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

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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
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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.

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53 homes for sale

• High list price $287,100
• Low list price $24,900
• Average list price $148,388
• Median list price $135,000

15 homes are under contract or pending sale, with an average list price of $142,841

Based on the number of homes sold in September 2009 (9), there is a 5.9 month supply of homes for sale in Gretna (a balanced real estate market).

Gretna LA 70053 | Number of Homes Sold | September 2009

Year to date, Gretna has seen 54 successful home sales, compared to 59 at the same time last year.  Not bad, when the majority of the West Bank has seen the number of sales drop substantially from 2008 to 2009.

The average Gretna home sold in September had 3 bedrooms, 2 baths, 1373 square feet of living area and was on the market for 46 days.  Homes priced right and in the best possible condition can still sell quickly!

The best news for Gretna is that the supply and demand of homes is in balance at this time.  That could change quickly if a large number of homes come on the market for sale, but for now it’s one of the most stable markets on the West Bank of New Orleans.

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Gretna LA 70053 | Average Home Sale Prices | September 2009

While the number of Gretna homes sold is holding fairly steady, the average sale price has dropped by 7% from 2008.  This is still not nearly as dramatic of a decrease as some other communities on the West Bank have experienced.  The first time home buyer tax credit is about to expire, so it will be interesting to see if the average prices increase or decrease when that option is no longer available. 

Home Buying Tips

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

Gretna LA homes for Sale

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.  It would be our pleasure to assist you with any of your West Bank real estate needs.

61 homes for sale

• High list price $280,000
• Low list price $42,000
• Average list price $147,847
• Median list price $139,000

14 homes are pending sale, priced from $52,000 to $287,100

Based on the number of homes sold in August (3), there is a 20 month supply of homes for sale in the area

Gretna LA 70053 | Number of Homes Sold | August 2009

With 3 sales closed in August, Gretna has had a total of 45 homes sold in 2009.  How does this compare to 2008?  August 2008 had 9 sales and at this time last year there were a total of 56 homes sold year to date.  This is a decrease of over 19% in the number of sales.

Gretna LA 70053 | Average Home Sale Price | August 2009

The average home sale price dropped significantly from July to August, but most of that drop is caused by the sale of a home in poor condition for only $20,000.  Year to date, the average home sale price is $134,410, down 7.7% from the 2008 average.

What sold in Gretna?

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

Are you considering buying or selling a home in Gretna LA?  You might also be interested in this information:

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61 homes for sale

• High list price $280,000
• Low list price $42,000
• Median list price $135,000
• Average list price $151,530

12 pending sales, priced from $49,900 to $287,100

Based on the number of homes sold in July 2009 (4), there is a 15.25 month supply of homes for sale in Gretna

Gretna LA 70053 | Number of Home Sales | July 2009

There was a pretty dramatic drop off in the number of homes sold in Gretna in July when compared to June. However, if you average out the the number of sales made each month, then we are on track to hopefully match the 2008 sales if they continue at the same pace (6 per month).   

Gretna LA 70053 | Average Home Sale Price | July 2009

Average sale prices continue to jump around from month to month, with a few wild swings thrown in in February and July.  Year to date, however, the average sale price of $136,201 indicates a decline in prices of about 6.5%.  This average is the lowest Gretna has seen in the last 5 years.

What can home sellers do?

The time for buyers to take advantage of the $8,000 first time home buyer tax credit is running short.  Most of these buyers have money for their down payment and inspections, but haven’t saved enough to cover their closing costs.  Been on the market for awhile?  Sellers who are in a price range that appeals to first time home buyers should seriously consider advertising an offer to assist with closing costs. 

Does this mean that you have to give your house away?  Not at all.  But when your neighbors who are selling are offering this type of incentive, you are at a distinct disadvantage if you are not doing the same.  Of the 42 homes sold so far this year in Gretna, 15 (36%) of the sellers provided an average of $3,180 in assistance to the buyers.

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

Related Reading:
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West Bank real estate market reports
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Questions about the Gretna LA real estate market?  Contact the West Bank Living Team for answers.  As residents of the West Bank, it would be our pleasure to assist you with your real estate needs.

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63 homes for sale

• High list price $289,000
• Low list price $24,900
• Average list price $153,425
• Median list price $139,900

9 pending sales, priced from $104,900 to $329,000

Based on the number of homes sold in June (12), there is a 5.25 month supply of homes for sale in Gretna

Gretna LA 70053 – Number of Homes Sold – June 2009

Well, look at that….the City of Gretna is actually showing signs of stabilization in the real estate market with an almost perfect balance of supply and demand.  Sales shot up in June, but that’s pretty much the norm for this time of year and we are tracking almost dead even with the number of sales at this same time last year (37 in 2009 vs 38 in 2008).  That’s not something that every area of the West Bank can claim, so sellers in the community can take heart that the odds, while maybe not exactly in their favor, are definitely not against them.

FHA continues to be the financing option chosen by the majority of buyers in Gretna, and more than 80% of them received an average of $3,121 in closing cost assistance from the sellers.

Gretna LA 70053 – Average Home Sale Price – June 2009

The average selling price has been holding steady for the last 90 days, bringing the year to date number to $132,315, down 9% from the 2008 average and the lowest we’ve seen in the last 5 years.

What sold in Gretna?

• 2 homes in FAIR condition, for an average price of $51,450
• 3 homes in AVERAGE condition, for an average price of $110,885
• 4 homes in VERY GOOD condition, for an average price of $168,475
• 3 homes in EXCELLENT condition, for an average price of $131,166

It seems counter-intuitive that homes in Very Good condition would sell for a higher price than those in excellent condition, but the only 2 sales of homes for more than $200,000 were in this category.

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

Related Reading:
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Do you have questions about the Gretna real estate market? Are you considering buying or selling a home? The West Bank Living Team provides local, professional real estate services to home buyers and sellers on the West Bank of New Orleans and military personnel relocating to and from NAS JRB New Orleans. It would be our pleasure to assist you with all of your real estate needs.

51 homes for sale

• High list price $289,000
• Low list price $35,000
• Average list price $156,954
• Median list price $149,000

16 pending sales, priced from $50,520 to $329,000

Based on the number of homes sold in May (4), there is over a year’s supply of homes for sale in the city limits of Gretna

Gretna LA 70053 – Number of Homes Sold – May 2009

Year to date, there have been 24 homes sold in the City of Gretna, compared to 28 at the same time last year.  I’m very surprised to see the number drop off in May, which is historically an active month for home sales on the West Bank.  The saving grace is the number of pending sales (16) although typically only a percentage of those will actually make it to a successful closing.

What sold in Gretna?

Gretna LA 70053 – Average Home Sale Price – May 2009

The average home sale price in Gretna keeps jumping around from month to month due to the diversity of the homes available in the area.  Year to date, the average price is $139,167, the lowest in the last 5 years and significantly below the current average and median list prices.

What does this mean to sellers?

A years supply of inventory puts the city squarely in a buyer’s market.  But, that does not mean that buyers are going to get a home for pennies on the dollar.  Despite the peaks and valleys, Gretna real estate has held steady value over the last few years while other West Bank communities haven’t been so lucky. 

Home sellers still need to price their home competitively, have it in the best possible condition and make it easy to show.  Get this week’s Gretna real estate market snapshot.

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

Related Reading:

• Gretna LA homes for Sale
• All City of Gretna Real Estate Market Reports

Are you considering buying or selling a home in Gretna? The West Bank Living Team provides local, professional real estate services to buyers, sellers and military personnel relocating to and from NAS JRB New Orleans. It would be our pleasure to assist you with all of your real estate needs.