Welcome to your Monthy Market Snapshot! On the second Thursday of each month, we’ll post a snapshot of essential stats of the New Orleans Metro Real Estate Market for Single-Family Detached Homes. If you wish to see stats specific to other areas around Nola, drop us a line here!
Below you’ll find graphs for each stat in the graphic above. The charts are over a one-year time frame to see the difference between 2022 & 2022.
New Listings: A count of the properties that have been newly listed on the market in a given month.
1835 Listings hit the NOLA Metro Market for May. That’s down from April but still up 6.7% from May 2021
Homes for Sale: The number of properties available for sale in active status at the end of a given month. Also known as inventory. For this metric, the “12/6/3 months” calculation is the average of the most recent 12/6/3 months of data.
The number of homes for sale is up from April and up to .1% from 2021.
Pending Sales: A count of the properties on which contracts have been accepted in a given month.
Pending Sales are slightly up from April and up 0.9% from May 2021.
Closed Sales- A count of the actual sales that have closed in a given month. Calculations are based on sold data.
Closed Sales are up from April but down 7.7% from May 2021.
Average Days on Market: Number of days between when a property is listed and when an offer is accepted in a given month.
Average Days on Market are down from April and 30.3% from May 2021.
Months Supply: The inventory of homes for sale at the end of a given month, divided by the average monthly Pending Sales from the last 12 months. Also known as absorption rate.
Months Supply is equal to April, with a 13.3% increase from May 2021.
Price Per SqFt: Calculations are based on sold data. Prices do not account for seller concessions. Average is the mean sales price for homes sold in a given month divided by the number of finished square feet
Avg Price per SqFt is slightly up from April with a 10.7% increase from May 2021.
Shows to Pending: The number of showings scheduled per listing that went into pending status during the selected reporting period.
In May, listings averaged 12 showings before it was under contract. This is up from April and equal to May 2021.
Questions? Reach out to one of our advisors for a chat!