152 single family homes are currently for sale

• High list price $539,000
• Low list price $500 (HUD property with pre-existing liens on it)
• Average list price $180,946
• Median list price $148,000

52 homes are under contract or pending sale, priced from $50,301 to $339,000

Based on the number of homes sold in February (13), there is a 11.7 month supply of homes for sale in the area

Harvey LA 70058 | Number of Homes Sold | February 2010

Year to date, there have been 28 single family homes sold in Harvey, compared to 20 at the same time last year (an increase of 40%).

Average days on market for homes sold in February was 38, bringing the year to date average to 64 days.  Compare this to the average days on market for active listings of 115 and I expect that we will see this number rise over the coming months as homes that have been on the market longer begin to sell.

Harvey LA 70058 | Average Single Family Home Prices | February 2010

The average Harvey home price took a jump in February, bringing the year to date average to $142,100.  Part of the drop in prices when compared to 2009 can be attributed to the fact that 25% of the sales so far this year were of properties in Fair or Poor condition.  Homes in excellent condition are continuing to command higher prices.

Get up to date information on listings and sales in your West Bank neighborhood

Some more details about February 2010 home sales in Harvey:

• 6 homes were in Excellent condition, 3 homes in Average condition, 2 homes in Fair condition, 1 home in Very Good condition and 1 home in Poor condition
• 46% of the homes sold were bank owned or foreclosure properties
• 31% of sellers paid for a home warranty for the buyers
• 38% of sellers provided some type of closing cost assistance to the purchasers

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

Related Articles:

Home buying tips
Home selling tips
Homes for sale in Harvey LA
West Bank Real Estate Market Statistics

149 single family homes are for sale

• High list price $549,000
• Low list price $500
• Average list price $175,505
• Median list price $145,000

53 homes are under contract or pending sale, priced from $54,500 to $419,000

Based on the number of homes sold in January (13), there is an 11.5 month supply of homes for sale in Harvey

Harvey LA 70058 | Number of Single Family Home Sales | January 2010

13 homes were sold in Harvey LA in January 2010, compared to 8 at the same time last year, continuing the trend for Harvey as one of the most popular areas on the West Bank.

At the same time, the average days on market for homes sold in January increased to 91.  The average days on market for active listings is now at 112 days and the average for pending sales is 139 days.  After a slight dip in 2009, it looks like it may take a little longer to get homes sold in the area.

Find out what’s going on in your West Bank neighborhood with this week’s free market snapshot.

Harvey LA 70058 | Average Single Family Home Prices | January 2010

The average sale price for a single family home in Harvey ended January at $144,329, down from the both the December 2009 average and the overall 2009 average.  Part of this drop can be attributed to 4 low end (under $65,000) sales, which accounted for 31% of the January activity.

Some more details about January sales in Harvey

• 23% of the sales were bank owned or foreclosure properties
• 23% of sellers provided some type of closing cost assistance to the purchasers
• 31% of sellers paid for a home warranty for the buyers

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

Related Articles:

Home buying tips
Home selling tips

Find Harvey LA homes for sale

West Bank Real Estate Market Statistics

156 homes are for sale in the 70058 zip code

• High list price $549,000
• Low list price $500
• Average list price $173,337
• Median list price $147,450

40 homes are under contract or pending sale, priced from $54,500 to $379,000

Based on December sales (16), there is a 9.75 month supply of homes for sale in Harvey

Harvey LA 70058 | Number of Homes Sold | December 2009

Sales dropped off again in December, bringing the total number of Harvey LA homes sold in 2009 to 220.  This is a decline of 14.4% from 2008 sales in the area.

How does Harvey compare to the rest of the West Bank?

The average days on market for homes sold in rose again in 2009, ending the year at 81. Remember, this is just an average.  The Harvey home on the market the longest in 2009 sold in 208 days, while the fastest sale was in only 1 day.

Harvey LA 70058 | Average Home Sale Prices | December 2009

Here is the good news:  the decrease in the number of sales is offset by one of the only price increases on the West Bank.  The average Harvey home sale price went up by 6.5% from 2008 to 2009 – the largest increase of any of the West Bank communities from Algiers to Avondale.

