Small Multifamily Report, One Month at a Time
February 2026 | New Orleans and Metairie small multifamily sales
Here’s a quick look at how the small multifamily market is behaving across New Orleans and Metairie based on sales activity from the past 30 days. This focuses on doubles, triplexes, and fourplexes, looking at inventory, pricing, and how long homes are actually taking to move. The goal is to cut through the noise and show what’s really happening right now.
New Orleans
Doubles & duplexes
• Active homes: 440
• Median active price: $319,500
• Median DOM (active): 105 days
• Homes sold (past 30 days): 28
• Median sold price: $289,500
• Median DOM (sold): 83 days
What this tells us:
• Large amount of inventory
• Buyers are selective
• Homes are selling, but it’s taking time
• Pricing accuracy matters more than ever
Triplexes
• Active homes: 67
• Median active price: $525,000
• Median DOM (active): 91 days
• Homes sold (past 30 days): 1
• Median sold price: $102,000
• Median DOM (sold):~2 days
What this tells us:
• Very thin market
• One sale can heavily skew the data
• Outcomes depend on condition and layout more than averages
Fourplexes
• Active homes: 75
• Median active price: $450,000
• Median DOM (active): 105 days
• Homes sold (past 30 days): 5
• Median sold price: $199,900
• Median DOM (sold): 57 days
What this tells us:
• Buyers are cautious
• Overpriced homes linger
• Realistic pricing still gets deals done
Metairie
Doubles & duplexes
• Active homes: 12
• Median active price: $304,500
• Median DOM (active): 60 days
• Homes sold (past 30 days): 3
• Median sold price: $359,000
• Median DOM (sold): 34 days
What this tells us:
• Much tighter inventory than New Orleans
• Higher baseline pricing
• Still not a fast-moving segment
Triplexes
• Active homes: 1
• Median active price: $649,000
• Median DOM (active): 9 days
• Homes sold (past 30 days): 0–1
• Sold data: extremely limitef
What this tells us:
• Scarcity creates attention
• Tough to make a narrative with so little data
Fourplexes
• Active homes: 2
• Median active price: $529,000
• Median DOM (active): 175 days
• Homes sold (past 30 days): 0
What this tells us:
• Very small sample size
• Long DOM suggests resistance at current pricing
New Orleans vs Metairie
Inventory
• New Orleans: significantly more small multifamily homes available
• Metairie: very limited supply, especially 3–4 unit homes
Pricing
• New Orleans: wider price swings
• Metairie: higher floor, tighter range
Speed
• New Orleans: longer decision timelines
• Metairie: quicker decisions when pricing is realistic
What this means…
For buyers
• Slower market favors patience
• Underwrite with real numbers, not peak assumptions
• Opportunity exists where pricing is realistic
For sellers
• Buyers are analytical
• Pricing to “see what happens” backfires
• Clean, well-supported pricing still works