West Bank Real Estate Market Update, September 2007

The question on everyone’s lips these days seems to be “How’s the market?”

In compiling the following information on the West Bank real estate market, I noted the following information:

• The number of under contract listings (those scheduled to close) is significantly higher than the number closed in September, indicating an increase in buying activity
• The average sales price in Algiers increased from August to September
• The average sales price in Harvey/Marrero/Westwego remains steady
• The average sales price in Belle Chasse, Gretna and Terrytown decreased from August to September

September 2007 West Bank Real Estate Market Update
	Active Listings as of 10/1/2007	Low List Price	High List Price	Under Contract Listings as of 10/1/2007
Algiers	342	$ 46,000	$ 3,750,000	68
English Turn/Lower Coast	43	$ 127,900	$ 1,499,000	7
Belle Chasse	66	$ 45,000	$ 2,750,000	10
Gretna/Terrytown	237	$ 53,000	$ 1,800,000	37
Harvey/Marrero/Westwego	590	$ 45,000	$ 1,600,000	140
	# Homes sold in September, 2007	Average sales price September, 2007	Average days on market
Algiers	31	$ 182,927	135
English Turn/Lower Coast	2	$ 617,250	161
Belle Chasse	5	$ 279,400	69
Gretna/Terrytown	24	$ 153,347	96
Harvey/Marrero/Westwego	69	$ 167,838	61

 

 

Sales activity remains strongest for well priced investment opportunities and for turn-key homes that are move-in ready. Given the large number of homes that have been updated in our area in the last 2 years, it is imperative that you have addressed all repairs, made any improvements that are within your budget and staged your home to sell before putting it on the market.

 

The competition is still fierce for buyers, who have a large number of properties to choose from. Your home needs to be ready to show and priced right to make the cut in today’s market. Need more information on getting your home ready to sell? See these articles:

 

• Getting Ready to Sell - Home Staging Tips
• Getting Ready to Sell - Home Staging Tips Part II
• Getting Ready to Sell - Home Staging Tips Part III

Your West Bank Real Estate Specialist