Reflecting it’s position as one of the most popular areas on the West Bank, home sale prices in Harvey continue to run higher than the West Bank average, and it looks like the average seller is pricing accordingly.  In order to be competitive in today’s real estate market, your homes listing price 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 Harvey,  with conventional financing coming in a distant second.
• 42% of sellers provided some type of closing cost assistance to the buyers – that’s 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 when setting your selling price.

  

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

Related Reading:

• Harvey LA homes for sale
• New Orleans West Bank homes for sale
• Home buying tips
• Home selling tips
• West Bank Real Estate Market Reports

For more information about home buying or selling in Harvey Louisiana 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!

156 homes are for sale

• High list price $549,000
• Low list price $500**
• Average list price $174,018
• Median list price $148,750

**The property listed for $500 is a HUD property with other existing liens that would have to be cleared to obtain a clear title to the property

42 homes are under contract or pending sale, priced from $54,500 to $389,000

Based on the November sales (19), there is a 8.2 month supply of homes for sale in Harvey

Harvey LA | Number of Homes Sold | November 2009

After a big spike in October, home sales in Harvey dropped to 19 homes sold in November, bringing the year to date total to 202.  Compared to 238 at the same time last year, this is a decrease of just over 15% in the number of homes being sold in the area.

Harvey LA | Average Home Sale Prices | November 2009

While the number of sales may be down, Harvey is recording the largest increase in prices on the West Bank. The average home sale price of $164,267 is an increase of 6.5% over the 2008 average and even surpasses the 2005 average, which was our last really “normal” real estate market in the metro area.

Not every neighborhood has seen an increase in value, but this month’s spot to watch is Spanish Oaks, where we’ve seen surprisingly higher than normal prices in some recent sales.

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

Harvey LA Homes for Sale
New Orleans West Bank Homes for Sale

Home buying tips
Home selling tips

164 homes for sale

• High list price $549,000
• Low list price $500
• Average list price $182,181
• Median list price $154,950

58 homes are under contract or pending sale, priced from $49,700 to $525,000

Based on the number of homes sold in October (35), there is a 4.69 month supply of homes for sale in the area.

Harvey LA 70058 | Number of Homes Sold | October 2009

Look at the jump in closed sales for Harvey!  While I don’t know the details on every single transaction, I would project that the large increase was due to the expected expiration on November 30th of the tax credit for first time home buyers that has been extended and expanded. 

Update to 2009 First Time Home Buyer Tax Credit

Should sales continue at the same pace (which is possible given the 58 pending sales), Harvey would be the shining star of West Bank real estate and the only seller’s market in the area, despite the fact that the number of sales is down almost 17% from the same time last year.

Harvey LA 70058 | Average Home Sale Price | October 2009

The average home sale price in Harvey for October was $158,129, bringing the year to date average to $163,373, UP 5.9% from the 2008 average and the only increase in home values that we are seeing on the West Bank of New Orleans. 

While this is good news, it’s important to remember that if you purchased your home during 2005-2007 you may only be at a break even point or experiencing a loss of equity.  Before deciding to sell, it’s important to know what’s going on in your neighborhood.  Get this week’s free Harvey LA market snapshot

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

Related Information:
Harvey LA Homes for Sale
New Orleans West Bank Homes for Sale

Harvey LA Real Estate Market Reports

Home Buying Tips
Home Selling Tips

If you have questions about the Harvey LA real estate market or need information about buying or selling a home, please contact the West Bank Living Team.  It would be our pleasure to assist you with any of your real estate needs.

157 homes for sale

• High list price $585,000
• Low list price $20,000
• Average list price $180,021
• Median list price $155,000

70 homes are under contract or pending sale, with an average list price of $152,624

Based on the number of homes sold in September (16), there is a 9.8 month supply of homes for sale in the area.

