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Last week we touched up on some housing stats in New Orleans. This week we are going to take a look st some interesting housing stats in Metairie over the last six months. This includes all properties (single family, multi-family, vacant land & condos) in all conditions (excellent to poor) over that time period.
Here's how the 726 homes were bought.
47% - conventional loans
28% - cash
20% - FHA loan
3% - VA loan
.004% - Bond for Deed
0% - Owner Financing
The graph below shows the quantity of homes sold in a given price range along with the days on market.
Price RangeQuantityAverage DOM SummaryList PriceSale Price
$49,999 or under
| 25 |
118.72 |
High
$1,497,000 |
$1,420,000 |
$50,000 - $74,999
| 35 |
168.63 |
Low
$19,900 |
$16,280 |
$75,000 - $99,999
| 36 |
101.33 |
Average
$248,084 |
$236,989 |
$100,000 - $119,999
| 41 |
117.29 |
Median
$199,000 |
$190,250 |
$120,000 - $139,999
| 42 |
89.64 |
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|
|
$140,000 - $159,999
| 69 |
74.13 |
|
|
|
$160,000 - $179,999
| 72 |
78.86 |
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|
|
$180,000 - $199,999
| 70 |
76.89 |
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|
|
$200,000 - $249,999
| 108 |
71.42 |
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|
|
$250,000 - $299,999
| 82 |
78.40 |
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|
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$300,000 - $399,999
| 59 |
84.27 |
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|
|
$400,000 - $499,999
| 31 |
101.87 |
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$500,000 - $749,999
| 40 |
118.65 |
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|
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$750,000 - $999,999
| 11 |
172.36 |
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$1,000,000 or over
| 5 |
92 |
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Total
| 726 |
91.67 |
The chart below shows the number of listings and when sold. A remarkable 41% of all listings sell within the first 30 days.
0-30 Days31-60 Days61-90 Days91-120 Days
No. of Listings
| 298 |
109 |
77 |
60 |
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Breakdown %
| 41.05% |
14.88% |
10.61% |
8.26% |
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Avg % SP/LP
| 97.13% |
94.27% |
94.32% |
94.4% |
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The average sales price over the last six months:
Dec. 2012 - $244,496
Jan. 2013 - $247,672
Feb. 2013 - $238,305
Mar. 2013 - $239,371
Apr. 2013 - $240,616
May 2013 - $246,313
Housing prices in Metairie continue to hold steady, but the demand is certainly going up and up.
Please join us for our next blog installment on Monday, June 24, 2013
Please view our neighborhood market data on Thursday, June 20, 2013
Your source for New Orleans Real Estate
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