64 homes are active on the market

• High list price $325,000
• Low list price $36,000
• Average list price $145,044
• Median list price $132,000

8 homes are under contract/pending sale, priced from $37,500 to $195,000

Based on the number of July sales (4), there is a 16 month supply of homes for sale in Gretna

City of Gretna | Number of Homes Sold | July 2010

The number of home sales dropped again from June to July, but Gretna is still right on track with 2009 sales. There have been 44 homes sold as of 7/31/2009 and there were 45 sold at the same time last year.  My concern is whether this drop will become a trend.  The recent news of the Avondale closing, combined with the impact of the oil spill, could have a negative impact on home sales and values on the West Bank of New Orleans.

We have seen an increase in the number of rental inquiries vs the number of inquiries from potential buyers.  Part of that is the typical back to school slow down associated with this time of year, but much of it has to do with tightened credit restrictions that are reducing the number of qualified home buyers.

Average days on market continues to climb in Gretna, ending July at 111 days for the average home to sell.

City of Gretna | Average Home Prices | July 2010

Prices have jumped all over the place when you view them month to month, but that is to be expected.  Year to date, the average home sale price in Gretna is $128,355 – a decrease of 7.6% from the 2009 average.

More about July 2010 home sales in Gretna LA 70053:

• 75% of sellers provided a home warranty for the buyers
• 50% of sellers paid closing cost assistance for the purchasers
• No bank owned or foreclosed properties were sold (only 3 of the currently available listings in Gretna are foreclosures)

53 single family homes are actively listed for sale

• High list price $325,000
• Low list price $36,000
• Average list price $143,840
• Median list price $127,500

11 homes are under contract or pending sale, priced from $37,500 to $255,000

Based on the number of June sales (8), there is a 6.6 month supply of homes for sale in Gretna

Now that we are at mid year, I decided to take a bit of a different look at home listings and sales on the West Bank and break the activity down by price range.

DOM = Days on Market

Overall, the single family housing market is holding steady in Gretna.  The drop that I am most concerned about is in the $180,000 and over price range, with 30% fewer sales in 2010 than at the same point in 2009.   With 12 active listings in this range, someone is going to be waiting for awhile to sell their home unless there is a rapid change in the market – something I don’t anticipate at this time.

A few more details about June 2010 home sales in Gretna

• Average days on market was 123, bringing the year to date average to 106 days
• FHA loans continue to make up the bulk of purchases, with 41% of the 2010 sales
• 50% of sellers in June provided closing cost assistance to the buyers
• 25% of sellers in June provided a home warranty for the purchasers
• 25% of homes sold in June were bank owned/foreclosure properties

If you are considering selling your Gretna home, contact the West Bank Living Team for a free market evaluation of your property.  Or, find out what’s going on in your Gretna neighborhood with our online market snapshot.

58 homes are currently for sale

• High list price $409,000
• Low list price $44,900
• Average list price $151,983
• Median list price $138,250

12 homes are under contract or pending sale, priced from $37,500 to $255,000

Based on the number of sales in May, there is a 5.8 month supply of homes for sale in Gretna

Gretna LA 70053 | Number of Homes Sold | May 2010

Year to date in Gretna, there have been a total of 31 single family homes sold, compared to 26 at the same time last year.  Successful closings took a jump in May, which was to be expected with the first time buyers tax credit.  I expect that June sales will be up as well as the remainder of those sales close, but after that it’s anyone’s guess.

Days on market in May ranged from 3 to 609, with an average of 127 days.  Year to date, the average days on market for Gretna homes is 102 days.

Gretna LA 70053 | Average Single Family Home Sale Prices | May 2010

Average home prices dropped off to $127,700 in May, bringing the year to date average to $135,677.  With all of the wild swings in many West Bank real estate markets, Gretna has remained pretty steady over the last few years, with no more than $10,000 difference in the average prices over time.

Run your own report of home values in your Gretna neighborhood

More about Gretna home sales:

• 20% of the May sales were bank owned or foreclosure properties
• 30% of sellers provided some sort of closing cost assistance to the buyers
• 50% of sellers paid for a home warranty for the purchaser
• FHA remains the financing option of choice for the majority of buyers in Gretna

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

51 homes are currently for sale

• High list price $409,000
• Low list price $44,900
• Average list price $153,500
• Median list price $134,000

19 homes are under contract or pending sale, priced from $37,500 to $275,500

Based on the number of April sales (6), there is a 8.5 month supply of homes for sale in Gretna

Gretna LA 70053 | Number of Single Family Homes Sold | April 2010

Year to date, there have been 21 single family homes sold in the City of Gretna – the same number as of April 2009.  Pending sales are just slightly higher than last month, but that was to be expected due to (1) spring is a more active selling season and (2) buyers rushing to get under contract before April 30th and the end of the tax credit for first time home buyers.

Days on market for homes sold in 2010 is now at 89 days. Considering that the average active listing has been on the market for 132 days and the average under contract listing has been on the market for 167 days, look for this number to continue to go up as the year progresses.

