Terrytown and Gretna LA 70056 | February 2010 Home Sales and Real Estate Market Statistics
March 11, 2010 by Lisa Heindel
Filed under Gretna and Terrytown, Market Updates
Current real estate activity in Terrytown and Gretna LA 70056:
172 homes are for sale
- High list price $1,200,000
- Low list price $24,900
- Average list price $215,009
- Median list price $169,000
36 homes are under contract or pending sale, priced from $70,312 to $449,900
Based on the number of Terrytown/Gretna homes sold in February (13), there is a 13.2 month supply of homes for sale in the community
Terrytown and Gretna LA 70056 | Number of Homes Sold | February 2010
Although the number of home sold dropped from January to February, year to date there have been 33 single family home sales, up from 28 at the end of February 2009. With 36 pending sales, it looks like the area is off to a good start in 2010. It remains to be seen if the volume will be sustainable after the first time home buyer tax credit ends on April 30th, so we will continue to track activity in the community.
Average days on market for homes sold in 2010 is now at 80. As older inventory is cleared out, I expect this number to go up since the average days on market for active listings is currently 143 days.
Terrytown and Gretna LA 70056 | Average Single Family Home Sale Prices | February 2010
Prices took a jump in February, bringing the year to date average to $161,852. This is a slight increase over the 2009 average. Again, we will have to track ongoing activity to determine if this is a true increase in sale prices.
Some more facts about Terrytown and Gretna home sales in February:
- Condition of homes was varied, with 5 homes sold in Excellent condition, 3 homes in Average condition, 3 homes in Fair condition and 2 homes in Very Good condition
- 39% of the homes sold were bank owned or foreclosure properties
- 31% of sellers paid for a home warranty for the buyers
- 23% of sellers provided some type of closing cost assistance to the purchasers
- FHA remains the most popular choice in home purchase financing
Related Articles:
Home buying tips
Home selling tips
Homes for sale in Terrytown and Gretna LA
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!
Terrytown and Gretna LA 70056 | January 2010 Home Sales and Real Estate Market Statistics
February 11, 2010 by Lisa Heindel
Filed under Gretna and Terrytown, Market Updates
Real estate activity in Terrytown and Gretna LA 70056 as of 2/11/2010:
164 homes are for sale in Terrytown and Gretna LA
- High list price $1,200,000
- Low list price $24,900
- Average list price $215,419
- Median list price $164,950
38 homes are under contract or pending sale, priced from $44,100 to $850,000
Based on the number of homes sold in January (20), there is an 8.2 month supply of homes for sale
Terrytown and Gretna 70056 | Number of Single Family Homes Sold | January 2010
There were 20 homes sold in the 70056 zip code in January 2010, compared to 11 in January 2009. Terrytown was one of the only West Bank communities to see an increase in sales last year, and it looks like that trend is continuing into the new year.
Average days on market for homes sold in January was 87, compared to the 2009 average of 96. The average days on market for active listings is 153 – an indicator that price or condition may be keeping some of these homes on the market longer.
Find out what’s going on in your West Bank neighborhood with this week’s free market snapshot.
Terrytown and Gretna 70056 | Average Single Family Home Sale Prices | January 2010
The average single family home in Terrytown and Gretna sold in January for $144,900. While that is down from the 2009 average, it’s up about $10k from December of 2009. It will take a couple of more months of sales to be able to see a real trend for this year.
FHA is still the financing option of most buyers on the West Bank, making up 55% of the sales.
A Few More Details About January Sales
- 45% of the January sales were bank owned or foreclosure properties
- 35% of sellers provided a home warranty to the buyers
- 30% of sellers provided closing cost assistance to the buyers
All data is provided by GSREIN and is deemed reliable, but not guaranteed
Related Articles:
Home buying tips
Home selling tips
Terrytown and 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!
Terrytown and Gretna LA 70056 | 2009 Real Estate Year in Review
January 8, 2010 by Lisa Heindel
Filed under Gretna and Terrytown, Market Updates
Current real estate activity in Terrytown and Gretna:
165 homes are for sale in the 70056 zip code
- High list price $899,000
- Low list price $24,900
- Average list price $206,892
- Median list price $169,900
37 homes are under contract or pending sale, priced from $53,000 to $425,000
Based on December sales (14), there is a 8.5 month supply of homes for sale in Terrytown and Gretna
Terrytown and Gretna LA 70056 | Number of Homes Sold | December 2009
Good news for Terrytown and Gretna! The number of homes sold in the city increased from 2008 to 2009. Granted, it’s a small increase, but it’s a step towards stemming the tide of dropping sales in the area.
In 2009, sales in Gretna and Terrytown made up 15.7% of the West Bank real estate market, with 224 of the 1,429 homes sold in the area.
