: $318
Median closed days on market: 45 days
Lakeview luxury market isn’t slower because buyers aren’t there, it’s slower because buyers have more choices. The neighborhood spans a wider range of styles, builds, and price points, which creates longer decision cycles. When homes are turnkey and well-aligned with buyer expectations, they still move, just not with the same urgency seen in more uniform submarkets like Audubon or Old Metairie
Luxury buyers are still showing up, but they’re doing more sorting than reacting. Inventory levels, neighborhood character, and how “finished” a home feels all play a bigger role than raw price. What looks uneven on the surface is really just different markets behaving the way they’re built to behave.