$2,244 Closing Credit*
$189,000
1,696 SqFt
3 Beds
•1 Full Bath, 1 Partial
Chengwei Wu, Listing Office: NOLA Living Realty
Is Metairie, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$305,050
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$6,542(-2.1%)
Key Takeaway
Homes in Metairie have sold for 2.1% less than they did a year ago.
Summary: The median home sold price in Metairie was $305,050 in October 2024, down 2.1% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $90K | -18.2% |
| 2 Bedrooms | $200K | $165K | -17.5% |
| 3 Bedrooms | $299.3K | $290.3K | -3.0% |
| 4 Bedrooms | $399.6K | $385.5K | -3.5% |
| 5+ Bedrooms | $570K | $500K | -12.3% |
Summary: Metairie housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.2%, 2 bedroom homes decreased by 17.5%, 3 bedroom homes decreased by 3%, 4 bedroom homes decreased by 3.5%, and 5+ bedroom homes decreased by 12.3%.
Median Sold Price Compared To Nearby Cities
| Kenner | $258K | $263.3K | +2.1% |
| Kenner | $256.6K | $261.5K | +1.9% |
| New Orleans | $329.5K | $325.3K | -1.3% |
| Metairie | $311.5K | $305K | -2.1% |
Housing Supply in Metairie, LA
How many homes are available in Metairie, LA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 682 | 725 | +6.3% |
Summary: The Metairie real estate market had 725 homes for sale in October 2024, a 6.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 31 | 33 | +6.5% |
| 2 Bedrooms | 72 | 79 | +9.7% |
| 3 Bedrooms | 299 | 321 | +7.4% |
| 4 Bedrooms | 192 | 205 | +6.8% |
| 5+ Bedrooms | 88 | 87 | -1.1% |
Summary: The Metairie housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.5%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes decreased by 1.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 104 | 99 | -4.8% |
Asking Price vs. Sold Price
73 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Metairie, you may be able to get a good deal. 73.7% of homes here sold below asking price last month.
Summary: A total of 99 homes were sold or pending in Metairie in October 2024, down by 4.8% month-over-month. Of the 99 sold homes, 74% were sold under asking, 13% were sold at asking, and 13% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 40 Days | 59 Days | +45.9% |
Summary: Homes in Metairie had an average of 59 days on market in Oct 2024, up by 45.9% compared to last year.
Breakdown of Home Sale Times
48 Homes Were Sold
Under 30 Days
29 Homes Were Sold
In 30 - 90 Days
22 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 October 2024, 99 homes were sold in Metairie; 48% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 22% 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.