English Turn: May 2008 Real Estate Absorption Report
The overall supply of homes for sale in English Turn has increased from the 18.7 months observed in April to the current 21.5 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.
English Turn continues to suffer from lagging home sales in every price range and continues to have over a one and a half year supply of homes for sale across the community. The number of homes listed for sale has remained steady with the same number of listings that we saw at this time last month.
With so much competition for buyers in the area, sellers are being forced to become more flexible in both price and terms when selling their English Turn home. As shown in the chart below, homes under $400,000 are in demand, but there are not any currently listed homes in that price range.
The over $500,000 price range has always been a harder sell on the West Bank, but with over 40 competing homes for sale in English Turn, now is the time to be sure that your marketing plan is reaching the largest number of potential buyers and that your home is staged and ready to sell. Amazingly enough, 35% of the homes for sale in English Turn have no virtual tour or less than the maximum number of photos allowed in the Multiple Listing Service.
English Turn Subdivision
Data provided by Latter & Blum REALTORS® and is deemed reliable, but not guaranteed.
If you would like a custom market report for your home, please contact Lisa Heindel, REALTOR®. I’d be happy to help keep you up to date with your piece of the English Turn real estate market.
Related Reading:
Algiers, LA 70131: May 2008 Real Estate Absorption Report
English Turn: 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
When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.
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.
No responses yet