Gretna LA 70053 | Average Single Family Home Prices | April 2010

Year to date, the average Gretna home sold for $139,475, a very slight increase from the 2009 average. It’s important to remember that the extremely low sales price average in February skews the numbers slightly.  Get this week’s free home value report for a quick snapshot of listings and sales in your West Bank neighborhood.

More details about April home sales in Gretna:

• No bank owned or foreclosed properties were sold in April (3 are currently under contract)
• 33% of home sellers provided a home warranty to the buyers
• 17% of home sellers paid some or all of the purchaser closing costs
• FHA remains the financing option chosen by the majority of Gretna home buyers

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

Related Articles:

• Home buying tips
• Home selling tips
• Gretna Homes for Sale
• West Bank Real Estate Market Statistics

For more information about home buying or selling on the West Bank of New Orleans, or relocating to or from NAS JRB New Orleans, please

50 single family homes are for sale

• High list price $409,000
• Low list price $45,000
• Average list price $155,234
• Median list price $137,450

17 homes are under contract or pending sale, priced from $37,500 to $274,000

Based on the number of homes sold in March (9), there is a 5.6 month supply of homes for sale in Gretna.

Gretna LA 70053 | Number of Homes Sold | March 2010

After a slow start to the year, home sales are picking up in the City of Gretna LA.  Since last month, the inventory has declined and the number of pending sales has increased. This is good news for home sellers and a wake up call for potential buyers that the market may be making a slight shift in the area.  How much of this change can be attributed to the first time home buyer’s tax credit that expires on April 30th will remain to be seen.

Year to date, there have been 15 single family home sales in Gretna, compared to 12 at the same time last year.  Days on market is up slightly, to 92 days.  Since the average active listing has been on the market for 147 days already, we can expect that number to rise as some of the those homes are sold.

Gretna LA 70053 | Average Single Family Home Prices | March 2010

Prices rebounded in March as well, after a dismal February where only homes in poor condition were sold.  Year to date, the average home sale price in Gretna is $132,333, a decline of 4.7% from the 2009 average.  Of course, this average is still severely impacted by February, so it will take time to be able to get a true view of average prices.  Remember that these number are for the entire zip code, and your neighborhood may be performing better or worse than the average.

Get a free home value report for your West Bank neighborhood

More about March 2010 home sales in Gretna:

• 2 homes were in Excellent condition, 5 homes were in Very Good condition and 1 home was in Fair condition.  The remaining home did not have a condition indicator.
• 1 of the homes sold was a bank owned/foreclosure property
• 22% (2) of the sellers provided a home warranty to the buyer
• 56% (5) of the sellers paid for at least a portion of the purchaser’s closing costs
• FHA continues to be the most popular financing choice of home buyers in Gretna

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

Related Articles:

• Home buying tips
• Home selling tips
• Gretna Homes for Sale
• West Bank Real Estate Market Statistics

For more information about home buying or selling on the West Bank of New Orleans, 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!

61 single family homes are for sale

• High list price $409,000
• Low list price $45,000
• Average list price $158,928
• Median list price $145,000

10 homes are under contract or pending sale, priced from $37,500 to $165,000

Based on February sales (3), there is a 20 month supply of homes for sale in Gretna

Gretna LA 70053 | Number of Homes Sold | February 2010

The 3 Gretna home sales that were recorded in February were all properties in need of major repairs, pretty much the type of listings that only attract investors with cash because the condition of the homes are so poor.  Otherwise, the city is on target with 6 sales year to date, compared to 7 at the same time last year.

Days on market dropped to 72, but again, remember that these investor properties sold faster than the typical home in the area.  It may take a couple of months for the averages to balance out and give a truer picture of the market, especially given that the average days on market for active listings is currently at 143.

Gretna LA 70053 | Average Single Family Home Sale Price | February 2010

The average sale price took a big hit in February due to the condition of the properties sold.  This should not be considered a real average for the area.  Average sale prices will balance out over the year as more owner occupant homes are sold.  If you are interested in receiving information on current listings and sales in your neighborhood, we provide free online reports of real estate activity in your West Bank neighborhood.

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57 homes are for sale in Gretna, 70053

• High list price $409,000
• Low list price $45,000
• Average list price $153,403
• Median list price $139,900

11 homes are under contract or pending sale, priced from $29,900 to $169,900

Based on the number of homes sold in January (3), there is a 19 month supply of homes for sale in the area

Gretna LA 70053 | Number of Single Family Homes Sold | January 2010

Gretna started off 2010 with a total of 3 home sales in January, compared to 4 in January 2009.  With the first time home buyer tax credit extended, I would expect that we will see an increase in buying activity once we get past Mardi Gras.

Because buyers must have a home under contract by April 30th to take advantage of the credit, there is a short window between the end of Carnival and the deadline for choosing a home.  If you are considering selling during this time, be sure that you have taken care of all of the little details in preparing your home to show and that you are priced right to attract the most attention during the marketing process.

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

Average days on market for homes sold during January was 98.  Average days on market for active listings is 147, so I would expect to see that number rise during the year as some of the older inventory is cleared out.