Harvey LA 70058 | Number of Homes Sold | September 2009

Harvey has seen 147 homes sold through September 2009, compared to 200 at the same time last year (a decrease of 26.5%).   Like most other areas, the majority of Harvey home buyers are using FHA financing.  These loans require the lowest down payment possible (3.5%) and appeal to the first time home buyers who are trying to get closed before the tax credit expires at the end of November.

Of note is the fact that 44% of the September buyers received an average of $2,756 in assistance from the seller with their closing costs and prepaids.  If you are considering selling your Harvey home, be sure that the agents you talk to can provide you with adjusted sales prices to take any of this assistance into account when determining an acceptable sales price.

Harvey LA 70058 | Average Home Sale Price | September 2009

While the average sale price dropped from August to September, the year to date average is still almost 7% higher than in 2008 – a rare occurrence of increasing prices in today’s market!  Remember, though, that this average does not take into account any seller paid assistance or allowances provided to the buyers at closing and your agent should be able to provide details such as this for sales in your neighborhood.

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

Related reading:

Harvey LA homes for sale
Harvey LA Real Estate Market Reports

Home Buying Tips
Home Selling Tips

Find out what’s going on in your West Bank neighborhood with this week’s free market snapshot

Questions?  Feel free to contact the West Bank Living Team for any of your real estate needs.  It would be our pleasure to assist you.

169 homes for sale

• High list price $599,900
• Low list price $34,900
• Average list price $201,052
• Median list price $163,000

72 homes are under contract/pending sale, priced from $69,900 to $346,900

Based on the number of homes sold in August (13), there is a 13 month supply of homes for sale in Harvey

Harvey LA 70058 | Number of Homes Sold | August 2009

Harvey ended the month of August 2009 with 13 homes sold, down from 23 in August of 2008.  Year to date, there have been a total of 131 successful sales or an average of 16.38 homes per month. If this trend continues, we can expect to see another 65 or so homes sell by year end.  

While the number of sales continues to decline from year to year, the bright spot in the Harvey real estate market is the increase in average home sale prices (see below).

Harvey LA 70058 | Average Home Sale Price | August 2009

Good news!

Home prices in Harvey have continued to climb from month to month in 2009, ending August with a year to date average of $167,762 – an increase of 8.7% from 2008.  Harvey is one of the only local areas that has experienced an increase in home prices. 

How did your neighborhood do?  Find out what’s going on in your West Bank neighborhood with a free Market Snapshot of listings and sales in your area.

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

Are you interested in buying or selling a home in Harvey LA?  These links provide more information about the local real estate market, along with buying and selling tips:

Search all Harvey homes for sale
Harvey LA Real Estate Market Reports

Home Buying Tips
Home Selling Tips

For assistance with any of your New Orleans West Bank real estate needs, contact the West Bank Living Team.  It would be our pleasure to help!

181 homes for sale

• High list price $599,900
• Low list price $39,900
• Average list price $197,465
• Median list price $160,000

52 pending sales, priced from $70,000 to $399,999

Based on the number of homes sold in July (17), there is a 10.6 month supply of homes for sale in the area

Harvey LA 70058 | Number of Homes Sold | July 2009

17 homes were sold in Harvey LA in July 2009, compared to 24 in July of last year.  This brings the year to date number of houses sold to 118 (an average of 16.9 houses per month).  If the same average continues, we can expect to see approximately 202 homes sold in the area by the end of the year, or a 21% drop in the number of sales.

Harvey LA 70058 | Average Home Sale Price | July 2009

The average home prices in Harvey have been creeping up month after month, and although the number of sale may be down, the home values in Harvey have increased about 5% from the 2008 averages – rare news in today’s market!

Some details about July 2009 Home Sales in Harvey:

• 10 of the 17 homes sold used FHA or VA financing
• 8 of the 17 sellers provided closing cost assistance to the buyers (average assistance = $5,342)
• Homes sold for an average of 97% of the asking price
• Average days on market was 93
• Average price per square foot was $81.16

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

Related Reading:
Harvey LA Real Estate Market Reports
Home Buying Tips
Home Selling Tips

Find A Home:
Harvey LA homes for sale
New Orleans West Bank Homes for Sale

Questions about the Harvey 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.

