Harvey, LA: May 2008 Real Estate Absorption Report
The overall supply of homes for sale in Harvey has increased from the 8.7 months observed in April to the current 9.3 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.
Homes priced in the under $100,000 range are selling very well and sellers in this price range can feel fairly comfortable that they can sell their homes in a relatively short period of time. The $100,000-$140,000 range has slowed slightly, but is still performing. The number of homes listed for sale has remained steady with 5 fewer listings than we saw at this time last month.
The most active price range is $120,000-$180,000, so sellers in this range need to not only be aggressive in pricing their homes, they also need to remember to make them "show ready" at all times. Buyers have a large number of choices and are opting for homes that they perceive to be the best value in their price range. Also, sellers should remain open to negotiating closing cost assistance to buyers, who are no longer able to get 100% financing. More and more often, I’m seeing these assistance requests on mid-range priced homes since buyers are having to come up with more down payment funds.
Harvey, LA 70058
Data provided by Latter & Blum REALTORS® and is deemed reliable, but not guaranteed.
Remember, this report is for the entire zip code 70058. 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 Harvey real estate market.
Related Reading:
Harvey, 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
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.
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