Gretna LA 70053 | Average Single Family Home Prices | January 2010

The average single family home sale price jumped to $191,000 in January due to a couple of sales in the Garden Park neighborhood.  Remember, there were only 3 sales, so the numbers can be greatly skewed by just one or two of them.  It will take at least until March or April before we have a good feel for the trends for this year.

FHA financing made up 2 of the 3 Gretna homes sales in January.  Because of the tightening of credit restrictions across the board, I anticipate that will continue to be the case through 2010.

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

Related Articles:

Home buying tips
Home selling tips

West Bank Real Estate Market Statistics

57 homes are for sale in the 70053 zip code

• High list price $409,000
• Low list price $29,900
• Average list price $149,500
• Median list price $139,900

8 homes are under contract or pending sale, priced from $49,900 to $255,000

Based on December sales (4), there is a 14.25 month supply of homes for sale in Gretna

Gretna LA 70053 | Number of Homes Sold | December 2009

Good news for Gretna!  The number of homes sold in the city increased from 2008 to 2009.  Granted, it’s a small increase, but not many communities can make the same claim.

In 2009, sales in Gretna made up 5.5% of the West Bank real estate market, with 78 of the 1,429 homes sold in the area. 

How Does Gretna compare to the rest of the West Bank?

The average days on market for homes sold in Gretna dropped in 2009, after taking a huge jump in 2008.  The average of 81 days is the best on the West Bank, equaled only by Harvey.  Remember, this is just an average.  The home on the market the longest in 2009 sold in 362 days – almost an entire year, while the fastest sale was in only 1 day.

Gretna LA 70053 | Average Home Sale Prices | December 2009

The good news about sales in Gretna, unfortunately, doesn’t extend to prices.  After recording one of the only increases in 2008, there was a 4.7% decline in average home prices in 2009, dropping to $138,848.

Prices in Gretna continue to be below the West Bank average, presenting a wonderful opportunity for buyers who are trying to find a home before the tax credit expires.  Sellers, depending on when you purchased your home, may not be in a good position right now.  Your homes value still 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.

Other items of note:

• FHA continues to be the most popular financing choice in Gretna, with conventional financing coming in 2nd
• 38% of seller provided some type of closing cost assistance to the buyers – tracking right along with the FHA financing choice made by buyers with smaller down payments and cash reserves

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

Related Reading:

• Gretna LA homes for sale
• New Orleans West Bank homes for sale
• Home buying tips
• Home selling tips

For more information about home buying or selling in Gretna 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!

57 homes are for sale in Gretna

• High list price $409,000
• Low list price $34,900
• Average list price $149,947
• Median list price $139,900

7 homes are pending sale or under contract, listed from $49,900 to $255,000

Based on November sales (11), there is a 5.18 month supply of homes for sale in Gretna

Gretna LA 70053 | Number of Homes Sold | November 2009

Great news for Gretna…home sales have now exceeded the number of sales in 2008, with another month of closings to go!   More good news is that the inventory of 5.18 months shows a balanced real estate market for the city that has worked so hard to improve the quality of life for its residents with community events that surpass those of most West Bank neighborhoods.

Gretna LA 70053 | Average Home Sale Prices | November 2009

The opposite end of the spectrum is the average housing price in Gretna.  It has fallen off almost 5% from the 2008 average – still not as dramatic a drop as other parts of the West Bank.  Remember, this is an average of all single family home sales in Gretna. 

Want to keep up with active listings and sales in your area?  Find out what’s going on in your West Bank neighborhood with this week’s free market snapshot.

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

Gretna LA Homes for Sale
New Orleans West Bank Homes for Sale

Home buying tips
Home selling tips

For more information about home buying or selling in the City of Gretna, 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!

51 homes are for sale

• High list price $275,500
• Low list price $42,900
• Average list price $147,731
• Median list price $131,000

12 homes are under contract or pending sale, priced from $52,000 to $240,000

Based on the number of homes sold in October (8), there is a 6.38 month supply of homes for sale in Gretna, which is just about a balanced real estate market.

Gretna LA 70053 | Number of Homes Sold | October 2009

The year to date number of homes sold in Gretna as of October 2009 is 62, compared to 65 at the same time last year.  Gretna is one of the only markets on the West Bank of New Orleans that has not had a dramatic drop in the number of home sales from 2008 to 2009.

Given the recent amount of activity in the community, I would anticipate that we will equal or exceed the number of homes sold in 2008.  While it is not a return to pre-Katrina levels, it appears that the market is balancing out supply and demand.

Gretna LA 70053 | Average Home Sale Prices | October 2009

The average price of homes sold in the City of Gretna in 2009 is now at $137,680, compared to $145,701 in 2008 (a decrease of 5.5%).  Again, this is a better performance than many other areas of the West Bank, where some neighborhoods have experienced value drops of more than 20%.

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

You may also be interested in:

Gretna LA homes for Sale
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Have a real estate question?  The West Bank Living Team has answers.  Feel free to drop us a line or give us a call.