28 homes are for sale in English Turn

• High list price $1,799,000
• Low list price $399,000
• Average list price $673,600
• Median list price $512,450

4 homes are under contract/pending sale, priced from $299,000 to $1,645,000

Based on the number of July sales (2), there is a 14 month supply of homes for sale in English Turn

English Turn | Number of Homes Sold | July 2010

After a month of non-existent sales in July, English Turn had 2 homes sold in July, bringing the year to date total up to 15 sales.  This is exactly the same number of sales that we saw for January through July of 2009, so the community is holding steady in buyer demand.

English Turn | Average Home Prices | July 2010

The year to date average price of homes sold in English Turn as of the end of July is $481,734, a slight 2.3% drop from the 2009 average. 

The number of active listings has dropped from last month, so it looks like some sellers have taken their homes off of the market.  The pricing competition will only get tougher, with a home priced at $299,000 now under contract.

Get this week’s free report of home listings and sales in English Turn

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

For more information about the real estate market on the West Bank of New Orleans, or to request a confidential analysis of your home’s value, please contact the West Bank Living Team.

57 homes are listed for sale

• High list price $1,700,000
• Low list price $64,900
• Average list price $377,740
• Median list price $325,000

7 homes are under contract/pending sale, priced from $174,500 to $334,000

Based on the number of homes sold in July (4), there is a 14.25 month supply of homes for sale in Belle Chasse

Belle Chasse LA | Number of Homes Sold | July 2010

July sales in Belle Chasse totaled 4, bringing the year to date number of homes sold in the area to 30.  This is a 17% decrease from the 36 homes sold at the same time last year.

Belle Chasse LA | Average Home Prices | July 2010

While there was a peak in April, the average home sale price in Belle Chasse this year is $261,101, a drop of 13.5% from the 2009 average.  Despite the fact that prices are down from 2009, long time home owners in Belle Chasse are still experiencing good appreciation in their properties as long as they didn’t pull all of the equity out of them during the boom.

Get a free home value report for your Belle Chasse neighborhood

More about July home sales in Belle Chasse

• 1 (25%) of the homes sold was a bank owned foreclosure
• 1 seller provided closing cost assistance to the buyer
• For the first time in 2010, we saw homes purchased with VA loans

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

For more about buying or selling a home in Belle Chasse or any other area on the West Bank of New Orleans, please contact the West Bank Living Team. 

19 single family homes are listed for sale

• High list price $389,000
• Low list price $65,000
• Average list price $262,205
• Median list price $259,000

3 homes are under contract/pending sale, priced from $123,500 to $229,000

There were no closed sales in July 2010

Algiers Point | Number of Homes Sold | July 2010

Although no single family homes were sold in July, the Point is still performing better than at this same point last year, when there were only 10 sales.

We’ve seen an increase in inquiries about listings in the area, but with less than 25 homes to choose from, many buyers are being forced to continue their search in the old Gretna or Uptown markets to find the architecture they are seeking if they don’t find a home they are happy with in the Point. 

Algiers Point | Average Home Sale Price | July 2010

Average single family home prices are still averaging higher than in 2009 and this may be one of the reasons for the hesitation by buyers.  With so much negative press about home values, buyers are admittedly nervous about taking on a mortgage in an area that has historically been losing value for the last few years.

Get this week’s free Algiers home value report

All data in these reports has been provided by GSREIN and is deemed reliable, but not guaranteed

For more information about buying or selling a home in Algiers Point or any other New Orleans neighborhood, please contact the West Bank Living team.

203 homes are listed for sale

• High list price $895,000
• Low list price $32,900
• Average list price $170,717
• Median list price $154,000

50 homes are under contract/pending sale, priced from $34,830 to $295,000

Based on the number of July sales (18), there is a 11.3 month supply of homes for sale in Algiers

Algiers LA 70131 | Number of Homes Sold | July 2010

With 18 homes sold in July and 111 year to date, Algiers is dead even in the number of sales in 2010 vs. those in 2009.  Last year saw a spike in sale in the 3rd quarter, so it will be interesting to see if the same thing happens this year.  Indicators point to yes, with 50 homes currently pending sale.

