Terez Harris NOLA Real Estate Group Details the Old Metairie Real Estate Market

METAIRIE, La. - April 22, 2014 - PRLog -- There are currently 98 active listings for single family homes and condos in Old Metairie (70005). Only 1% of those are distressed listings (short sales and forclosures). The average number of days on the market is 61. The median, or average, listing price is $256,590.

Understand the difference between "listing prices" (what sellers are asking for) and "sold prices" (what buyers are willing to pay).

By comparing these price trends, you'll have a good idea of where the market is heading. The median listing and sold property prices are calculated based on the market activity each month.

http://www.TerezSellsNolaProperties.com/mimarket/zip/70005/

The median number of days active properties have been listed in Old Metairie is 61. This is significantly shorter than the national average.

The number of active listings has increased by 6.5% from the previous month.

56.96% of homes are owned.

35.73% of homes are rentals, which is 16.53% above the national average, but very typical for urban areas.

Median household income in the Old Metairie (70005) is $55,960 with 434 households earning between $35,000 and $40,000 annually.

26.70% of the people have completed a bachelor’s degree as their highest education level.

Currently, Old Metairie holds 11,926 homes. Out of those homes, 2,783 are homes with children. The median age is 44, and 35% of residents are married.

QUOTE:

"We are currently experiencing an inventory shortage in the Metairie area. There are more buyers seeking to move to the area than there are available homes for sale. That's why I have been encouraging those who are thinking about selling that now is definitely the time!"

-says Terez Harris, Lead Agent at Terez Harris NOLA Real Estate Group.