May 2026 New Orleans Sales Market Report
Three years of May data, six neighborhoods, and the direction of the New Orleans Market
What a fun past few weeks! I hope you got some Jazzfest in your schedule if that’s your jam. The weather has been phenomenal and homes are moving!
Also, it’s May!
Every month I pull the last 30 days of MLS sales data for Orleans Parish single family homes.
This month I realized I have three-years of these reports and thought it was worth looking for trends.
Three Years in May: Orleans Parish Single Family
Inventory has compressed by 706 active listings over two years. Median DOM dropped from 84 days in 2025 back to 29, nearly identical to 2024. Price per square foot has done the same, returning to $199 after falling to $182 last year.
2025 was the anomaly. 2026 looks like 2024 with tighter inventory and higher prices.
May 2026 Neighborhood Snapshot
Mid-City, Bywater, and Carrollton closed sales are thin this month. Treat those figures with a grain of salt and more like its pointing to a direction of the market.
Lakeview
2.6 months of inventory, tightest market in this report
Median sold price $679,500 at $293/sqft
31 days median DOM at this price point is brisk
Sellers priced right have the leverage here
Gentilly
8.5 months of inventory on paper: buyer’s market
But closed sales tell a different story: 12 homes sold in 10 days median DOM
Well-priced homes move fast here
Overpriced inventory is what is driving that months of supply number up
Mid-City
4.3 months of inventory: seller’s market
Median sold price $392,500 at $229/sqft
22 days median DOM
Bywater
Highest price per square foot in this report at $336
Median sold price $525,000 at 15 days DOM
4.2 months of inventory
Carrollton
Price range $309,000 to $1,199,500 reflects the mixed character of the neighborhood
Median sold price $482,500 at $285/sqft and 14 days DOM
So...
Orleans Parish is not one market. The city average of 6.5 months sits on the buyer/seller threshold but Lakeview is in seller’s market territory and Gentilly is not. However, homes in Gentilly are still selling in 10 days when priced correctly.
The buyers who sat out 2025 are moving. The inventory that flooded in during 2024 is slowly being absorbed. The direction of travel over three years is clear.
Buyers: Know your neighborhood before assuming you have leverage. Lakeview and Bywater are not the same market as Gentilly.
Sellers: Pricing correctly from day one matters more than ever. Gentilly has 102 active listings and an 8.5 month supply; yet the homes that sold moved in 10 days.
Investors: 706 fewer active listings than May 2024 with closed sales nearly back to the same level. That gap between supply and demand is worth tracking.
Curious how this data effects your real estate goals?