Harvey LA 70058 | 2009 Real Estate Year in Review
January 11, 2010 by Lisa Heindel
Filed under Harvey, Market Updates
Current real estate activity in Harvey:
156 homes are for sale in the 70058 zip code
- High list price $549,000
- Low list price $500
- Average list price $173,337
- Median list price $147,450
40 homes are under contract or pending sale, priced from $54,500 to $379,000
Based on December sales (16), there is a 9.75 month supply of homes for sale in Harvey
Harvey LA 70058 | Number of Homes Sold | December 2009
Sales dropped off again in December, bringing the total number of Harvey LA homes sold in 2009 to 220. This is a decline of 14.4% from 2008 sales in the area.
How does Harvey compare to the rest of the West Bank?
| Harvey 70058 | West Bank | |
| Active listings | 156 | 1,132 |
| Average list price | $173,337 | $192,467 |
| Average days on market (actives) | 112 | 141 |
| Homes sold in 2008 | 220 | 1,429 |
| Average days on market (solds) | 81 | 141 |
The average days on market for homes sold in rose again in 2009, ending the year at 81. Remember, this is just an average. The Harvey home on the market the longest in 2009 sold in 208 days, while the fastest sale was in only 1 day.
Harvey LA 70058 | Average Home Sale Prices | December 2009
Here is the good news: the decrease in the number of sales is offset by one of the only price increases on the West Bank. The average Harvey home sale price went up by 6.5% from 2008 to 2009 – the largest increase of any of the West Bank communities from Algiers to Avondale.
Reflecting it’s position as one of the most popular areas on the West Bank, home sale prices in Harvey continue to run higher than the West Bank average, and it looks like the average seller is pricing accordingly. In order to be competitive in today’s real estate market, your homes listing price depends on how your particular neighborhood is performing. Find out what’s going on in your West Bank neighborhood with this week’s free market snapshot.
| Harvey | West Bank | |
| 2009 Average sale price | $164,359 | $156,546 |
| Average listing price | $173,337 | $192,467 |
Other items of note:
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FHA continues to be the most popular financing choice in Harvey, with conventional financing coming in a distant second.
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42% of sellers provided some type of closing cost assistance to the buyers – that’s a significant number of sellers offering concessions to get their homes sold. Be sure that your agent has provided you with the details of home sales in your neighborhood to know the whole story when setting your selling price.
All data is provided by GSREIN and is deemed reliable, but not guaranteed
Related Reading:
- Harvey LA homes for sale
- New Orleans West Bank homes for sale
- Home buying tips
- Home selling tips
- West Bank Real Estate Market Reports
For more information about home buying or selling in Harvey Louisiana or relocating 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!
Harvey LA 70058 | November 2009 Home Sales and Real Estate Market Reports
December 29, 2009 by Lisa Heindel
Filed under Harvey, Market Updates
Current real estate activity in Harvey LA:
156 homes are for sale
- High list price $549,000
- Low list price $500**
- Average list price $174,018
- Median list price $148,750
**The property listed for $500 is a HUD property with other existing liens that would have to be cleared to obtain a clear title to the property
42 homes are under contract or pending sale, priced from $54,500 to $389,000
Based on the November sales (19), there is a 8.2 month supply of homes for sale in Harvey
Harvey LA | Number of Homes Sold | November 2009
After a big spike in October, home sales in Harvey dropped to 19 homes sold in November, bringing the year to date total to 202. Compared to 238 at the same time last year, this is a decrease of just over 15% in the number of homes being sold in the area.
Harvey LA | Average Home Sale Prices | November 2009
While the number of sales may be down, Harvey is recording the largest increase in prices on the West Bank. The average home sale price of $164,267 is an increase of 6.5% over the 2008 average and even surpasses the 2005 average, which was our last really “normal” real estate market in the metro area.
Not every neighborhood has seen an increase in value, but this month’s spot to watch is Spanish Oaks, where we’ve seen surprisingly higher than normal prices in some recent sales.
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
Harvey LA Homes for Sale
New Orleans West Bank Homes for Sale
Home buying tips
Home selling tips
For professional assistance with any of your West Bank real estate needs, please contact the West Bank Living Team. It would be our pleasure to assist you.
Harvey LA 70058 | October 2009 Home Sales and Real Estate Market Reports
November 23, 2009 by Lisa Heindel
Filed under Harvey, Market Updates
Current real estate activity in Harvey LA:
164 homes for sale
- High list price $549,000
- Low list price $500
- Average list price $182,181
- Median list price $154,950
58 homes are under contract or pending sale, priced from $49,700 to $525,000
Based on the number of homes sold in October (35), there is a 4.69 month supply of homes for sale in the area.
Harvey LA 70058 | Number of Homes Sold | October 2009
Look at the jump in closed sales for Harvey! While I don’t know the details on every single transaction, I would project that the large increase was due to the expected expiration on November 30th of the tax credit for first time home buyers that has been extended and expanded.
