Is Orleans County, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$338,385
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Orleans County have sold for 3.2% less than they did a year ago.
Summary: The median home sold price in Orleans County was $338,385 in March 2024, down 3.2% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $260K | $245K | -5.8% |
| 2 Bedrooms | $333.5K | $333.5K | 0.0% |
| 3 Bedrooms | $327.9K | $320K | -2.4% |
| 4 Bedrooms | $389.5K | $349.8K | -10.2% |
| 5+ Bedrooms | $470.3K | $434.5K | -7.6% |
Summary: Orleans County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.8%, 2 bedroom homes did not change, 3 bedroom homes decreased by 2.4%, 4 bedroom homes decreased by 10.2%, and 5+ bedroom homes decreased by 7.6%.
Median Sold Price Compared To Nearby Counties
| Saint Tammany County | $289.6K | $292.7K | +1.1% |
| Saint Bernard County | $240K | $241K | 0.4% |
| Plaquemines County | $359.7K | $360.1K | 0.1% |
| Jefferson County | $259.9K | $256.3K | -1.4% |
| Orleans County | $349.4K | $338.3K | -3.2% |
Housing Supply in Orleans County, LA
How many homes are available in Orleans County, LA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2,372 | 2,785 | +17.4% |
Summary: The Orleans County real estate market had 2,785 homes for sale in March 2024, a 17.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 151 | 173 | +14.6% |
| 2 Bedrooms | 380 | 449 | +18.2% |
| 3 Bedrooms | 763 | 911 | +19.4% |
| 4 Bedrooms | 602 | 691 | +14.8% |
| 5+ Bedrooms | 476 | 561 | +17.9% |
Summary: The Orleans County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.6%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 17.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 186 | 252 | +35.5% |
Asking Price vs. Sold Price
185 Homes Were Sold
Under Asking
39 Homes Were Sold
At Asking
28 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. 73.4% of homes here sold below asking price last month.
Summary: A total of 252 homes were sold or pending in Orleans County in March 2024, up by 35.5% month-over-month. Of the 252 sold homes, 73% were sold under asking, 15% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 60 Days | 65 Days | +9.0% |
Summary: Homes in Orleans County had an average of 65 days on market in Mar 2024, up by 9% compared to last year.
Breakdown of Home Sale Times
104 Homes Were Sold
Under 30 Days
72 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 March 2024, 252 homes were sold in Orleans County; 41% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
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