Belle Chasse, LA: May 2008 Real Estate Absorption Report
May 16, 2008 by lisa
Filed under Belle Chasse, Blog, Market Updates
The overall supply of homes for sale in Belle Chasse, LA has increased slightly from the 10.2 months observed in April to the current 10.7 month supply. Keep in mind that a balanced real estate market has a 5-6 month supply of homes for sale…more than that indicates a buyers market for the area.
Belle Chasse homes priced in the under $200,000 range are selling very well and sellers in this price range are almost guaranteed a sale within a relatively short period of time. The $225,000-$250,000 range improved since April, cutting the supply of homes almost in half. The number of homes listed for sale has remained steady with 3 fewer listings than we saw at this time last month.
The $250,000-$300,000 range is moving slowly, as are homes priced above $350,000 (no sales in the last 90 days). The high cost of insurance in Plaquemines Parish continues to be an issue for home buyers, especially first time buyers, oftentimes increasing their mortgage payments dramatically and causing them to look to other parts of the West Bank for homes. If you are a seller on the upper end of the Belle Chasse housing market, be sure to keep your home in “show ready” condition - don’t give those rare buyers a reason to move on to another home.
Belle Chasse, LA 70037
Data provided by GSREIN and is deemed reliable, but not guaranteed.
Remember, this report is for the entire zip code 70037. If you would like a personalized report for your home and neighborhood, please contact Lisa Heindel, REALTOR®. I’d be happy to help keep you up to date with your piece of the Belle Chasse real estate market.
Related Reading:
Belle Chasse, LA: April 2008 Home Sales and Real Estate Market Report
Make Your Home the Star of the Neighborhood - Stage It!
5 Steps to Choosing Your New Orleans West Bank Real Estate Agent
Here’s the disclaimer part: The opinions expressed here are strictly those of the author, but you are free to share yours in the comments. All information is deemed reliable but not guaranteed,
Copyright 2008. Lisa Heindel, All rights reserved.
From your figures, I can see clearly that there is a strong demand for low to mid priced properties. Home hunters are probably adopting a wait-and-see attitude to luxury properties.
In Singapore where I live, I find it hard to get such data as we do not have an authoratitve and transparent MLS like in the US.