Belle Chasse LA 70037 | 2009 Real Estate Year in Review

Current real estate activity in Belle Chasse LA:

49 homes are for sale in Belle Chasse

• High list price $1,700,000
• Low list price $78,800
• Average list price $359,941
• Median list price $299,000

5 homes are under contract or pending sale, priced from $196,000 to $375,000

 

Based on the number of December sales (4), there is a one year supply of homes for sale in Belle Chasse

**The inventory supply estimate will move up and down based on active listings and the number of sales

Belle Chasse LA | Number of Homes Sold | December 2009

Belle Chasse ended 2009 with a total of 67 homes sold, down 11.8% from the number sold in 2008.  

How does Belle Chasse compare to the rest of the New Orleans West Bank?

	Belle Chasse	New Orleans West Bank
Active listings	49	1,132
Average list price	$359,941	$192,467
Average days on market (actives)	149	141
Homes sold in 2008	67	1,429
Average days on market (solds)	112	96

Those 67 sales made up 4.7% of the West Bank real estate market in 2009, down slightly from 4.9% of the 2008 sales.  What does this mean?  Belle Chasse is staying steady in it’s command of market share.   Sales are taking slightly longer (note the average days on market), due to the fact that the higher average price ranges mean a smaller pool of qualified buyers.

Some other items of note

• Despite the national news, bank owned properties are rare in the area, with only 4 foreclosure sales in Belle Chasse in all of 2009.
• 15% of the 2009 home sellers provided some sort of closing cost assistance to the buyers
• Conventional financing continued to capture the lion’s share of the market in 2009

 

Belle Chasse LA | Average Home Sale Prices | December 2009

Don’t let that big jump in the average sale prices in December fool you!  2 of the 4 December sales were of high end properties – one for $650,000 and another for over $1 million – that pushed that average way up.  Instead, look at the year to date average home sale price in Belle Chasse of $301,840 to get a better idea of what the market is doing.

While the 2009 average was down from the previous year, homes prices are still substantially above that of any other West Bank community.  Unless you purchased your home in the last year or two, you have more than likely experienced an increase in equity.

	Belle Chasse	New Orleans West Bank
Average sale price	$301,840	$156,546
Average list price	$359,941	$192,467

 

All data is provided by GSREIN and is deemed reliable, but not guaranteed

Related information

• Belle Chasse LA community information
• Belle Chasse LA homes for sale
• New Orleans West Bank homes for sale

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For more information about home buying or selling in Belle Chasse or a relocation to or from NAS JRB New Orleans, please contact the West Bank Living Team.  It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!

Belle Chasse LA 70037 | November 2009 Home Sales and Real Estate Market Reports

Current real estate activity in Belle Chasse LA:

49 homes are for sale

• High list price $1,700,000
• Low list price $78,800
• Average list price $357,273
• Median list price $295,000

5 homes are under contract or pending sale, priced from $150,000 to $375,000

Based on the number of homes sold in November (7), there is a 7 month supply of homes for sale in the area

Belle Chasse LA | Number of Homes Sold | November 2009

Belle Chasse ended November with 7 homes sold, bringing the year to date total to 63 (down from 71 at this time last year).  The 7 month supply of homes for sale is only slightly above a balanced real estate market, good news for sellers in the area.

The average days on market has bounced around from month to month, but is currently running around 120 days from the time a home comes on the market to when it receives an acceptable offer.   There will always be those that run higher or lower than the average, especially in the higher end price range that takes longer to sell.

Belle Chasse LA | Average Home Sale Prices | November 2009

While the year to date average sale of $286,421 is about 13.6% lower than last year’s average, Belle Chasse home sales are still higher than the post Katrina prices of 2006.  Unless you have been in your home for less than 3 years, you can anticipate an increase in the equity in your house provided it has been appropriately maintained.

Find out what’s going on in your West Bank neighborhood with this week’s free market snapshot.

All data provided by GSREIN and is deemed reliable, but not guaranteed

Belle Chasse LA Homes for Sale
New Orleans West Bank Homes for Sale

Home buying tips
Home selling tips

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For professional representation when buying or selling a home on the West Bank of New Orleans, please contact the West Bank Living Team.  It would be our pleasure to assist you with any of your real estate needs – and have a little fun while doing it!

Belle Chasse LA 70037 | October 2009 Home Sales and Real Estate Market Trends

Current real estate activity in Belle Chasse LA:

49 homes for sale

• High list price $900,000
• Low list price $78,800
• Average list price $348,235
• Median list price $320,000

9 homes are under contract or pending sale, priced from $59,900 to $1,300,000

Based on the number of homes sold in October (6), there is a 8.17 month supply of homes for sale

Belle Chasse LA | Number of Homes Sold | October 2009

Home sales in Belle Chasse continue to hold steady, with 6 homes sold in October. This brings the year to date total number of single family homes sold to 56, compared to 66 at the same time in 2009.  With 9 homes currently under contract, it looks like we will end the year with about 10% fewer sales than last year.
Financing choices continue to be spread out, with 2 FHA sales, 2 conventional sales and 2 cash sales recorded in October.  Interestingly, VA loans have been used in only 17.8% of Belle Chasse home sales this year, despite the fact that NAS JRB New Orleans is located in the area.  More than likely, it is because the majority of incoming military families are looking for housing that is a little more affordable than that offered in the Belle Chasse community.

