Here is a quick look at the current real estate market in Terrytown and Gretna, LA.
- 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.
- The under $160,000 price ranges are doing very well in Terrytown and Gretna, indicating a current sellers market in these popular price ranges.
- The overall supply of homes for sale in Gretna and Terrytown edged up slightly for the third month in a row, hitting 8.9 months as of 6/18/2008.
- There is an oversupply of homes for sale in the $225,000-$250,000 range, so home sellers who fall into this category should be prepared for a possible extended marketing time. Owners of homes in the over $300,000 price range might want to consider staging their homes to better position themselves in this tough category.
Real Estate Absorption Rates for Terrytown and Gretna as of 6/18/2008
If you are considering selling your home in Gretna or Terrytown, 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 real estate 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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