The New Orleans Market Is Not One Market Right Now
Entry-level is sitting at 9 months of inventory. Luxury is closing in 9 days. June 2026 data.
Every month I pull the single family sales data for Orleans Parish. This month I went a step further and broke it down by price tier.
What I found: the New Orleans market is not one market right now, it’s five, and they’re moving in different directions.
The Full Market
Months of Inventory of 6.1 puts the overall market at right in the center of a balanced market. This is has changed little in the past few months. But that number may be masking the number’s deeper in the market.
The Breakdown by Price Tier
Month of Inventory guide: under 5.5 = seller’s market · 5.5-6.5 = balanced · above 6.5 = buyer’s market
What the data is actually saying
The entry-level market is struggling. Under $300K sits at 8.7 months of inventory with 659 active listings chasing 76 monthly closings. If you’re buying under $300K right now, you should feel like you can negotiate. If you’re selling, condition and pricing have to be right or you’re sitting.
The middle of the market is balanced. The $300K–$500K tier at 5.6 MOI is the most efficient band in the city, homes moving in 26 days at a median close of $361K. Neither side has a significant edge here. Honestly a great spot for everyone.
Above $500K, the market flips entirely. The $500K–$800K band closes in 18 days. The $800K–$1M band closes in 11 days. And the $1M+ segment, 3.7 MOI, is closing in a median of 9 days. New Orleans luxury is moving faster than entry-level right now..
What this means for you
Buyers under $300K: you have time and negotiating room — use it. Ask for concessions, don’t rush.
Buyers $300K–$500K: balanced market, move with purpose. Well-priced homes in good condition are moving in under a month.
Buyers $500K+: if you find the right home, move fast. This segment is competitive and the data backs that up.
Sellers under $300K: pricing discipline is everything. Overpriced homes at this tier are sitting.
Sellers $500K+: you’re in a strong position. Properly prepared and priced homes are finding buyers in days, not weeks.
What price range are you shopping or selling in right now? The market experience is very different depending on where you are.
If you’re trying to figure out what this means for your specific situation, whether to buy, sell, wait, or adjust your price, I’m happy to talk it through. No pitch, just the data applied to your circumstances.
Philip Ewbank Realtor, Keller Williams New Orleans 504.335.7481 philip.ewbank@kw.com