Belle Chasse LA | Average Home Sale Prices | October 2009

While there was a spike in the average sale price in October due to a $975,000 sale, the year to date average of $273,742 is down 17.45% from 2009.  The good news is that the year to date average is well above that of 2005, so unless you purchased your Belle Chasse home in 2006-2008, the odds are good that you have increased your equity in your home.

Of course, all neighborhoods are performing differently, so if you would like a report of recent sales and listings in yours, sign up for your free Market Snapshot.

All information is provided by GSREIN and is deemed reliable, but not guaranteed

You may also be interested in:

Belle Chasse homes for sale
New Orleans West Bank Homes for Sale

Home Buying Tips
Home Selling Tips

The West Bank Living Team provides professional buyer and seller representation on the West Bank of New Orleans.  Please feel free to call or email us with any of your real estate questions.

Belle Chasse LA 70037: September 2009 Home Sales and Real Estate Market Reports

Current real estate activity in Belle Chasse LA:

53 homes are for sale

• High list price $1,100,000
• Low list price $99,000
• Average list price $355,572
• Median list price $292,450

12 homes are under contract or pending sale, with an average list price of $347,809.

 

Based on the number of homes sold in September (6), there is an 8.8 month supply of homes for sale in Belle Chasse.

Belle Chasse LA – Number of Homes Sold – September 2009

As of September 2009, there have been 50 homes sold in Belle Chasse this year, compared to 59 at the same time last year (a decrease of 15% in the number of sales).  The area continues to buck the financing trend with the majority (67%) of home buyers using conventional mortgages instead of the more popular FHA loans.

Type of Financing Used in 2009	Number of homes financed
Convention	19
FHA	10
VA	10
Cash	7
Other	4

 

 

Belle Chasse LA | Average Home Sale Price | September 2009

Home prices in Belle Chasse have dropped significantly from 2008 to 2009 (21%), ending September with an average home sale price of $262,411, reversing the increasing prices the area has experienced for the last few years.  However, unless you purchased your Belle Chasse home in 2006-2008, the odds are good that you have still seen an increase in the amount of equity you have in your home.

 

All data provided by GSREIN and is deemed reliable, but not guaranteed

 

Belle Chasse LA homes for sale
Belle Chasse Real Estate Market Reports

Find out what’s going on in your West Bank neighborhood with this week’s free market snapshot.

Questions?  Contact the West Bank Living team

Belle Chasse LA 70037: August 2009 Home Sales and Real Estate Market Reports

Current real estate activity in Belle Chasse LA:

47 homes for sale

• High list price $1,100,000
• Low list price $127,000
• Average list price $376,100
• Median list price $335,000
• Average days on market for active listings: 144

19 pending sales, priced from $155,000 to $1,300,000

Based on the number of homes sold in August (8), there is a 5.9 month supply of homes for sale in Belle Chasse

Belle Chasse LA – Number of Homes Sold – August 2009

After a dip in sales in July, Belle Chasse bounced right back with 8 sales in August, bringing the year to date number of homes sold to 44.  With 19 homes under contract and a less than 6 month supply of homes for sale, Belle Chasse is one of the best performing real estate markets on the West Bank of New Orleans. 

What’s selling in Belle Chasse?

• The one property that sold for less than $200k in August was a mobile home
• Belle Chasse is bucking the trend for FHA financing.  The most popular loans used to purchase homes in the community were Conventional (3) and VA (3), which makes sense considering the proximity to NAS JRB New Orleans and the number of military families that live in the area.
• The most popular choices are 3 or 4 bedroom homes with an average of 2,095 square feet of living area.

Belle Chasse LA – Average Home Sale Price – August 2009

Year to date, the average home sale price in Belle Chasse is $261,489, down a little over 21% from the 2008 average price.  In August, sellers received an average of 96% of their original list price.  In another break from how the rest of the West Bank is performing, only 2 sellers gave any closing costs assistance to buyers.  This directly correlates to the low number of FHA loans being used in the area.

All data is provided by GSREIN and is deemed reliable, but not guaranteed

Belle Chasse LA homes for sale
Belle Chasse Real Estate Market Reports

For more information about living in Belle Chasse or relocating to NAS JRB New Orleans, please contact the West Bank Living Team.  It would be our pleasure to assist you with any of your real estate needs.

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