After a stable begin to the yr, February introduced each optimistic and unfavourable information for the New Orleans residential actual property market. Closed gross sales dropped 12.8% yr over yr, whereas the common gross sales value climbed 7.7%, in accordance with the February 2026 Native Market Replace from the New Orleans Metropolitan Affiliation of Realtors (NOMAR).

Realtors closed 726 gross sales in February 2026, down from 833 transactions recorded in February 2025. Regardless of the decline in gross sales, the common gross sales value throughout metro New Orleans rose to $372,748, up from $346,182 a yr earlier. New listings edged up barely to 1,565 in February, a 1.2% enhance from the identical month final yr. Houses took longer to promote, with common days on market growing 13.7% to 83 days.

Every month, NOMAR compiles statistics for the 10-parish New Orleans metro space — Jefferson, Orleans, Plaquemines, St. Bernard, St. Charles, St. John, St. James, St. Tammany, Tangipahoa and Washington.

Yr thus far, the metro market stays barely forward of final yr. Closed gross sales by February totaled 1,490 transactions, up 1.8%

in comparison with the identical interval in 2025, whereas the year-to-date common gross sales value elevated 4.4% to $366,306.

In keeping with Freddie Mac, as of March 16, 2026, the 30-year mounted mortgage price averaged 6.11%, up from 6% the earlier week. The 15-year mounted mortgage price averaged 5.50%, up from 5.43%. A yr in the past at the moment, the 30-year FRM averaged 6.65%, whereas the 15-year FRM averaged 5.80%.

Orleans Parish

In Orleans Parish, gross sales exercise slowed in February, although costs remained regular. Closed gross sales declined 30.2% yr over yr to 139 transactions, down from 199 gross sales in February 2025. New listings remained primarily flat, rising barely to 449 properties available on the market.

Common gross sales costs in Orleans Parish held regular, growing simply 0.2% yr over yr to $453,701. Houses additionally took barely longer to promote, with common days on market rising to 85 days.

Yr thus far, the common gross sales value in Orleans Parish has climbed 5.4% to $485,946 regardless of a small decline in general gross sales exercise.

Jefferson Parish

Jefferson Parish numbers mirrored the general market with a decline in month-to-month gross sales however vital development in common residence costs. Closed gross sales fell 10.6% yr over yr to 193 transactions in February. New listings additionally declined, dropping 8% to 370 properties. Nonetheless, the common gross sales value in Jefferson Parish jumped 23.1% yr over yr to $374,940, one of many largest value will increase among the many area’s largest markets.

Yr-to-date exercise in Jefferson Parish stays robust, with closed gross sales up 5.4% in comparison with the identical interval in 2025. Days on market elevated 13.8% to common of 74 days.

St. Tammany Parish

The St. Tammany Parish market confirmed regular exercise with average value development in February.

Closed gross sales dipped barely, falling 2.9% yr over yr to 233 transactions. New listings elevated 4.9% to 431 houses, offering further stock for patrons. Common gross sales costs rose 2.9% yr over yr to $377,170. Yr thus far, closed gross sales in St. Tammany Parish have elevated 4.6% in contrast with the identical interval in 2025. Houses took longer to promote with common days on market rising 18.8% to 82 days.