Marrero, LA: March 2008 Home Sales and Real Estate Market Update

Good news for Marrero home sellers!  The inventory is down to a manageable 6.8 month supply of homes for sale - just a hair above a balanced supply and demand for homes in the area.  Take a look at the current (as of 4/6/2008) and historical sales information for Marrero:

• 265 active listings, priced from $44,900 to $1,600,000
• 13 pending listings (contract accepted, but still showing), priced from $79,000 to $199,999
• 2 open predication listings (contract accepted, but waiting on purchaser’s home to sell), priced from $220,000 to $285,000
• 55 under contract listings, priced from $49,900 to $395,000

Marrero, LA: Number of Homes Sold

There were 39 closed sales in Marrero in March 2008, just slightly below the 44 closed in March of 2007, and continuing the upward trend in the number of homes sold since the beginning of the year.

1st quarter sales were up just a tad from the 4th quarter of 2008.  With the start of the spring selling season, we can expect that number to continue to remain steady (and hopefully increase).

Marrero, LA: Average Home Sale Price

The average home sale price continued to climb for the 3rd straight month in Marrero, ending at $159,860 in March.  While average sales prices are not in the same range as the 3rd and 4th quarters of 2007, the fact that the market has balanced out is good news, since there is less fluctuation in average prices in a balanced market.

With the return of buyers to the market, home owners that are considering selling their Marrero home need an experienced West Bank agent to market their home to the largest number of qualified buyers possible. 

If you need more information on pricing or preparing your Marrero home for sale, feel free to call me, drop me a line or leave a comment below.  I’d love to help you meet your real estate goals!