$3,551 Closing Credit*
$299,000
1,922 SqFt
5 Beds
•2 Full Baths, 1 Partial
Marilyn Bonomo, Listing Office: LATTER & BLUM (LATT30)
Is Metairie, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Metairie was a Seller's Market.
Key Takeaway
Metairie is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Metairie, LA
How much do homes in Metairie, LA cost?
Median Sold Price
$307,189
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$3,800(-1.2%)
Key Takeaway
Homes in Metairie have sold for 1.2% less than they did a year ago.
Summary: The median home sold price in Metairie was $307,189 in November 2024, down 1.2% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $108.5K | $92.5K | -14.7% |
| 2 Bedrooms | $206.5K | $162.5K | -21.3% |
| 3 Bedrooms | $297.1K | $293K | -1.4% |
| 4 Bedrooms | $400K | $387K | -3.3% |
| 5+ Bedrooms | $548K | $520K | -5.1% |
Summary: Metairie housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.7%, 2 bedroom homes decreased by 21.3%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes decreased by 5.1%.
Median Sold Price Compared To Nearby Cities
| Kenner | $258K | $264K | +2.3% |
| Kenner | $256.4K | $262K | +2.2% |
| New Orleans | $329.6K | $327.6K | -0.6% |
| Metairie | $310.9K | $307.1K | -1.2% |
Housing Supply in Metairie, LA
How many homes are available in Metairie, LA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 690 | 682 | -1.2% |
Summary: The Metairie real estate market had 682 homes for sale in November 2024, a 1.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 31 | 29 | -6.5% |
| 2 Bedrooms | 80 | 85 | +6.3% |
| 3 Bedrooms | 303 | 290 | -4.3% |
| 4 Bedrooms | 192 | 196 | +2.1% |
| 5+ Bedrooms | 84 | 82 | -2.4% |
Summary: The Metairie housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 6.5%, 2 bedroom homes increased by 6.3%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes decreased by 2.4%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 106 | 91 | -14.2% |
Asking Price vs. Sold Price
69 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Metairie, you may be able to get a good deal. 75.8% of homes here sold below asking price last month.
Summary: A total of 91 homes were sold or pending in Metairie in November 2024, down by 14.2% month-over-month. Of the 91 sold homes, 76% were sold under asking, 19% were sold at asking, and 5% were sold over asking.
Days on Market for Metairie, LA
How long does it take to sell a home in Metairie, LA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 46 Days | 48 Days | +4.7% |
Summary: Homes in Metairie had an average of 48 days on market in Nov 2024, up by 4.7% compared to last year.
Breakdown of Home Sale Times
46 Homes Were Sold
Under 30 Days
26 Homes Were Sold
In 30 - 90 Days
19 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Metairie are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 91 homes were sold in Metairie; 51% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
Disclaimer: Copyright © 2024, New Orleans Metropolitan Association of REALTORS©, Inc. All rights reserved. Information deemed reliable, but not verified or guaranteed. Users are responsible for checking the accuracy, completeness, currency, and status of all information. The sharing of MLS database, or any portion thereof, with any unauthorized third party is strictly prohibited. Information contained on this site is believed to be reliable; yet, users of this web site are responsible for checking the accuracy, completeness, currency, or suitability of all information. Neither the New Orleans Metropolitan Association of REALTORS©, Inc. nor the Gulf South Real Estate Information Network, Inc. makes any representation, guarantees, or warranties as to the accuracy, completeness, currency, or suitability of the information provided. They specifically disclaim any and all liability for all claims or damages that may result from providing information to be used on the web site, or the information which it contains, including any web sites maintained by third parties, which may be linked to this web site.