Relocating to or from the West Bank of New Orleans?  In addition to general relocation services, we specialize in assisting incoming military personnel with finding their new neighborhood or referring them to a real estate professional in their destination city.  FREE home warranties for all active duty military, whether buying or selling!

188 homes for sale

• High list price $689,000
• Low list price $49,900
• Average list price $205,825
• Median list price $162,000

44 pending sales, priced from $70,000 to $539,900

Based on the number of homes sold in June (25), there is a 7.5 month supply of homes for sale in the area

Harvey LA 70058 – Number of Homes Sold – June 2009

Home sales in Harvey have been steadily climbing this year, with 100 homes sold as of June, compared to 132 at the same time last year.  Although the number of sales have dropped, Harvey is one of the only West Bank neighborhoods that is recording an actual increase in the average sale prices.

What sold in Harvey?

• 5 homes under $100,000 – all in Poor, Fair or Average condition
• 5 homes between $100,000 and $150,000 (average sale price of $135,780)
• 8 homes between $150,000 and $200,000 (average sale price of $162,475)
• 4 homes between $200,000 and $300,000 (average sale price of $241,150)
• 3 homes between $400,000 and $500,000 (average sale price of $438,333)

Note that there were no sales of home in the $300-$400k range, although there are currently 15 homes listed in this price range.  Of the 25 recorded sales, 7 sellers (28%) provided an average of $3,955 in closing cost assistance to the purchasers.

Harvey LA 70058 – Average Home Sale Price – June 2009

Although the average home sale prices are lower than they were in 2005, Harvey is experiencing one of the only real estate markets that is recording an increase in average home sale prices, mostly due to a number of higher end sales in Barkley Estates and Stonebridge.

The increase in businesses opening in Harvey has led to it being one of the highest demand areas of the West Bank, given the convenient location and close proximity to the majority of the shopping in the area.

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

Related Reading:
2009 First Time Home Buyer Tax Credit FAQ
Home Buying Tips
Home Selling Tips
Find out what’s going on in your West Bank neighborhood with this week’s free market snapshot.

Find a Home:
Harvey homes for sale
West Bank Homes for Sale

175 homes for sale

• High list price $689,000
• Low list price $49,000
• Average list price $208,917
• Median list price $164,900

50 pending sales, priced from $62,000 to $515,000

Based on the number of homes sold in May (17), there is a 10 month supply of homes for sale in Harvey

Harvey LA – Number of Homes Sold – May 2009

So far this year, there have been 73 homes sold in Harvey, compared to 110 at the same time last year.  This dip reflects the sales trend across most of the West Bank of New Orleans for 2009.  With financing harder to get and FHA down payments increasing, it’s tough for many buyers, especially first time buyers, to make the move to home owner.

What Sold in Harvey?

• 1 NEW home sold for $268,500
• 9 homes in EXCELLENT condition sold from $78,000 to $275,000
• 3 homes in VERY GOOD condition sold from $113,000 to $152,000
• 3 homes in AVERAGE condition sold from $118,000 to $209,000
• 1 home in FAIR condition sold for $39,500
• FHA remains the financing choice of the majority of home buyers in Harvey

Harvey LA – Average Home Sale Price – May 2009

The monthly home sale prices have jumped all over the map this year, but the year to date average is $150,614, down just 2% from the 2008 average.  If you bought a home just after Katrina, my advice is to stay put if possible, unless you have the financial ability to not only take a loss on the sale of your home but to bring cash to the closing to make up the difference. 

The difference between a loss and a gain, however, goes back to that old real estate mantra of location, location, location.  Every community, down to the subdivision level, is performing differently.  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 Reading:

5 Dos and Don’ts for Home Sellers

Are You REALLY Ready to Sell Your West Bank Home?

Find A Home:

Harvey LA homes for sale

New Orleans West Bank Homes for Sale

Do you have questions about the Harvey real estate market?  Are you considering buying or selling a home? The West Bank Living Team provides local, professional real estate services to 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.