In my experience this happens for a couple of reasons; either you have two copies of Meteor running, or you have orphaned a copy of Meteor (e.g. by closing the command prompt or shell you started it from) and it is still running in the background.
If you have two copies running you can force Meteor to use a different port with the --port
parameter when you launch meteor, e.g. meteor --port 5005
.
If you have orphaned an instance of Meteor you will need to kill the node instance that's running it - this question explains how to stop node instances.