Terrytown and Gretna LA 70056: August 2008 Home Sales and Real Estate Market Reports

Current real estate market statistics for Terrytown and Gretna LA (70056) as of 9/11/2008:

• 189 active listings, priced from $30,000 to $1,200,000
• Average listing price of $225,195
• 9 pending sales (accepted, but still showing) priced from $99,900 to $449,000
• 22 under contract listings, priced from $55,000 to $499,999
• Based on August sales, there is over a years worth of homes for sale in Terrytown and Gretna, definitely a buyer’s market in most neighborhoods

Terrytown and Gretna LA 70056 - Homes Sold in August 2008

Terrytown and Gretna LA 70056 - Average Home Sale Price August 2008

While the average sale price for Terrytown and unincorporated Gretna was up in August, the year to date average shows a fairly significant 12% decline in values.  It’s important to remember that the majority of the market increases in 2006 and 2007 were a direct result of post-Katrina price spikes.  Home sellers are still seeing average values that are higher than they were in 2005.

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

What does this mean for home sellers in Terrytown and Gretna?

If your home has been on the market for an extended period of time, it is time to get an updated market analysis from your West Bank REALTOR® and take another look at any repairs or improvements that may need to be made to increase your odds of selling.  Homes ARE selling in the area, but typically it is those that offer the best value to buyers, many of whom are looking for "move in ready" houses.  Does your house fill the bill?

If you are considering selling your Terrytown or Gretna home, contact Lisa Heindel.  I’d be happy to share my online marketing strategy designed to showcase your home to the largest number of qualified buyers.

Related Reading:

• 4 Things to Expect From Your Agent When Selling Your West Bank Home
• Home Selling Tips - Keep Your Eye on the Bottom Line
• Choosing a Tech Savvy REALTOR to Sell Your West Bank Home

Copyright 2008.  Lisa Heindel and West Bank Living.  All rights reserved.

Terrytown and Gretna LA 70056 Home Sales and Real Estate Absorption Rates for August 2008

Real Estate Absorption Rates for Terrytown and unincorporated Gretna, 70056

• Active listings dropped from 207 in mid July to 195 as of 8/18/2008
• The supply of homes for sale in Gretna and Terrytown is 11 vs 11.7 in July 2008
• The most active price range in the area continues to be $140.000-$200,000

The odds below are an estimate, not a guarantee that your home will sell in this time frame

For a detailed analysis of your Gretna or Terrytown neighborhood, contact Lisa Heindel, your West Bank real estate specialist.

Related Reading:

What Is A Real Estate Absorption Rate?

Copyright 2008.  Lisa Heindel and West Bank Living.  All rights reserved.

Terrytown and Gretna LA: July 2008 Home Sales and Real Estate Market Reports for Zip Code 70056

Current real estate market statistics for Terrytown and Gretna LA (70056) as of 8/5/2008:

• 184 active homes for sale, priced from $30,000 to $900,000
• 6 pending sale but continue to show, priced from $99,900 to $279,900
• 20 under contract listings, priced from $55,000 to $254,950

Based on July 2008 sales, there is a 17 month supply of homes for sale in Terrytown and unincorporated Gretna, compared to 14 months at the end of June, continuing the slowdown in sales in the area.

Terrytown and Gretna LA  70056- Number of Home Sales in July 2008

• The average home sale price in Terrytown and unincorporated Gretna for July 2008 was $167,766
• The year to date average home sale price is $164,072
• Average days on market for July was 61, while the year to date average is 83

Sellers should be aware of the recent changes to FHA down payment guidelines, since the average Terrytown and Gretna home falls within the FHA lending limits

Terrytown and Gretna LA 70056 - Average Single Family Home Sale Price in July 2008

For a detailed market analysis of your Terrytown or Gretna home, contact Lisa Heindel, your West Bank real estate specialist.  I’d be happy to show you the entire picture of your neighborhood market.

Related Reading:

• Terrytown and Gretna LA 70056- July 2008 Real Estate Absorption Report
• Previous Terrytown and Gretna LA 70056 Real Estate Market Reports
• Choosing a Tech Savvy REALTOR® to Sell Your West Bank Home

All data is compiled from GSREIN and is deemed reliable but not guaranteed.

Terrytown and Gretna LA 70056: July 2008 Real Estate Absorption Report

The Terrytown and Gretna real estate market has slowed in the last few weeks, with inventory increasing from the 8.9 months recorded in June 2008 to the current 11.7 months supply of homes for sale.

• Active listings have increased from 195 to 207.  While this is a slight increase, it is coupled with a slowdown in the number of homes being sold each month.
• Home sellers in Terrytown and Gretna should continue to keep an eye on their competition, especially in their own subdivisions, to ensure that they are still the best value to home buyers in the area

Terrytown and Gretna LA 70056 Real Estate Absorption Rates as of 7/21/2008

The odds here are an estimate, not a guarantee that your home will sell in this time frame

Data supplied by Latter & Blum REALTORS and is deemed reliable, but not guaranteed

Are you considering selling your Terrytown or Gretna home?  Contact Lisa Heindel for a local, experienced West Bank real estate agent.  I’d be happy to help you price and prepare your home for today’s market.

Related Reading:

What Is A Real Estate Absorption Rate?

Choosing a Tech Savvy REALTOR® to Sell Your West Bank Home

Home seller tips

Terrytown and Gretna, LA 70056: June 2008 Home Sales and Real Estate Market Reports

Terrytown and Gretna Homes for Sale as of 7/2/2008

• Zip code 70056 only
• 199 active listings, priced from $30,000 to $1,200,000
• 7 pending (offer accepted but still showing) listings, priced from $99,900 to $279,900
• 17 under contract listings, priced from $99,999 to $449,000
• Based on the June 2008 sales, there is a 14 month supply of homes for sale in Terrytown and unincorporated Gretna.  This is well above the 5-6 month supply of homes in a balanced real estate market and puts the area firmly in a buyer’s market.

 

Terrytown and Gretna, LA Home Sales - January 2008 through June 2008

 

• 14 homes were sold in June 2008, continuing the downward trend in Terrytown and Gretna sales for zip code 70056
• The average days on market for June 2008 was 58
• Quarterly sales were up in the 2nd quarter of 2008 compared to the 1st quarter, but if the current trend continues we can expect to see a drop in 3rd quarter numbers

 

Terrytown and Gretna Home Sales - 2nd Quarter 2007 through 2nd Quarter 2008

 

 

Terrytown and Gretna Average Home Sale Price - January 2008 through June 2008

 

• The average sales price for homes sold in Terrytown and Gretna in June 2008 was $150,993, down from $152,289 in May 2008
• Average sales prices for 2nd quarter 2008 were up slightly to $171,401
• The average listing price in Terrytown and Gretna is $224,958, significantly higher than the average sales price and indicating that buyers are continuing to look for the best value in their price range.

 

Terrytown and Gretna Average Home Sale Price - 2nd Quarter 2007 through 2nd Quarter 2008

 

For a detailed market analysis of your Gretna or Terrytown home, please contact Lisa Heindel, your West Bank real estate specialist.

 

Related Reading:

Terrytown and Gretna, LA 70056- June 2008 Real Estate Absorption Rates

Terrytown and Gretna, LA 70056 - Historical Real Estate Market Reports

5 Steps to Choosing Your New Orleans West Bank Real Estate Agent

 

    

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Here’s the disclaimer part:  The opinions expressed here are strictly those of the author, but you are free to share yours in the comments.  All information is deemed reliable but not guaranteed.

Copyright 2008.  Lisa Heindel, All rights reserved.

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