Days on market in Algiers has dropped to an average of 94, one of the only drops across the West Bank of New Orleans real estate market.

Algiers LA 70131 | Average Home Sale Prices | July 2010

Sale prices from month to month are always going to jump around, but Algiers ended July with a year to date average sold price of $148,351.  This is a decrease of 4.5% from the average sold price in 2009.

Remember, this accounts for all sales in the zip code (excluding English Turn – get those reports here) and your neighborhood may be performing differently.

Get this week’s free Algiers home value report

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

More about July home sales in Algiers 70131

• 39% of homes sold were bank owned foreclosures or short sales
• 28% of sellers provided a home warranty for the buyers
• 22% of sellers paid some type of closing cost assistance for the purchaser

Need more information about buying or selling a home on the West Bank of New Orleans? Please contact the West Bank Living Team.

111 homes are listed for sale

• High list price $399,900
• Low list price $9,499
• Average list price $130,126
• Median list price $110,000

17 homes are under contract/pending sale, priced from $30,000 to $229,000

Based on the number of July sales (5), there is a 22 month supply of homes for sale in Algiers 70114

Algiers LA 70114 | Number of Homes Sold | July 2010

Sales in the 70114 zip code dropped to 5 in July, bringing the year to date total number of homes sold to 58.  At the same time last year, there were 46 sales, so the number of properties being purchased has increased by 26%.  However, a quick look at average pricing will indicate that many of the sales were of properties in less than stellar condition or that were bank owned/foreclosures.

Algiers Point real estate market updates

Days on market remains steady in the 70114 zip code, holding at 104 days for the average home to sell.  Remember, this is an average.  The home on the market the longest was 413 days, while others sold in a day (rare, but it happens with bargain basement priced investor properties).

Algiers LA 70114 | Average Home Prices | July 2010

It looks like a precipitous drop in prices, but keep in mind that in July 80% of the homes sold were bank owned foreclosures – most of which were in need of extensive repairs and renovations to make them habitable again.

The current average sale price of $107,017 is a decrease of 9% from the 2009 average price.  In addition to the impact of foreclosures, anytime there is a decrease in sales in Algiers Point we will see a dip across the entire zip code.

Get your free Algiers home value report

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

More about July home sales in Algiers 70114

• 80% of the homes sold were bank owned or foreclosure properties
• 20% of the sellers provided closing cost assistance to the buyers
• No home were sold with a home warranty
• 60% of the homes were not financed, but instead were cash purchases (typically an indication of an investor in the lower price ranges)

159 homes are currently listed for sale

• High list price $325,000
• Low list price $19,900
• Average list price $111,421
• Median list price $99,999

36 homes are under contract/pending sale, priced from $20,000 to $179,000

Based on the number of July sales (12), there is a 13.25 month supply of homes for sale in Westwego and the surrounding communities in zip code 70094

Westwego LA 70094 | Number of Homes Sold | July 2010

After watching the number of home sales increase month by month in 2010, the 70094 zip code dipped in July, bringing the year to date number of homes sold to 78.  When compared to the 84 sold at the same time last year, we have a 7% decline in the number of successful home sales in the area.

Average days on market remain flat, ending July at 85 days for the average home to sell.  Given the recent news of the closure of Avondale, I anticipate that we will see some changes in the market and neighborhoods surrounding the shipyard.

Westwego LA 70094 | Average Home Prices | July 2010

Prices in the area continue to climb, with a year to date average home sale price of $110,969.  Don’t get too excited though, because there have been a number of higher end, newer homes sold that have impacted this average.  Your neighborhood may be performing differently.

Find out what’s going on in your Westwego, Avondale, Bridge City or Waggaman neighborhood

More about July home sales in Westwego, Avondale, Bridge City and Waggaman

• 25% of homes sold were bank owned or foreclosure properties
• 33% of sellers provided closing cost assistance to the buyers
• 50% of sellers provided a home warranty for the purchasers

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

For more information about buying or selling a home on the West Bank of New Orleans, please contact the West Bank Living Team.

