Is Metairie, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Metairie has remained a Seller's Market.
Housing Prices in Metairie, LA
How much do homes in Metairie, LA cost?
Median Sold Price
$310,128
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Metairie was $310,128 in March 2024, up 0.6% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $105K | $105.1K | 0.1% |
2 Bedrooms | $175K | $180K | +2.9% |
3 Bedrooms | $302.5K | $290K | -4.1% |
4 Bedrooms | $410K | $401.2K | -2.1% |
5+ Bedrooms | $590K | $525K | -11.0% |
Summary: Metairie housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.1%, 2 bedroom homes increased by 2.9%, 3 bedroom homes decreased by 4.1%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes decreased by 11%.
Median Sold Price Compared To Nearby Cities
Kenner | $250K | $265K | +6.0% |
Kenner | $250.4K | $265K | +5.8% |
Metairie | $308.1K | $310.1K | +0.6% |
New Orleans | $340.5K | $329.1K | -3.3% |
Housing Supply in Metairie, LA
How many homes are available in Metairie, LA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
616 | 683 | +10.9% |
Summary: The Metairie real estate market had 683 homes for sale in March 2024, a 10.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 27 | 30 | +11.1% |
2 Bedrooms | 70 | 69 | -1.4% |
3 Bedrooms | 289 | 322 | +11.4% |
4 Bedrooms | 167 | 188 | +12.6% |
5+ Bedrooms | 63 | 74 | +17.5% |
Summary: The Metairie housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes increased by 17.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
76 | 116 | +52.6% |
Asking Price vs. Sold Price
84 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 116 homes were sold or pending in Metairie in March 2024, up by 52.6% month-over-month. Of the 116 sold homes, 72% were sold under asking, 11% were sold at asking, and 16% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
48 Days | 46 Days | -5.5% |
Summary: Homes in Metairie had an average of 46 days on market in Mar 2024, down by 5.5% compared to last year.
Breakdown of Home Sale Times
64 Homes Were Sold
Under 30 Days
29 Homes Were Sold
In 30 - 90 Days
23 Homes Were Sold
Over 90 Days
Summary: During March 2024, 116 homes were sold in Metairie; 55% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.