Is Metairie, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Metairie was a Seller's Market.
Key Takeaway
Metairie is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Metairie, LA
How much do homes in Metairie, LA cost?
Median Sold Price
$314,290
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Metairie have sold for 2.8% more than they did a year ago.
Summary: The median home sold price in Metairie was $314,290 in April 2024, up 2.8% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $106K | $104K | -1.9% |
| 2 Bedrooms | $190K | $177.5K | -6.6% |
| 3 Bedrooms | $299.4K | $291K | -2.8% |
| 4 Bedrooms | $402K | $405K | +0.7% |
| 5+ Bedrooms | $605K | $512.4K | -15.3% |
Summary: Metairie housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.9%, 2 bedroom homes decreased by 6.6%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes decreased by 15.3%.
Median Sold Price Compared To Nearby Cities
| Kenner | $248.1K | $265K | +6.8% |
| Kenner | $250K | $265K | +6.0% |
| Metairie | $305.7K | $314.2K | +2.8% |
| New Orleans | $336K | $325.1K | -3.2% |
Housing Supply in Metairie, LA
How many homes are available in Metairie, LA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 653 | 720 | +10.3% |
Summary: The Metairie real estate market had 720 homes for sale in April 2024, a 10.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 30 | 40 | +33.3% |
| 2 Bedrooms | 71 | 64 | -9.9% |
| 3 Bedrooms | 310 | 323 | +4.2% |
| 4 Bedrooms | 175 | 207 | +18.3% |
| 5+ Bedrooms | 67 | 86 | +28.4% |
Summary: The Metairie housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 9.9%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 18.3%, and 5+ bedroom homes increased by 28.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 123 | 119 | -3.3% |
Asking Price vs. Sold Price
84 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Metairie, you may be able to get a good deal. 70.6% of homes here sold below asking price last month.
Summary: A total of 119 homes were sold or pending in Metairie in April 2024, down by 3.3% month-over-month. Of the 119 sold homes, 71% were sold under asking, 18% were sold at asking, and 12% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 47 Days | 54 Days | +14.2% |
Summary: Homes in Metairie had an average of 54 days on market in Apr 2024, up by 14.2% compared to last year.
Breakdown of Home Sale Times
63 Homes Were Sold
Under 30 Days
29 Homes Were Sold
In 30 - 90 Days
27 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 April 2024, 119 homes were sold in Metairie; 53% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
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