275 homes are listed for sale

• High list price $1,600,000
• Low list price $20,000
• Average list price $158,833
• Median list price $139,000

51 homes are under contract/pending sale, priced from $16,900 to $425,000

Based on the number of July sales (33), there is an 8.3 month supply of homes for sale in Marrero

Marrero LA 70072 | Number of Homes Sold | July 2010

Marrero ended July with 33 single family homes sold, bringing the year to date number of sales to 199.  This is a 4.8% decrease in sales from this same time last year.  Because the 70072 zip code also includes areas impacted by the oil spill, I’m actually surprised that we haven’t seen a bigger drop in sales due to buyer fears.

Days on market continues to climb, ending July at 99 days for the average home to sell.  This is an average of the entire zip code and your neighborhood may be performing differently.

Marrero neighborhood report of home sales

Marrero LA 70072 | Average Home Prices | July 2010

In addition to a small drop in the number of sales, Marrero is experiencing a decline in prices.  The average home sale price has decreased 6.2%, ending July at $130,920.

More about July homes sales in Marrero

• 33% of homes sold were foreclosures or bank owned properties
• 45% of sellers provided some type of closing cost assistance to the buyers
• 48% of sellers provided a home warranty for the purchasers
• FHA continues to be the financing choice of the majority of home buyers

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

188 homes are listed for sale

• High list price $550,000
• Low list price $49,900
• Average list price $190,831
• Median list price $150,000

44 homes are under contract/pending sale, priced from $50,000 to $399,000

Based on the number of July sales (22), there is a 8.5 month supply of homes for sale in Harvey

Harvey LA 70058 | Number of Homes Sold | July 2010

Home sales in Harvey continue to outpace 2009, with 131 single family home sales as of the end of July 2010, compared to 119 at the same time last year.  While it’s still below the 2005 rate, Harvey is one of the only West Bank communities recording an increase in sales.

Will will not have a true picture of the impact of the Avondale closure announcement for a period of time, since the job losses will come in phases as portions of the remaining assignments are completed.  Unless those workers are finding other employment in the area, we can expect to see an increase in either the number of foreclosures or the number of homes listed for sale.

Harvey LA 70058 | Average Home Sale Prices | July 2010

After a jump in 2009, average home prices in Harvey are down 11% from last year.  Of course, this average is for the entire zip code and your neighborhood may be performing better or worse than the average.

The average home price for the entire West Bank real estate market was $146,836 at the end of July, and Harvey homes are selling just a smidge below that.

Free online report of Harvey home values

More about July home sales in Harvey LA

• 27% of homes sold were bank owned/foreclosure properties
• 36% of seller provided a home warranty for the buyers
• 68% of sellers paid closing cost assistance for the purchasers

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

182 homes are currently listed for sale in Terrytown and Gretna

• High list price $773,900
• Low list price $45,000
• Average list price $203,559
• Median list price $169,950

38 homes are under contract/pending sale, priced from $35,500 to $329,000

Based on the number of July sales (20), there is a 9.1 month supply of homes for sale in Terrytown and Gretna

Terrytown and Gretna LA 70056 | Number of Homes Sold | July 2010

Year to date, there have been 141 homes sold in the 70056 zip code, compared to 122 at the same time in 2009 – an increase of 15.6% in the number of homes being sold in the community.  While no where near the high of 2006, it does appear that there is a steady demand for housing in the area.

Terrytown and Gretna LA 70056 | Average Home Prices | July 2010

The average home in Terrytown and Gretna is selling for $158,109, almost even with the 2009 average.  Judging by the numbers below, the roller coaster prices of 2006-2008 have evened out and we are now settling back to around the same home values we saw in 2005.  This is good news for anyone who has been in their home for at least 5 years, not so good for those who bought a home during the peak.

Get your free report of home listings and sales in Terrytown

It remains to be seen how the recent announcement of the closure of Avondale will impact the West Bank real estate market, but the loss of almost 5,000 jobs is sure to bring some changes if those folks are forced to relocate for to find employment.

More about July 2010 home sales in Terrytown and Gretna:

• 30% of homes sold were bank owned/foreclosures
• 40% of sellers provided a home warranty for the buyers
• 50% of sellers paid a portion of the purchaser closing costs
• 5% of homes sold were short sales

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)