Update to 2009 First Time Home Buyer Tax Credit
Should sales continue at the same pace (which is possible given the 58 pending sales), Harvey would be the shining star of West Bank real estate and the only seller’s market in the area, despite the fact that the number of sales is down almost 17% from the same time last year.
Harvey LA 70058 | Average Home Sale Price | October 2009
The average home sale price in Harvey for October was $158,129, bringing the year to date average to $163,373, UP 5.9% from the 2008 average and the only increase in home values that we are seeing on the West Bank of New Orleans.
While this is good news, it’s important to remember that if you purchased your home during 2005-2007 you may only be at a break even point or experiencing a loss of equity. Before deciding to sell, it’s important to know what’s going on in your neighborhood. Get this week’s free Harvey LA market snapshot
All data is provided by GSREIN and is deemed reliable, but not guaranteed
Related Information:
Harvey LA Homes for Sale
New Orleans West Bank Homes for Sale
Harvey LA Real Estate Market Reports
Home Buying Tips
Home Selling Tips
If you have questions about the Harvey LA real estate market or need information about buying or selling a home, please contact the West Bank Living Team. It would be our pleasure to assist you with any of your real estate needs.
Harvey LA 70058 | September 2009 Home Sales and Real Estate Market Reports
October 19, 2009 by Lisa Heindel
Filed under Harvey, Market Updates
Current real estate activity in Harvey LA 70058:
157 homes for sale
- High list price $585,000
- Low list price $20,000
- Average list price $180,021
- Median list price $155,000
70 homes are under contract or pending sale, with an average list price of $152,624
Based on the number of homes sold in September (16), there is a 9.8 month supply of homes for sale in the area.
Harvey LA 70058 | Number of Homes Sold | September 2009
Harvey has seen 147 homes sold through September 2009, compared to 200 at the same time last year (a decrease of 26.5%). Like most other areas, the majority of Harvey home buyers are using FHA financing. These loans require the lowest down payment possible (3.5%) and appeal to the first time home buyers who are trying to get closed before the tax credit expires at the end of November.
Of note is the fact that 44% of the September buyers received an average of $2,756 in assistance from the seller with their closing costs and prepaids. If you are considering selling your Harvey home, be sure that the agents you talk to can provide you with adjusted sales prices to take any of this assistance into account when determining an acceptable sales price.
Harvey LA 70058 | Average Home Sale Price | September 2009
While the average sale price dropped from August to September, the year to date average is still almost 7% higher than in 2008 – a rare occurrence of increasing prices in today’s market! Remember, though, that this average does not take into account any seller paid assistance or allowances provided to the buyers at closing and your agent should be able to provide details such as this for sales in your neighborhood.
All data provided by GSREIN and is deemed reliable, but not guaranteed
Related reading:
Harvey LA homes for sale
Harvey LA Real Estate Market Reports
Home Buying Tips
Home Selling Tips
Find out what’s going on in your West Bank neighborhood with this week’s free market snapshot
Questions? Feel free to contact the West Bank Living Team for any of your real estate needs. It would be our pleasure to assist you.
Harvey LA 70058 | August 2009 Home Sales and Real Estate Market Reports
September 24, 2009 by Lisa Heindel
Filed under Harvey, Market Updates
Current real estate activity in Harvey LA:
169 homes for sale
- High list price $599,900
- Low list price $34,900
- Average list price $201,052
- Median list price $163,000
72 homes are under contract/pending sale, priced from $69,900 to $346,900
Based on the number of homes sold in August (13), there is a 13 month supply of homes for sale in Harvey
Harvey LA 70058 | Number of Homes Sold | August 2009
Harvey ended the month of August 2009 with 13 homes sold, down from 23 in August of 2008. Year to date, there have been a total of 131 successful sales or an average of 16.38 homes per month. If this trend continues, we can expect to see another 65 or so homes sell by year end.
While the number of sales continues to decline from year to year, the bright spot in the Harvey real estate market is the increase in average home sale prices (see below).
Harvey LA 70058 | Average Home Sale Price | August 2009
Good news!
Home prices in Harvey have continued to climb from month to month in 2009, ending August with a year to date average of $167,762 – an increase of 8.7% from 2008. Harvey is one of the only local areas that has experienced an increase in home prices.
How did your neighborhood do? Find out what’s going on in your West Bank neighborhood with a free Market Snapshot of listings and sales in your area.
All data is provided by GSREIN and is deemed reliable, but not guaranteed.
Are you interested in buying or selling a home in Harvey LA? These links provide more information about the local real estate market, along with buying and selling tips:
Search all Harvey homes for sale
Harvey LA Real Estate Market Reports
Home Buying Tips
Home Selling Tips
For assistance with any of your New Orleans West Bank real estate needs, contact the West Bank Living Team. It would be our pleasure to help!
