For the third straight month, closed gross sales elevated yr over yr within the New Orleans metro space, in line with the Could 2026 Native Market Replace from the New Orleans Metropolitan Affiliation of Realtors.

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 bought 1,225 properties in Could, a 4.2% enhance from a yr earlier, whereas year-to-date gross sales reached 4,956, up 8.1% from the identical interval final yr. In Could, new listings declined 9.9% yr over yr to 1,885. The common gross sales worth throughout metro New Orleans was basically flat, slipping 0.3% to $370,385, whereas common days on market improved 4.6% to 62 days.

The metro market stays forward of final yr. The YTD common gross sales worth is up 3.1% to $370,050. New listings are up 1.3% by way of the primary 5 months, although properties spent barely extra time in the marketplace total, with common days on market rising 1.4% to 72 days.

In keeping with Freddie Mac, the 30-year mounted mortgage charge is 6.48%, whereas the 15-year mounted mortgage charge is 5.79%. A yr in the past, the 30-year fixed-rate mortgage averaged 6.85%, whereas the 15-year fixed-rate mortgage averaged 5.99%.

Orleans Parish

In Orleans Parish, closed gross sales elevated 11.3% yr over yr to 305 transactions in Could. New listings dropped 22.4% to 457. The common gross sales worth dipped 2% to $495,037, however properties bought sooner, with days on market falling 12.5% to 63 days. Yr so far, Orleans Parish’s closed gross sales are up 9.3% by way of Could, whereas the typical gross sales worth has elevated 5.5% to $496,194. New listings are down 5.3%, and common days on market have improved 7.2% to 77 days.

Jefferson Parish

In Jefferson Parish, Could’s closed gross sales fell 13.3% to 274 transactions, whereas new listings declined 5.1% to 520. The common gross sales worth dropped 11.7% to $308,955, and common days on market have been unchanged at 60 days. Yr so far, Jefferson Parish’s closed gross sales are up 0.1% by way of Could, whereas the typical gross sales worth has risen 2.9% to $338,790. New listings are down 0.9%, and common days on market have elevated 11.7% to 67 days.

St. Tammany Parish

St. Tammany Parish posted a number of the metro area’s strongest development in Could. Closed gross sales rose 14.9% yr over yr to 386 transactions in Could. New listings have been down simply 0.9% to 562. The common gross sales worth elevated 4.6% to $382,948, and days on market improved 8.2% to 56 days. Yr so far, St. Tammany’s closed gross sales are up 16.9%, whereas new listings have elevated 6.6%. The common gross sales worth is down 0.9%, to $367,622, whereas DOM is unchanged at 67.