Belle Chasse, LA: What’s Selling in Belle Chasse

I recently posted the 2006 and 2007 home sales information for Belle Chasse, LA here:

Belle Chasse LA: 2007 Home Sales Market Report

An overview of the Belle Chasse home sale market is a helpful tool, but I like to go a little deeper and take a look at the individual price ranges and how they are performing. This opens a window into the recent activity by home buyers in the area, a chance to see what they are looking for.

A review of the absorption report for Belle Chasse, LA shows that there is an overall 14.4 month supply of homes for sale. A healthy real estate market has, on average, about a 5 to 6 month supply of homes for sale. Belle Chasse currently has more than a year’s worth of inventory, if no more homes are placed on the market (which we know is not realistic). In the over $250,000 price range, only 2 sales have been closed in the last 3 months. Unless buying rates increase, sellers are in for the long haul when marketing their Belle Chasse property for sale. This is not meant to be doom and gloom, but home buyers and sellers need to be aware of the realities of today’s market.

What does this mean for Belle Chasse home sellers?

In order to grab the attention of the buyers that are looking in your market, it is critical that your home is priced right and shows well. As you can see from the chart below, there is a lot of competition for those buyers, and they will simply move on from an overpriced home rather than trying to haggle with a seller who is holding out for a higher price. With only 4.3 homes per month selling, what are you doing to make yours stand out?

What does this mean for Belle Chasse home buyers?

You have the greatest number of choices in homes for sale right now, in a wide variety of price ranges. While sellers may be flexible in prices and terms, they will not entertain offers from buyers who have not taken the time to visit their mortgage lender to get pre-approved. The first step in your home buying process is to meet with a reputable (and preferably local) lender who can explain all of your financing options and help you narrow down your price range to one that you are comfortable with.

Belle Chasse, LA Home Sales in Zip Code 70037

(as of 1/5/2008)

Reports like the one above can also be prepared for individual neighborhoods. If you would like more information on buying or selling a home in Belle Chasse, please contact Lisa Heindel, REALTOR®. I would be happy to prepare a personalized report for you or provide you more in depth information on the market in your neighborhood.