August 2026 Housing Market Update
Buyer Activity Picks Up as Home Prices Rise
As summer comes to a close, buyers are still making moves across the New Orleans metropolitan area. More homes went under contract in August than a year ago, even as fewer new listings entered the market. Home prices also rose, while the number of closed sales for the month dipped slightly.
Here’s a closer look at what August’s numbers mean for buyers and sellers.
Buyers Are Still Active
In August, 1,089 homes went under contract, a 4.5% increase from August 2025. Closed sales came in at 1,034, down 2.7% from the same month last year.
One month deson't tell the whole story, though. Through August, 8,278 homes have sold in 2026, putting closed sales 6.3% ahead of last year's pace. Year-to-date pending sales are up 7.2% as well.
Home Prices Are Higher Than Last Year
The median sales price reached $290,000 in August, up 5.2% from $275,750 a year earlier. The year-to-date median is $287,900, a 3.2% increase over the first eight months of 2025.
For buyers, that's a reminder to plan around today's prices and monthly payment. For sellers, it shows that homes are continuing to find buyers, though pricing still needs to reflect the property and its local competition.
Inventory Offers Room to Explore
There were 5,561 homes for sale at the end of August, down 3.9% from a year ago. New listings also edged down 1.1% for the month. At the current sales pace, the market had 5.5 months of inventory, compared with 6.1 months last August.
Homes that sold spent an average of 63 days on the market, four fewer days than a year earlier. Buyers still have options to consider, but a home that fits their needs may attract attention sooner than they expect.
What This Means for Buyers
The market offers a range of homes to explore, and sellers received an average of 97% of their list price in August. That leaves room for conversations about price and terms, depending on the home. A local agent can help you compare recent sales and decide what makes sense before you make an offer.
What This Means for Sellers
Buyer interest remains steady, with pending sales up from last August. At the same time, buyers have choices. A thoughtful asking price, strong presentation, and a marketing plan can help your home stand out.
Looking Ahead
August brought a mix of higher prices, more pending sales, and slightly fewer closed sales. As we move into fall, we'll be watching whether new contracts turn into closed sales and how inventory changes across the area.
Every neighborhood, every street, and every house has its own story—same goes for pricing. If you're thinking about buying or selling, we're here to help you understand the numbers that matter for your next move.
Ready for your next real estate move? Give us a call at 504-305-4930 talk through your goals, or visit us online at unitedrealestatepartners.com to explore resources and view the latest listings.
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