English Turn | January 2010 Home Sales and Real Estate Market Reports

Current real estate activity in English Turn (New Orleans, LA):

30 single family homes for sale

• High list price $1,799,000
• Low list price $399,000
• Average list price $704,067
• Median list price $549,000

2 homes are under contract or pending sale, priced from $469,000 to $499,000

Based on January sales (2), there is a 15 month supply of homes for sale in Belle Chasse

English Turn | Number of Home Sales | January 2010

English Turn started the year with 2 homes sold in January, surpassing January sales in both 2009 and 2008.

The few bank owned properties in English Turn have sold, so now the rest of the inventory is starting to be cleared. As a result, I anticipate days on market will rise (see the sharp uptick in January) as homes that have been on the market for an extended period of time are sold.

English Turn | Average Home Sale Prices | January 2010

The January average sale price in English Turn was $508,500, up from the 2009 average of $492,938.  As we move further into the year, we will have a better handle on whether this is a blip or a trend in the market.

Because of the price range of these luxury homes, conventional financing was used for both purchases.  Sellers did not provide any closing cost assistance to the buyers, but 1 seller did provide a home warranty for the purchaser.

Related Articles:

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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!

English Turn | 2009 Real Estate Year in Review

Current real estate activity in the English Turn subdivision in New Orleans, LA:

The are 30 homes for sale in English Turn

• High list price $1,995,000
• Low list price $400,000
• Average list price $682,897
• Median list price $549,000

3 homes are under contract or pending sale, priced from $395,000 to $599,000

Based on the number of homes sold in December (2), there is a 15 month supply of homes for sale in the English Turn subdivision

English Turn | Number of Homes Sold | December 2009

English Turn ended 2009 with the exact same number of homes sold as in 2008.  While home sales are substantially below the 2005-2007 period, it’s encouraging to see some stabilization in the one of the high end West Bank real estate markets.

How long is it taking to sell English Turn homes?

The days on market for English Turn has taken a dramatic increase in the last couple of years.  Remember, this is (1) only an average and (2) only for homes that have actually sold.  Some homes in the area have been on the market for an extended period of time without selling yet.

• The longest time for an English Turn home to sell in 2009 was in 776 days.
• The fastest sale time for an English Turn home to sell in 2009 was in 1 day.

English Turn | Average Home Sale Prices | December 2009

Home prices in English Turn have been all over the board this year, with the lower end of the luxury price range selling at a much better rate.  This has resulted in a massive drop in average sale prices in the neighborhood, ending 2009 at $492,938.

• The most expensive home sold in 2009 in English Turn was a 6 bedroom, 6.5 bath home with over 8,000 square feet of living area that sold in October, 2009 for $950,000
• The least expensive home sold in 2009 in English Turn was a 3 bedroom, 3.5 bath bank owned home that sold in June, 2009 for $320,000

Because English Turn is outside of the FHA loan limits for financing in the New Orleans area, conventional financing rules, accounting for 73% of the 2009 sales.  Only 2 sellers provided any closing cost assistance to buyers in the area, both on homes that sold for less than $425,000.

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

Related Articles:

Home buying tips
Home selling tips

West Bank Market Statistics

 

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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!

English Turn | November 2009 Home Sales and Real Estate Market Reports

Current real estate activity in the English Turn subdivision in Algiers LA:

29 homes are for sale in English Turn

• High list price $1,995,000
• Low list price $425,000
• Average list price $700,126
• Median list price $565,766

5 homes are under contract or pending sale, priced from $395,000 to $522,000

Based on the number of homes sold in November (2), there is a 14.5 month supply of homes for sale in the area

English Turn | Number of Homes Sold | November 2009

English Turn continued the up and down cycle of homes sales into November, bringing the year to date number of homes sold to 24.  With 5 homes pending sale, I would project that we will match the number of sales made in 2008.

