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