West Bank Living

English Turn Homes for Sale as of 7/2/2008

• 46 active listings, priced from $419,000 to $1,595,000
• 4 pending listings (offer accepted but still showing) priced from $429,000 to $485,000
• 1 open predication listing priced at $585,000
• 3 under contract listings priced from $428,900 to $649,000
• Based on June 2008 sales, there is a 9.2 month supply of homes for sale in English Turn, still above the 5-6 month supply of a balanced real estate market but significantly lower than the almost 2 year supply projected last month.

English Turn Home Sales - July 2007 through June 2008

English Turn Average Home Sales Price - July 2007 through June 2008

• The average English Turn home sale price for June 2008 was $742,500, up from $611,000 in May.  This increase is almost completely related to a $1.2 million home sale in June.  The pending and under contract listings continue to show that the highest level of buyer interest remains in the under $500,000 price range.
• The average days on market for English Turn homes sold in June 2008 was 213 days.

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

Related Reading:

English Turn- June 2008 Real Estate Absorption Rates

English Turn - Monthly Real Estate Market Reports

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.

Here is a quick look at the current real estate market in English Turn.

• 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 shortage of homes priced under $400,000 in English Turn, presenting a great selling opportunity for long time owners with equity in their homes.
• With a 17.8 month supply of homes for sale in the community, owners in English Turn should be prepared for an extended marketing time when selling their home - no short term listings should even be considered at this point.

Real Estate Absorption Rates for English Turn 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 English Turn, 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 in English Turn Subdivision

New Orleans, LA

• 47 homes for sale as of 6/2/2008
• 9 homes are pending sale or under contract, priced from $428,900 to $1,300,00 (compared to 7 at this time last month)
• 2 homes sold in May 2008, compared to 3 sold in April 2008
• Based on current sales, there is an almost 2 year supply of homes for sale in English Turn at this time

• The average home sale price in English Turn for May 2008 was $611,000, up from $481,667 in April 2008
• The average listing price on homes for sale in English Turn is $638,610
• The average days on market for homes sold in May 2008 was 40, compared to 182 in April.  It is important to note that with the small number of sales, averages can change dramatically from month to month dependant upon the individual properties sold.

With several new homes entering the real estate market in English Turn, the competition just got tougher for everyone in the community.  Working with an experienced West Bank REALTOR® to assist you in staging, preparing and properly pricing your English Turn home is more critical than ever.  For a detailed market analysis of your West Bank home, contact Lisa Heindel.

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.

The overall supply of homes for sale in English Turn has increased from the 18.7 months observed in April to the current 21.5 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.

English Turn continues to suffer from lagging home sales in every price range and continues to have over a one and a half year supply of homes for sale across the community.  The number of homes listed for sale has remained steady with the same number of listings that we saw at this time last month. 

With so much competition for buyers in the area, sellers are being forced to become more flexible in both price and terms when selling their English Turn home.  As shown in the chart below, homes under $400,000 are in demand, but there are not any currently listed homes in that price range. 

The over $500,000 price range has always been a harder sell on the West Bank, but with over 40 competing homes for sale in English Turn, now is the time to be sure that your marketing plan is reaching the largest number of potential buyers and that your home is staged and ready to sell.  Amazingly enough, 35% of the homes for sale in English Turn have no virtual tour or less than the maximum number of photos allowed in the Multiple Listing Service. 

English Turn Subdivision

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

If you would like a custom market report for your home, please contact Lisa Heindel, REALTOR®.  I’d be happy to help keep you up to date with your piece of the English Turn real estate market.

Related Reading:

Algiers, LA 70131: May 2008 Real Estate Absorption Report

English Turn: April 2008 Home Sales and Real Estate Market Report

Make Your Home the Star of the Neighborhood - Stage It!

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.

Of the 5 English Turn homes under contract at the end of March, 3 resulted in a successful closing in April.  In 2007, May was the month with the highest number of homes sales in English Turn and the 7 pending contracts so far this month indicate that this May could show the same results. 

Take a look at the current English Turn real estate market:

• Active listings:  41
• Average list price:  $669,889
• Pending but continue to show listings:  1  (list price $519,900)
• Under contract listings:  6  (average list price $647,317)
• At the current sales rate, there is a 13.7 month supply of homes for sale

English Turn - Number of Home Sales in April 2008

English Turn - Average Home Sale Prices in April 2008

The average English Turn home sale price in April was $481,667.  This reduced average can be attributed to a couple of homes sold that were in need of remodeling and updating - not your average English Turn homes which is proven by the average list price of the homes currently under contract.

The over $700,000 portion of the market remains slow and sellers at this price point will need to continue to be patient while waiting for that just right buyer.

Are you considering selling your English Turn home?  Please contact me or give me a call direct at (504) 616-6262.  I’d be happy to explain my virtual marketing plan for your home.

Related Reading:

Algiers, LA: April 2008 Real Estate Market Absorption Rates

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.

Copyright 2008.  Lisa Heindel, All rights reserved.