Old Metairie seeing real estate boom driven by medical professionals



Posted on July 16, 2014 at 10:24 PM

Tania Dall / Eyewitness News
Email: tdall@wwltv.com | Twitter: @taniadall

METAIRIE, La. -- The real-estate boom in New Orleans is now being felt across the parish line in Old Metairie.

Sellers and buyers are seeing homes snatched up within days.

Real estate experts say much of the craze is being fueled by medical professionals moving to town.

"I'd call the realtor and she'd say, oh well, and she'd say I'm sorry, I have two offers. This happened to me four times, and I was like, what is going on?" said Susan Bernecker with JonSue Mortgage.

Turn any corner in Old Metairie and the "for sale" signs are out on front lawns. However, not for very long.

Bernecker lives in the area and is looking to upgrade. The Jefferson Parish native says she's missed out on at least four homes in recent weeks driven by medical professionals coming to town.

"Scientists, researchers and even in the tech area because New Orleans is becoming a little tech savvy with some companies," Bernecker said.

Real estate experts say increase in Old Metairie home sales started in April, picking up in the last two months.

"A doctor is purchasing the home. It's a seven-year-old home, made to look like an older Uptown-style home," said realtor Joyce Delery of a recent home on Beverly Drive which just sold for almost $1 million.

Delery says doctors and pro-athletes are being lured to the Jefferson Parish neighborhood because of its close proximity to New Orleans are undeterred by a recent spike in prices.

"The average price per square foot has gone up by 5 percent over the past last year, and it consistently goes up," said Delery.

With the average list price of a home in the neighborhood around $500,000, real estate might be a steal for some buyers, but not all.

"There are some locals. Finally they've reached the point where they want to change the neighborhood or they wanted to live here, and they can't get the price of the house they wanted because of what's been happening the last few months," added Bernecker.

Real estate experts says modern homes designed with New Orleans historic charm are off the market within 30 days of being listed.

Recently, several homes in the area have sold in as few as three days.