People who are moving because of a job change or transfer usually have a specific time frame for when they 
need to be in their new city. Jobs have to start on time, kids may need to be enrolled in school and you’ll need to find a new place to live. Relocating is a big deal with a lot work that goes along with it, even for those who have done it time and time again. Unfortunately, it is not always possible to plan far enough ahead. Sometimes a dream job drops in your lap or a big lifestyle change happens without notice.
Have you considered how long it might take to sell your current home if you find yourself in the position of relocating?
One good indicator is the average days on market in your area. With the current inventory of West Bank homes for sale, there is a lot of competition for qualified buyers. Changes in the mortgage market, increases to FHA down payments and the elimination of seller assisted down payments have all combined to shut some potential buyers out of the market for the time being. With this limited number of buyers, a large pool of homes for sale and a deadline for selling, your price, which is always important, becomes the most critical factor impacting how long you can expect your home to be on the market.
It should be noted that homes on the higher end of price ranges are generally taking longer to sell than the averages below.
| Area | Average DOM July 2008 | Average DOM 2008 YTD |
| Algiers 70131 |
108 |
121 |
| Algiers 70114 |
62 |
94 |
| Algiers Point |
82 |
86 |
| English Turn |
201 |
173 |
| City of Gretna 70053 |
56 |
83 |
| Gretna/Terrytown 70056 |
60 |
78 |
| Belle Chasse |
124 |
96 |
| Harvey |
77 |
79 |
| Marrero |
113 |
83 |
| Westwego, Avondale, Bridge City |
62 |
80 |
DOM = Days on Market. Data compiled from GSREIN and is deemed reliable, but not guaranteed.
The numbers above are obviously for broad areas and your community may be selling at a different rate. For a more detailed look at your particular neighborhood, feel free to contact Lisa Heindel for an up-to-date and in depth market analysis that is more than just numbers.
Copyright 2008. West Bank Living All rights reserved.
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