How Does Terrytown compare to the rest of the West Bank?
| Terrytown/Gretna 70056 | West Bank | |
| Active listings | 165 | 1,132 |
| Average list price | $206,892 | $192,467 |
| Average days on market (actives) | 157 | 141 |
| Homes sold in 2008 | 224 | 1,429 |
| Average days on market (solds) | 96 | 141 |
The average days on market for homes sold in rose again in 2009, ending the year at 96. Remember, this is just an average. The Terrytown/Gretna home on the market the longest in 2009 sold in 491 days – that’s over one year on the market – while the fastest sale was in only 1 day.
Terrytown and Gretna LA 70056 | Average Home Sale Prices | December 2009
The increase in the number of sales is offset by the drop in prices with another year of falling prices in Terrytown. The bright side (hey, there’s always a bright side) is that prices are on par with pre-Katrina values in the area.
Home sale prices in Terrytown continue to be just above the West Bank average, but my concern is the average listing prices and how sellers are deciding on a number. Your homes value depends on how your particular neighborhood is performing and should be priced accordingly. Find out what’s going on in your West Bank neighborhood with this week’s free market snapshot.
| Terrytown/Gretna | West Bank | |
| 2009 Average sale price | $158,928 | $156,546 |
| Average listing price | $206,892 | $192,467 |
Other items of note:
-
FHA continues to be the most popular financing choice in Terrytown/Gretna, with conventional financing coming in 2nd
-
44% of sellers provided some type of closing cost assistance to the buyers, so not only are prices down, but there are 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.
All data is provided by GSREIN and is deemed reliable, but not guaranteed
- Related Reading:
- Terrytown and Gretna 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 Terrytown and 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!
Terrytown and Gretna LA 70056 | November 2009 Home Sales and Real Estate Market Reports
December 30, 2009 by Lisa Heindel
Filed under Gretna and Terrytown, Market Updates
Current real estate activity in Terrytown and Gretna LA 70056:
161 homes are for sale
- High list price $899,000
- Low list price $24,900
- Average list price $210,333
- Median list price $169,900
39 homes are under contract or pending sales, priced from $53,000 to $425,000
Based on November sales (30), there is a 18.6 month supply of homes for sale in the area
Terrytown and Gretna | Number of Homes Sold | November 2009
The last couple of months have seen a substantial increase in the number of homes sold in Terrytown and Gretna, bringing the year to date number of sales to 210. Looking at the average number of homes sold each month in 2009, I would project that this year will surpass 2008 – one of the only areas on the West Bank that will record an increase in sales.
Most buyers (45.7%) are using FHA financing to purchase Terrytown homes, which means they are not purchasing homes that require substantial repairs. This is important for sellers to know when deciding what they are willing to do to prepare their homes for sale.
Terrytown and Gretna | Average Home Sale Prices | November 2009
Although the number of sales in the 70056 zip code is increasing, the average sale prices are about 5% below those of 2008. The good news is that prices are above those in 2005, our last really “normal” market on the West Bank. As is the case in every area, some communities are performing better/worse than others.
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, not guaranteed
Terrytown and Gretna Homes for Sale
New Orleans West Bank Homes for Sale
Home buying tips
Home selling tips
For more information about buying or selling a West Bank home, 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!
Terrytown and Gretna LA 70056 | October 2009 Home Sales and Real Estate Market Reports
November 20, 2009 by Lisa Heindel
Filed under Gretna and Terrytown, Market Updates
Current real estate activity in Terrytown and Gretna LA:
170 homes for sale
- High list price $999,000
- Low list price $24,900
- Average list price $217,709
- Median list price $169,700
48 homes are under contract or pending sale, priced from $35,900 to $400,000
Based on the number of homes sold in October (26), there is a 6.5 month supply of homes for sale in the area (a fairly balanced real estate market)
Terrytown and Gretna LA 70056 | Number of Homes Sold | October 2009
October marked the most active month of the year in Terrytown and Gretna home sales. I’m sure that much of this increase was due to the uncertainty about whether or not the first time home buyer’s tax credit would be extended (which it has). First Time Home Buyer Tax Credit Extended and Expanded
Year to date, there have been 180 homes sold in the 70056 zip code, compared to 190 at the same time last year. It seems that while the number of sales has been dropping for the last couple of years, we are finally beginning to see some stabilization in the market.
Terrytown and Gretna LA 70056 | Average Home Sale Price | October 2009
The 2009 average home sale price at the end of October was $158,775, a decrease of 6% from the 2008 average, but slightly above the 2005 average. Since 2005 was the last market that was not impacted by either Katrina or the economy, it’s a good barometer for “normal” and normal has been hard to find lately.
Unless you purchased your home in the last couple of years, it’s a good bet that you have not lost any of the equity in your home. Find out what’s going on in your West Bank neighborhood with this week’s free market snapshot.
All information is provided by GSREIN and is deemed reliable, but not guaranteed
You might also be interested in:
Terrytown and Gretna homes for sale
New Orleans West Bank Homes for Sale
Home Buying Tips
Home Selling Tips
The West Bank Living Team would be more than happy to assist you with any of your real estate needs. Feel free to call us or drop us a line with any of your questions or concerns.
