New Orleans, LA 70115 Real Estate Market Report

ZIP Code: 70115
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in New Orleans are 6.34%, reflecting a stable market environment for property owners in the 70115 area compared to early 2026 benchmarks.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The primary market indicator, 537,500 as the median sold price, signals the representative recent sale level for the neighborhood and appears to reflect realized transaction values rather than asking expectations.

2. There is a notable spread between the median listing price of 379,000 and the median sold price of 537,500, which may indicate pricing friction and elevated seller expectations relative to recent closed transactions.

3. The 1,162 median days on market points to slower sales velocity and reduced liquidity, which, combined with the sample's characterization of relatively constrained active supply, suggests transactions may take longer to negotiate and close.

4. Market trends are mixed: price year-over-year is down while market temperature is neutral, rent year-over-year is down, and interest rate pressure is moderate (current 30-year fixed mortgage rate noted at 6.34%), implying cautious buyer behavior and limited upside in the near term.

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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.

New Orleans, LA 70115 Real Estate Market Report

ZIP Code: 70115
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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

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Property Taxes

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Liquidity & Velocity

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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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in New Orleans are 6.34%, reflecting a stable market environment for property owners in the 70115 area compared to early 2026 benchmarks.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The neighborhood's primary market signal is the median sold price of $287,750, which points to current market value based on completed transactions and suggests a representative recent sale level for single-family and condo properties in 70115.

2. There is a material listing-to-sale dynamic where the median listing price of $274,900 sits below the median sold price of $287,750, which may indicate seller pricing strength or selective bidding on transacted properties rather than broad market appreciation; this coexists with neutral market conditions.

3. Liquidity appears constrained by slower sales velocity: the median days on market of 1,876 indicates extended holding periods for the sample of transacted listings and suggests downward pricing pressure over time, consistent with the observed price year-over-year trend of down.

4. Macro and cost-of-capital context is moderating activity: interest rate pressure flagged as moderate and local 30-year fixed mortgage rates near 6.34% may be contributing to the rent and price year-over-year trends both registering down; overall market temperature remains neutral, implying a balanced negotiation environment rather than an extreme buyer's or seller's market.

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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.