The 2024 New Orleans residential statistics show that the average sales price, new listings, and days on market all increased, while the number of closed sales decreased year to date. However, some good news to realtors’ ears across the New Orleans area is that December’s monthly report shows that the number of closed sales may be trending in a positive direction heading into 2025. The New Orleans Metropolitan Association of Realtors (NOMAR) has published the December residential real estate statistics, which includes statistics for the entire year of 2024. 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 December 2024 report). Average Sales Price Increases 4.9% in 2024 In 2024, the average sales price for a single family home in the New Orleans metro area was $344,544, up 4.9% from the average sales price of $328,359. December’s average sales price was $360,859, up 12.1% YoY. In Orleans Parish, the average sales price in 2024 was $459,191, up 6.9% YTD from the 2023 average of $429,576. December’s average sales price in Orleans Parish was $467,108, up 11.2% YoY. The average sales price in Jefferson, St. Tammany, and St. Charles all ended on the positive side in 2024. In Jefferson Parish, the average sales price in 2024 was $310,094, up 4% YTD. St. Tammany Parish ended the year up 5% YTD, with an average sales price of $359,653, while St. Charles concluded the year up 1.9% YTD, with an average sales price of $292,078. Closed Sales Down 5.5%; New Listings Up 3.3% in 2024 The number of closed sales in New Orleans metro finished at 11,622, down 5.5% from 2023 when there were 12,302 closed sales. But, in December, there were 973 closed sales, which was up 12.1% year-over-year (YoY) when there were 868 closed sales in December 2023. In Orleans Parish, closed sales ended down 7.9% for the year with 2,571 closed sales in 2024, compared to 2,793 closed sales in 2023. However, again, Orleans Parish shows positive signs heading into 2025 with 228 closed sales in December 2024, up 14% YoY. It’s the same story in Jefferson and St. Tammany Parish. Jefferson Parish’s closed sales ended 2024 down 2.6% with 3,264 closed sales in 2024, compared to 3,351 in 2023. December’s closed sales are up 6.1% YoY in Jefferson Parish with 259 closed sales in December 2024. St. Tammany Parish closed out 2024 with 3,228 closed sales, down 5.2% YTD. December’s closed sales in St. Tammany Parish jumped 35.8% YoY with 277 closed sales in December 2024. The number of new listings finished on the positive side in 2024 with 21,468 new listings across New Orleans metro in 2024, which was up 3.3% YTD. The local parishes also experienced new listing increases throughout the year. Orleans Parish had 6,489 new listings in 2024, which was up 3.4% YTD. Jefferson Parish had 5,310 new listings in 2024, up 2.4% YTD, while St. Tammany Parish had 5,607 new listings in 2024, up 8.65 YTD. Days on Market Remain High in 2024 Days on market remained high throughout 2024 as homes took longer to sell across the New Orleans metro area. The days on market average was 62 DOM in 2024, up 21.6% YTD from the average of 51 DOM in 2023. The average DOM in Orleans Parish in 2024 was 71 DOM (up 14.5% YTD); Jefferson Parish’s average in 2024 was 56 DOM (up 16.7% YTD); and St. Tammany Parish’s average in 2024 was 59 DOM (up 34.1% YTD).