Here is a quick look at the current real estate market in English Turn.
- A balanced real estate market has on average a 5-6 month supply of homes for sale. Typically, over 6 months of inventory indicates a buyers market.
- There is a shortage of homes priced under $400,000 in English Turn, presenting a great selling opportunity for long time owners with equity in their homes.
- With a 17.8 month supply of homes for sale in the community, owners in English Turn should be prepared for an extended marketing time when selling their home – no short term listings should even be considered at this point.
Real Estate Absorption Rates for English Turn as of 6/18/2008
Remember, an absorption report is a snapshot of the market at the current time, and the statistical odds of selling in 90 days will vary depending on the number of homes for sale and recent closed sales. This is not a guarantee that your home will sell within this timeframe, only a tool to use to gauge buyer interest in the various price ranges in the area.
If you are considering selling your home in English Turn, it’s critical to be aware of the current market environment and to understand what competition you are facing. For local, expert advice when selling your New Orleans West Bank home, please contact Lisa Heindel, REALTOR®. I’d be happy to help you properly prepare and price your home for our current, challenging market.
Related Reading:
5 Steps to Choosing Your New Orleans West Bank Real Estate Agent
Make Your Home the Star of the Neighborhood – Stage It!
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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