Is Orleans County, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Orleans County was a Seller's Market.
Key Takeaway
Orleans County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Orleans County, LA
How much do homes in Orleans County, LA cost?
Median Sold Price
$335,449
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Orleans County have sold for 2.5% less than they did a year ago.
Summary: The median home sold price in Orleans County was $335,449 in May 2024, down 2.5% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $259.3K | $240.5K | -7.3% |
| 2 Bedrooms | $329.9K | $334.2K | +1.3% |
| 3 Bedrooms | $325.2K | $310.4K | -4.5% |
| 4 Bedrooms | $369.1K | $358.9K | -2.8% |
| 5+ Bedrooms | $466.5K | $450K | -3.5% |
Summary: Orleans County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.3%, 2 bedroom homes increased by 1.3%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes decreased by 3.5%.
Median Sold Price Compared To Nearby Counties
| Saint Tammany County | $286.8K | $293.4K | +2.3% |
| Saint Bernard County | $236.4K | $234.7K | -0.7% |
| Plaquemines County | $367.6K | $363K | -1.3% |
| Jefferson County | $259.9K | $255.1K | -1.9% |
| Orleans County | $344.1K | $335.4K | -2.5% |
Housing Supply in Orleans County, LA
How many homes are available in Orleans County, LA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2,754 | 3,055 | +10.9% |
Summary: The Orleans County real estate market had 3,055 homes for sale in May 2024, a 10.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 183 | 201 | +9.8% |
| 2 Bedrooms | 453 | 512 | +13.0% |
| 3 Bedrooms | 934 | 1,035 | +10.8% |
| 4 Bedrooms | 672 | 748 | +11.3% |
| 5+ Bedrooms | 512 | 559 | +9.2% |
Summary: The Orleans County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.8%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 9.2%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 309 | 314 | +1.6% |
Asking Price vs. Sold Price
222 Homes Were Sold
Under Asking
59 Homes Were Sold
At Asking
33 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Orleans County, you may be able to get a good deal. 70.7% of homes here sold below asking price last month.
Summary: A total of 314 homes were sold or pending in Orleans County in May 2024, up by 1.6% month-over-month. Of the 314 sold homes, 71% were sold under asking, 19% were sold at asking, and 11% were sold over asking.
Days on Market for Orleans County, LA
How long does it take to sell a home in Orleans County, LA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 48 Days | 61 Days | +27.8% |
Summary: Homes in Orleans County had an average of 61 days on market in May 2024, up by 27.8% compared to last year.
Breakdown of Home Sale Times
158 Homes Were Sold
Under 30 Days
80 Homes Were Sold
In 30 - 90 Days
76 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Orleans County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 314 homes were sold in Orleans County; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
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