New Orleans, LA 70115 Real Estate Market Report

ZIP Code: 70115
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The real estate market in New Orleans, LA (ZIP: 70115) is currently characterized by a median sold price of $625,000, reflecting a stable market despite the presence of elevated inventory levels. The neighborhood has shown modest price appreciation, with the median listing price at $469,206.50, indicating a significant gap between asking prices and actual sales. This discrepancy may suggest that sellers are adjusting their expectations in response to market dynamics.

Transaction activity appears to be moderate, with median days on market reaching 317 days, indicating slower sales velocity. This extended time frame may reflect a buyer's market dynamic, where buyers have the advantage due to excess supply relative to sales activity. Additionally, the median market rent stands at $2,000, although rental demand is experiencing a slight year-over-year decrease, which could impact future investment strategies in the rental sector.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

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Key Findings

1. The median sold price of $625,000 indicates strong market value despite elevated inventory levels.

2. With median days on market at 317, the market is experiencing slower sales velocity, suggesting potential pricing friction.

3. The median listing price of $469,206.50 reflects a notable gap compared to sold prices, indicating possible seller expectation adjustments.

4. Rental demand remains strong, but the median market rent of $2,000 has seen a slight year-over-year decrease, suggesting caution in rental investments.

5. The market temperature is currently neutral, indicating balanced conditions between buyers and sellers.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.