KEY TAKEAWAYS:
- New Orleans metro home sales fell 5.3% in July 2025
- Orleans Parish sales dropped 16.3%, while St. Tammany rose 9.5%
- Average metro home price held steady at $346,748
- 30-year mortgage rates remain below 7% at 6.58%
After a scorching June in which New Orleans metro home sales increased by double-digit percentages, the local market cooled off in July. The number of closed sales dropped 5.3% year-over-year with 1,088 closed sales last month, according to the July 2025 Local Market Update published by the New Orleans Metropolitan Association of Realtors (NOMAR).
In June, the number of closed sales in the New Orleans Metro area jumped 13.5% YoY. Year-to-date, closed sales are only down 1.3% with 6,872 transactions over the first seven months of 2025, compared to 6,965 closed sales through the first seven months of 2024.
Every month, NOMAR includes statistics for the 10-parish metro area – Jefferson, Orleans, Plaquemines, St. Bernard, St. Charles, St. John, St. James, St. Tammany, Tangipahoa, and Washington.
Orleans Parish saw a double-digit percentage drop in closed sales, falling 16.3% YoY with 221 transactions in July 2025. Jefferson Parish also dropped 4% with 287 closed sales in July, but St.
Tammany Parish enjoyed an increase with 359 closed sales in July, up 9.5% YoY.
The average sales price remained steady in July. The average sales price in New Orleans metro was $346,748, down just 0.9% YoY. The average sales price remains up 4.2% YTD with an average price tag of $362,892 in July for a New Orleans metro home. Orleans Parish continues to have the highest average price, checking in at $436,716 in July (up 3.2% YoY). Homes in Jefferson Parish sell for an average price of $340,529 (up 2.6% YoY), while in St. Tammany Parish, homes sell for an average price of $351,066 (down 6.3% YoY).
New listings were down 8.6% YoY in July with 1,796 homes put up for sale last month. Through the first seven months of the year, new listings trail last year by 5.4% with 13,197 new listings through the first seven months. The Days on Market (DOM) remains high across the New Orleans metro area with an average DOM of 64 in July, up 20.8% YoY.
The 30-year fixed rate mortgage remains below the 7% threshold with a 30-year fixed-rate mortgage at currently 6.58%, while the 15-year fixed-rate mortgage stands at 5.71%, according to Freddie Mac.
(Except for the headline, this story has not been edited by PostX News and is published from a syndicated feed.)
