Old Metairie’s Real Estate Boom

by • July 18, 2014 • Jefferson Parish, ResidentialComments (0)1446

Photo via Frenchquartercondotrends.com

Photo via Frenchquartercondotrends.com

Like much of the rest of New Orleans, Old Metairie is experiencing a real estate boom, reports WWLTV.

On the residential front, houses are flying off the market.  Many homes are selling in less than three days.

The increase of home sales is the result of medical professionals, scientists and researchers moving into the area. Technology professionals are also contributing to the high demand.

Experts say that the increase of sales began in April and has picked up in the last two months.  One of the big draws of course is that the neighborhood is right next to New Orleans yet not technically in the city.

Average pricing per square foot has gone up by 5% and will consistently go up. A home in the neighborhood average list price is around $500,000.

Check out the full article here.

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