Where Should I Buy a Double in New Orleans in 2026?

June MLS data across Tremé, Gentilly, Mid-City, and Carrollton shows four completely different markets operating at the same time

Jun 08, 2026

Tremé does not follow the script.

While the citywide doubles market sits at 8.8 months of inventory, firmly in buyer’s market territory, one neighborhood is running a completely different market inside it.

Ten closed sales in thirty days.
Twenty three days median DOM.
Sub $300,000 median closed price.

By every measure that matters Tremé doubles are moving like a seller’s market in a city that has been telling buyers they have leverage for the better part of two years. That contradiction is worth understanding. And it is not the only one in this month’s data.

The Three Month Doubles Story

The headline number for June is 8.8 months of inventory. That sounds soft. But inventory has been essentially unchanged for three consecutive months, 474 to 475 active units, while something more interesting has been happening underneath it.

Median closed price has climbed $54,000 in three months. Median DOM has dropped from 43 to 31 days. Closed sales are holding steady in the low 50s every month.

The surface level story, buyer’s market, lots of inventory, buyers have leverage, is technically accurate at the citywide level. But the homes that are actually trading are trading faster and at higher prices every single month. The well-positioned doubles are being absorbed consistently while overpriced inventory sits and inflates the MOI number.

Triplexes: Signs of Life With a Caveat

The MOI swing from 21.0 in May to 4.4 in June looks dramatic. It is mostly a function of May’s three closed sales rather than a true market shift. Do not read too much into it.

What is consistent across all three months is more useful: DOM tightening from 38 to 25 days and median price holding in the $400K to $437K range. Investors who are finding the right deals are moving on them. The 61 active units sitting at a median of 66 days DOM tells you the gap between what sellers want and what buyers will pay is still wide. But the deals that get done are getting done faster.

Fourplexes — Still a Waiting Game

The two closed sales we had in May makes three month trending unreliable here. We’re reporting June as a standalone snapshot only.

The spread between median active price ($499,000) and median closed price ($272,500) is the most important number in this segment. That $226,500 gap tells you exactly where buyers are drawing the line. Sellers pricing at or above $499,000 are competing against motivated sellers willing to close at $272,500.

At 10.8 months of inventory fourplexes remain a deep buyer’s market. For investors with financing and patience this is the segment with the most room to negotiate. The challenge is that the deals worth doing are few and the ones that are not worth doing are plentiful.

Neighborhood Spotlight: Doubles

Gentilly, Mid-City, and Carrollton closed sales are thin this month: 2, 2, and 3 transactions respectively. Looking at Tremé with 10 closed sales we have the only neighborhood with enough volume to draw reliable conclusions.

Tremé

Last month’s Tremé deep dive showed a bifurcated market, correctly priced multifamily deals closing in 19 days while everything else sat at 102 days median DOM. The June data suggests that bifurcation is resolving. Ten closed sales in thirty days at 23 days median DOM is not a bifurcated market. That is broad-based demand.

Sub $300,000 median closed price with that velocity is the most interesting acquisition data point in this entire report. Tremé is where investor demand is concentrating right now and the price point still has room relative to comparable neighborhoods.

What This Means If You Are Buying, Selling, or Investing

Buyers: The citywide picture gives you room but it is not uniform. Tremé is not a buyer’s market for doubles right now regardless of what the parish-wide number says. Mid-City is. Know which market you are actually shopping in before you assume you have leverage.

Sellers: Three consecutive months of rising prices and tightening DOM on doubles is the most encouraging trend in this data for your side of the table. The market is moving in your direction even in a supply-heavy environment. The caveat is that the homes driving those numbers are well-positioned and correctly priced. Overpriced inventory is what is keeping the MOI number elevated. You are not competing against the market, you are competing against the sellers who priced correctly.

Investors: Tremé at sub $300,000 median with consistent sub-25-day DOM is the most actionable data point in this report. Underwrite conservatively on vacancy given broader rental softness across the parish, the June rental data shows Orleans Parish absorption rates between 14% and 32% depending on property type. The acquisition side of the equation in Tremé is more favorable than it has been in some time. Mid-City offers the most negotiating room if you have patience and a longer hold horizon.

What to Watch in the Second Half of 2026

The doubles market has been sending a consistent signal for three months, prices climbing, DOM tightening, inventory flat. The question heading into the second half of the year is whether that trend has legs or whether it stalls as we move past the summer leasing season.

Two things would confirm the trend is real: closed sales volume holding above 50 per month through August and median closed price crossing $375,000. Two things would signal a reversal: active inventory breaking above 500 units or DOM expanding back toward 40 days.

Neither outcome is predictable. But those are the numbers worth watching.

Every month I pull this data so you do not have to guess about what is actually happening in the New Orleans multifamily market.

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