West Bank Living

Gretna LA Homes for Sale as of 7/2/2008

• 50 active listings, priced from $37,000 to $310,000
• 3 pending (offer accepted but still showing) listings, priced from $116,500 to $225,000
• 1 open predication listing, priced at $119,900
• 11 under contract listings, priced from $35,000 to $275,000
• Based on June sales, there is a 5.5 month supply of homes for sale in Gretna, continuing last months showing of a balanced market in the area.  Remember, this number changes based on the number of homes on the market vs the number selling each month.

City of Gretna, LA Home Sales - January 2008 through June 2008

• 9 homes were sold in Gretna in June 2008
• After a slow start in April, the second quarter home sales for Gretna finished just under the first quarter sales (13 vs 14)
• Given the number of currently pending sales, I expect that the July results will continue this trend

Gretna LA Homes Sales - 2nd Quarter 2007 through 2nd Quarter 2008

Gretna LA Average Home Sale Prices - January 2008 through June 2008

• The average home sale price in Gretna for June 2008 was $116,309, down from $147,515 in May 2008
• Year to date (2008) the average home sale price in Gretna is $142,405
• The current average listing price in Gretna is $173,162.  Properly priced homes in Gretna are continuing to sell.  Home owners should be sure that they are keeping current with the market so they can remain competitive with the other listings in both price and condition.

For a detailed market analysis of your Gretna home, please contact Lisa Heindel, your West Bank real estate specialist.

Related Reading:

Gretna, LA 70053- June 2008 Real Estate Absorption Rates

Gretna, LA 70053 - Historic Real Estate Market Reports

Choosing a Tech Savvy REALTORR to Sell Your West Bank Home

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

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.

Here is a quick look at the current real estate market in the City of Gretna.

• 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 oversupply of homes for sale in Gretna priced between $120,000 and $160,000, presenting a great opportunity for home buyers interested in living in the city limits.  With easy access to the Gretna Courthouse and other parish government buildings, living in the City of Gretna is a great gas saver for employees.
• The overall 9.2 month supply of homes for sale in Gretna is down from May’s 11 month supply.

Real Estate Absorption Rates for Gretna 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 Gretna, 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!

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

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.

May 2008 Home Sales for the City of Gretna (70053)

• 50 homes for sale as of 6/2/2008, priced from $35,000 to $310,000
• 17 homes are pending sale or under contract, priced from $59,000 to $275,000
• 10 homes were sold during the month of May 2008.  Based on this sales rate, there is a 5 month supply of homes for sale in the City of Gretna (a balanced real estate market).  This is a dramatic change from the single sale recorded in April 2008.

• The average home sale price in Gretna for May 2008 was $147,515, up from $109,00 in April
• The year to date average home sale price in Gretna is $147,624
• The average home list price in Gretna is $174,272
• The average days on market for homes sold in May 2008 was 101

Finally, closings have started to happen in the City of Gretna.  Looks like those pending sale were just taking awhile to get to the closing table, which is not unusual with so many more purchasers using FHA financing.  If you are interested in selling your Gretna home, be sure to talk to an experienced West Bank REALTOR® about how to properly price and prepare your home for sale.  For more information about selling your West Bank home, contact Lisa Heindel.

Related Reading:

5 Steps to Choosing Your New Orleans West Bank Real Estate Agent

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

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.

Here is the mid-month review of real estate absorption rates in the City of Gretna.

Gretna, LA  70053

The overall supply of homes for sale in the City of Gretna has increased from the 9.8 months observed in April to the current 11.13 month supply.  Keep in mind that a balanced real estate market has a 5-6 month supply of homes for sale…more than that indicates a buyers market for the area.

Homes priced in the $100,000-$120,000 range are still selling well.  The fact that there are homes still on the market for less than $100,000 is generally an indicator of their condition.  Investors are willing to buy properties in even the poorest condition, but the price must be right.  Don’t expect market values for a home that will only appeal to this segment of the buying population.

Working with some buyers lately, I know that several of these homes are overpriced based on recent, comparable sales.  A buyer’s market is not the time to "test the waters" with your home.  If you need to sell, your home needs to be properly prepared and priced from the moment it hits the market or you’ll be lost in the crowd of other overpriced homes for sale.

Data provided by Latter & Blum REALTORS® and is deemed reliable, but not guaranteed.

Remember, this report is for the entire City of Gretna (zip code 70053).  If you would like a personalized report for your home and neighborhood, please contact Lisa Heindel, REALTOR®.  I’d be happy to help keep you up to date with your piece of the Gretna real estate market.

Related Reading:

City of Gretna, LA: 70053 April 2008 Home Sales and Real Estate Market Report

5 Steps to Choosing Your New Orleans West Bank Real Estate Agent

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

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.

What the heck is happening in Gretna?  Of the 12 sales pending at the beginning of April, only 1 made it to a successful close.  Most of the cancellations that I have seen lately are due to either issues that cannot be resolved after inspections or difficulty in obtaining financing for purchasers. 

Take a look at the current Gretna real estate market:

• Active listings:  52
• Average list price:  $169,583
• Pending but continue to show listings:  3  (Average list price $130,967)
• Open prediction listings:  1 ($210,000)
• Under contract listings:  18  (Average list price $136,668)

Gretna, LA - Homes Sold in April 2008

The single sale recorded in the City of Gretna in April was the lowest sales rate in 5 years.  The bright side is that there are 22 sales pending closing, so I believe that the low sales rate may just be a matter of the timing of closings.  I have noticed that it is taking longer to get to closing and no longer can sellers count on 30 days from contract to close - it is edging up closer to the 45-60 day time frame.  Much of this change can be attributed to the increase in FHA sales and the additional documentation required to close them.

Gretna, LA - Average Home Prices, April 2008

The average home sale price for Gretna, LA in April was $109,000.  This is truly not a significant number due to the fact that it was only 1 sale.  Homes currently under contract are averaging in the mid $130s, which is slightly below the average for 2008, but on par with sales prices from the end of 2007.

Please note that this report is for the entire 70053 zip code.  If you would like a detailed report for your Gretna neighborhood, please feel free to contact me or call me direct at (504) 616-6262.  I’d be happy to help you keep up with the changing West Bank real estate market and how it impacts your homes value.

Related Reading:

City of Gretna, LA: April 2008 Absorption Rates

5 Steps to Choosing Your New Orleans West Bank Real Estate Agent

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

Copyright 2008.  Lisa Heindel, All rights reserved.