Market Conditions in 70001>Question Details

Phil And Lil…, Home Buyer in 70001

How is the real estate market in Metairie, specifically the 70001 zip code?

Asked by Phil And Lilach, 70001 Mon Oct 29, 2007

I am saling my house in Metairie, and I would like to know what is the market like in my area.

Help the community by answering this question:


To get interest, it needs to be priced right. Did your Realtor run:
1) a CMA of the number of homes like yours that are presently on the market?
2) a CMA of the number of solds like yours sold since June?

The market continues to evolve...some areas going up, and others staying steady. Things will get slow between Dec 20 to Jan3...I would get more info on actual solds, and possibly wait until Jan 3 before you drop the price....then in January have the agent add your house to the BROKER open house schedule...and add a bonus to the buyers agent.

Without more info such as SF, it is kind of hard to really tell why your home is not selling in Metarie. Stay positive...and apply what I have above....just remember, there is alot of Road home money being a billion dollars in our area alone!
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1 vote Thank Flag Link Tue Dec 11, 2007
It's all about price and condition. Because there are still a good number of homes on the market, how you price your home relative to other comparable homes in 70001 is critical. In fact, to increase your chances of success you may want to be a little more aggressive with your price. I know that's easier said then done but that can go a long way to cut down on the time it takes to sell your home. One good thing about 70001 is that it's typically been a high demand area and tends to command a premium. Condition is another factor that because of Katrina has come front and center. Hope this helps.
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1 vote Thank Flag Link Tue Jan 8, 2008
Have you sold your home yet? Make sure and try to put an entire package together such as a few banks in the area, insurance company quotes, and offer a warranty.
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1 vote Thank Flag Link Mon Dec 10, 2007
Have you sold your home yet? Typically, your area sells very well, especially if you are in an "X" flood zone (no flood history/higher elevation). In this market, the key to selling fast is to be priced correctly. Contact me for a free market analysis. I live in and specialize in 70001. Email me at
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1 vote Thank Flag Link Sat Dec 1, 2007
It varies depending on the size and exact location. We are selling well in the Houma Blvd areas, but it all depends on how one is pricing your home the amenties you have and the elevation.

Call or email me with more details and I can send you a Comparative Market Analysis so you can better see what your home could sell for. We could establish a marketing plan that includes a mortgage broker or two to help those people interested in purchasing your home.
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1 vote Thank Flag Link Tue Oct 30, 2007
Phil and Lil,
I would have your agent get together with an insurance, mortgage and Closing attorney and put together a package so when she/he has an open house they can hand the potential buyer a whole package of 'what it takes to get into the house" Also, have in the package a CMA / BPO of the recent SOLDS in both Metarie and Kenner that are the same SF and utility as yours...this way they can see the value in yours versus others.

The market is moving...alot of people getting Road Home money seeking a place in Metarie versus other areas, plus alot of professionals with money in their pocket and a few college degrees are also moving in. This is changing the entire perspective of potential buyers for your stay positive...only in this part of the country is there such a thing as "Road Home" we are positioned for unprecedented growth despite what the national media tries to say...real estate is more of a local environment as opposed to national trend.
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0 votes Thank Flag Link Sat Feb 2, 2008
Our house is on the market for over a month now. it is 3/2, 1400sqf, area 17, in exc cond. It is on the mls. we reduced it recentally from 220K to 199K. But I still do not see much traffic, and not one offer yet. Personally, I think it is a great price for the house...where are all the buyers? or is it a bad time to sale?
0 votes Thank Flag Link Tue Jan 8, 2008
No we didn't sold the house yet. Unfortunately, I am in a flood zone, and carry flood insurance. I am about to reduce the price, and I am amazed that we barley got any interest in the house, it is a really nice house. According to my realtor it is priced right.
0 votes Thank Flag Link Tue Dec 11, 2007
Go to the link below - I had put together for you solds since 10/1 through today and active listings on the market

hope this helps…
0 votes Thank Flag Link Sun Nov 11, 2007
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