In November, home prices rose moderately from the month before, with a median listing price of $333,450.
The number of listings on the market remained practically unchanged from last month, but it is a bigger increase than normal for this time of the year in New Orleans, and homes are also selling close to the same pace as the same time last year.
Home prices in New Orleans
Typically, home price per square foot in New Orleans tend to fall in November. And the most recent data shows that the price per square foot decreased by 1.1% compared with the month before.
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 1.2%, which means price changes in the Big Easy are keeping pace with the national market.
New Orleans inventory
In November, there were 1,895 homes for sale in New Orleans, which was 0.3% more than the month before and 7.2% less than the same time last year.
Meanwhile, active inventory across the nation fell by 2.5% from last month to 1,072,266.
The number of new listings in New Orleans was 368, which was 7.5% less than the month before and 1.1% more than the same time last year.
Nationally, the number of new listings fell by 14.1% from last month to 330,908.
Time on market
Homes in New Orleans take an average of 81 days to sell, according to November figures.
This is three days less than the previous month and one day less than the same month last year.
For comparison, nationally homes spent an average of 64 days on the market in November.
Use the Realtor.com data portal to get more market data, broken down by state, metro or ZIP code.
* Here’s a live look at popular listings and recent home sales in New Orleans, LA.