This is actually pretty good news.  While the number of sales is down substantially from pre and post Katrina, at least the market in the neighborhood seems to be balancing out at about 25 sales per year….good information for a seller to have when they are determining when (or whether) to put their house on the market.

While there is the occasional quick sale, and the higher end is taking longer, the average English Turn home was on the market for 216 days before selling. That number will change from month to month depending on what’s sold and is subject to some wild swings if a long time listing finds a buyer.

English Turn | Average Sales Price | November 2009

The average home sale price in English Turn dipped again in November, pulling the year to date average down to $497,475, a decrease of over 15.7% from the 2008 average, and marking the lowest prices we have seen in English Turn over the last 5 years.

That does not mean that there are no higher end homes selling, because there are, but the prices of entry level properties in the community have dropped, impacting the average substantially since there are more entry level than luxury homes selling.

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

You may also be interested in:

Algiers LA homes for sale
New Orleans West Bank homes for sale

Home buying tips
Home selling tips

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For professional real estate services on the West Bank of New Orleans, please contact the West Bank Living Team.  Dedicated buyer and seller agents are waiting to assist you with any of your real estate needs.

English Turn | October 2009 Home Sales and Real Estate Market Reports

Current real estate activity in the English Turn subdivision of Algiers LA:

32 homes are for sale in English Turn

• High list price $1,995,000
• Low list price $395,000
• Average list price $678,421
• Median list price $549,000

5 homes are pending sale or under contract, priced from $395,000 to $522,000

Based on the number of homes sold in October (4), there is an 8 month supply of homes for sale in the area

English Turn | Number of Homes Sold | October 2009

October looked like spring in English Turn, recording 4 sales for only the second time this year.  Year to date, there have been 22 homes sold, an average of 2.2 homes per month.  This puts English Turn on track to perform at about the same rate of sales as last year. 

Is it the bottom?  Only time will tell, as the community is in the slowest sales period over the last 5 years.  Overall, sales on the West Bank of New Orleans seem to be stabilizing in most, but not all, communities. 

English Turn | Average Home Sale Price | October 2009

The year to date average home sale price in English Turn is now at $501,564, down 15% from the 2008 average.  List prices, however, continue to track along the 2005 average, indicating that some sellers are in for either a long marketing period (for the extreme high end) or disappointment (for those that are just overpriced for their homes condition).

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.

Related information:

Algiers Homes for Sale
New Orleans West Bank Homes for Sale

Home Buying Tips
Home Selling Tips

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If you are considering buying or selling a home on the West Bank of New Orleans, please contact the West Bank Living Team.  We have specialists in home sales/marketing and buyer representation ready to assist you with any of your real estate needs.

English Turn | September 2009 Home Sales and Real Estate Market Reports

Current real estate activity in English Turn:

42 homes are for sale in English Turn

• High list price $1,995,000
• Low list price $395,000
• Average list price $688,392
• Median list price $557,383

3 homes are under contract or pending sale, with an average list price of $474,667

Based on the number of homes sold in September (1), there is a 42 month supply of homes for sale in the community

English Turn | Number of Homes Sold | September 2009

Year to date, there have been 18 home sales in English Turn, compared to 21 at the same time last year. 

3 of this years sales have been foreclosure or bank owned properties, which are selling for about $110 per square foot compared to $132 per square foot for normal resale homes in English Turn.

English Turn | Average Home Sale Prices | September 2009

Average home sale prices in English Turn are down to $507,378 as of the end of September 2009.  This is a decrease of 14% in the average sale price when compared to 2008.

My initial thought was that with so few sales, the handful of foreclosures were impacting the average prices.  But removing those from the mix resulted in an average of $507,607 – a negligible change not even worth noting.

 

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

Related information:

Algiers LA homes for sale
New Orleans West Bank Homes for Sale

Home Selling Tips
Home Buying Tips

Are you considering buying or selling a home in English Turn?  Feel free to contact the West Bank Living Team with any of your questions or just for a little advice.  It would be our pleasure to assist you with any of your real estate needs.

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