English Turn: September 2008 Home Sales and Real Estate Market Reports

Current real estate market statistics for English Turn as of October 8, 2008:

39 active listings, priced from $399,900 to $1,595,000 (down from 44 listings last month)
Average list price of $580,000
3 under contract listings, priced from $499,900 to $759,000

English Turn – Number of Homes Sold September 2008

For the first time since August 2005 (Hurricane Katrina) there were NO closed sales in the English Turn subdivision. Year to date, there have been 21 sales (an average of 2.33 homes per month).

Of interest is the fact that 2 of the currently under contract listings have been pending sale for over 45 days, while one home was placed under contract in the latter part of September.

Historically, we have seen 3 to 4 English Turn homes per month sell in the 4th quarter of each year. It will be interesting to see how the changes in the market will impact sales in 4th quarter 2008 since jumbo loan financing criteria, like most other products, has become stricter.

English Turn – Average Home Sale Prices September 2008

With no sales recorded in September, the average English Turn home sale price year-to-date has not changed from the $576,849 noted in August.

I wish that I had some words of encouragement for home sellers in English Turn. The best advice I can give is to make your home stand head and shoulders above all of the others in your price range to attract the attention of potential buyers. If you need a marketing plan designed to provide nationwide exposure for your property, contact Lisa Heindel, your West Bank real estate specialist.

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