After blended leads to February, March delivered a stronger month for the New Orleans residential actual property market.

Closed gross sales jumped 16.9% yr over yr, whereas the typical gross sales worth rose 3.5%, in line with the March 2026 Native Market Replace from the New Orleans Metropolitan Affiliation of Realtors (NOMAR).

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

Realtors closed 1,037 gross sales in March 2026, up from 887 transactions in March 2025. The common gross sales worth throughout metro New Orleans rose to $367,729, up from $355,459 a yr earlier. New listings additionally elevated, climbing 3.6% to 2,107. Properties, nonetheless, continued to take longer to promote, with common days on market rising 15.5% to 82 DOM.

The metro market stays forward of final yr. Closed gross sales by way of March totaled 2,550 transactions, up 8.4% in contrast with the identical interval in 2025, whereas the YTD common gross sales worth rose 4.3% to $367,693. New listings had been up 3.9% yr so far, although properties continued to spend extra time available on the market, with common days on market rising 11.1% to 80 days.

In accordance with Freddie Mac, the 30-year fastened mortgage fee averaged 6.37%, down from 6.46% the earlier week. The 15-year fastened mortgage fee averaged 5.74%, down from 5.77%. A yr in the past, at the moment, the 30-year FRM averaged 6.62%, whereas the 15-year FRM averaged 5.82%.

Orleans Parish
Orleans Parish posted a robust month in March, with each gross sales and costs transferring increased. Closed gross sales rose 16.2% yr over yr to 237 transactions, up from 204 in March 2025, at the same time as new listings dipped 2% to 622. Common gross sales costs jumped 21.4% yr over yr to $519,971, one of many strongest positive factors among the many area’s main markets. Yr so far, Orleans Parish’s common gross sales worth is up 11.1% to $498,726, whereas closed gross sales have elevated 4.8%.

Jefferson Parish
Jefferson Parish noticed modest gross sales progress in March, although costs slipped barely from a yr earlier. Closed gross sales rose 2.8% to 253 transactions, whereas new listings had been basically flat at 513, up 0.4%. Common gross sales worth fell 2.5% yr over yr to $340,502. Days on market rose sharply, rising 38.2% to 76 days. Yr so far, Jefferson Parish stays constructive in each gross sales and pricing, with closed gross sales up 4.7% and the typical gross sales worth up 5.2% to $339,941.

St. Tammany Parish
St. Tammany Parish posted one of many strongest March performances within the metro space, fueled by a pointy leap in closed gross sales. Transactions surged 50.4% yr over yr to 343, whereas new listings elevated 7.8% to 592. Common gross sales worth declined 3.9% to $350,924, however the acquire in transaction quantity marked probably the most vital shifts within the area. Properties took about the identical period of time to promote, with days on market inching up 1.4% to 72 days. Yr so far, closed gross sales in St. Tammany are up 21.7%, whereas common gross sales worth is down 3.5% to $358,579.