The New Orleans Metropolitan Association of Realtors (NOMAR) has published the November residential real estate statistics, and with one month left to report, the story of the local 2024 market and this year’s trends are starting to become more apparent. The average sales price remains steady. New listings remain about even. Days on the market remain high. Closed sales are down. Every month, NOMAR publishes statistics for the 10-parish metro area – Jefferson, Orleans, Plaquemines, St. Bernard, St. Charles, St. John, St. James, St. Tammany, Tangipahoa, and Washington. (Click here for the NOMAR Local Market Update November 2024 report). In November, the average sales price for a home in New Orleans metro was $337,277, up 4.5% year-over-year, and up 4.4% year-to-date. Orleans Parish maintains the highest average sales price of the local parishes, reporting $463,134 in November 2024, up 4.6% YoY and up 6.7% YTD. Jefferson Parish experienced the largest average sales price increase in November, jumping 14.3% YoY to $312,053. Jefferson Parish’s average sales price is also up 3.2% YTD, with an average of $309,446 through the first 11 months of 2024. St. Tammany Parish’s average sales price in November 2024 was $328,384, down 1.2% YoY, but the parish is up YTD with an average sales price of $358,589 through the first 11 months, up 4.6% YTD. The number of closed sales is down 7.3% YTD in New Orleans metro with 10,589 reported throughout the first 11 months. In November, there were 813 closed sales, down just 0.7% YoY. In Orleans Parish, closed sales are down 9.9% YTD with 2,336 reported throughout the first 11 months. There were 186 closed sales in Orleans Parish in November, which was down 2.1% YoY. In Jefferson Parish, closed sales are down 3.8% YTD with 2,989 reported in the first 11 months. The parish had 208 closed sales in November, which is down 8.8% YoY. St. Tammany Parish had a bounce back month in closed sales with 240 reported in November, up 8.6% YoY, but the parish remains down YTD, down 8.2% with 2,937 reported in the first 11 months. There were 1,362 new listings in November in the New Orleans metro area, down 5.9% YoY, but the 20,175 new listings through the first 11 months of this year are up 2.7% YTD, compared to the same time period in 2023. In Orleans Parish, new listings are up 3.4% YTD with 6,120 reported in the first 11 months, however, Orleans Parish’s new listings dropped 13.3% YoY with 373 reported in November. Jefferson Parish shares the same story regarding closed sales. In Jefferson Parish, new listings are up 1.9% YTD, with 5,004 reported in the first 11 months, but November’s 346 new listings in Jefferson Parish are down 4.7% YoY. In St. Tammany Parish, new listings are up 7.2% YTD, with 5,254 reported in the first 11 months, and November’s 395 new listings in St. Tammany Parish are up 15.2% YoY. Days on market increased to an average of 67 DOM in the New Orleans metro area, up 17.5% YoY, and the 61 DOM through the first 11 months of 2024 is up 19.6% from the 51 DOM through the first 11 months of 2023. Days on market are up double-digit percentages YTD across all three major parishes. Orleans Parish checks in at an average of 71 DOM through the first 11 months, up 16.4% YTD. Jefferson Parish’s 55 DOM is up 17% YTD, while St. Tammany Parish’s 59 DOM is up 34.1% YTD.