West Bank Living » Harvey

Harvey LA 70058 | July 2010 Home Sales and Real Estate Market Statistics

Lisa Heindel — Wed, 11 Aug 2010 15:25:50 +0000

Current real estate activity in Harvey LA 70058:

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

Need more information about buying or selling a home in Harvey? Contact the West Bank Living Team today.

Harvey LA 70058 | June 2010 Home Sales and Real Estate Market Statistics

Lisa Heindel — Fri, 16 Jul 2010 13:22:27 +0000

Current real estate activity in Harvey LA 70058:

169 single family homes are for sale in Harvey

High list price $550,000
Low list price $37,000
Average list price $190,065
Median list price $152,000

50 homes are under contract or pending sale, priced from $54,900 to $399,000

Based on the number of June sales (25), there is a 6.8 month supply of homes for sale in Harvey LA

Harvey LA 70058 | Active Listings as of 7/16/2010

DOM = Days on Market

Harvey LA 70058 | Number of Homes Sold June 2010

Comparing sales for the first half of 2010 to the first half of 2010 shows us a change in the Harvey real estate market. While more homes have been sold in 2010, the price ranges that are attracting buyers are shifting downward.

I’m particularly concerned about the over $300,000 price range. There are 23 homes currently listed for sale in this range, while there have been only 7 sales in the last 6 months. This equates to over 18 months of inventory in the higher price ranges, meaning that sellers could be in for an extended period of time on the market.

More about June 2010 home sales in Harvey LA

Bank owned foreclosures and short sales made up 44% of the June sales
36% of sellers provided a home warranty to the buyers
36% of sellers paid some type of closing cost assistance on behalf of the purchaser

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

Harvey LA 70058 | May 2010 Home Sales and Real Estate Market Statistics

Lisa Heindel — Fri, 11 Jun 2010 16:51:34 +0000

Current real estate activity in Harvey LA 70058:

173 single homes are currently listed for sale

High list price $550,000
Low list price $44,500
Average list price $193,489
Median list price $150,000

60 homes are under contract/pending sale, priced from $30,000 to $393,500

Based on the number of May sales, there is a 8.23 month supply of homes for sale in Harvey

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

Year to date, there have been 82 single family homes sold in Harvey LA, compared to 76 at the same time last year. This is an increase of 7% in the number of homes being sold in the community. It won’t be until the July numbers are posted that we will see if this increase is due to the first time buyer tax credit or if it is truly a shift in the current West Bank real estate market.

Days on market continues to climb as buyers are taking longer to make a decision about which homes fit their needs. The average active listing has been on the market for 109 days, while the average under contract listing has been on the market for 79 days.

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

After showing one of the only increases in value in 2009, Harvey home prices are dropping off in 2010, ending May at an average sale price of $146,402. This is an average for the entire zip code, so if you want to know what is happening in your little corner, you can run your own free home value report.

More about May home sales in Harvey LA:

24% of homes were bank owned/foreclosure properties
29% of sellers provided a home warranty for the buyers
48% of sellers paid some type of closing cost assistance for the purchasers
FHA continues to be the financing option of choice for the majority of home buyers in Harvey

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

Harvey LA 70058 | April 2010 Home Sales and Real Estate Market Reports

Lisa Heindel — Sun, 16 May 2010 23:21:28 +0000

Current real estate activity in Harvey LA:

175 actively listed homes for sale in Harvey

High list price $535,000
Low list price $30,000
Average list price $181,317
Median list price $149,900

72 homes are pending sale or under contract, priced from $32,000 to $369,000

Based on the number of homes sold in April (16), there is a 10.9 month supply of homes for sale in Harvey

Harvey LA 70058 | Number of Single Family Homes Sold | April 2010

Year to date, there have been a total of 61 single family homes sold in Harvey, compared to 58 at the same time last year. With 72 homes pending sale, look for a big jump in the year to date numbers over the next couple of months. More than likely this is due to the rush by buyers to take advantage of the first time buyer tax credit that required an accepted contract be executed by April 30th and closed by June 30th.

Getting a handle on the projections for the rest of the year will be a little more difficult until after July 1st.

Average days on market in Harvey:

Active listings = 99 days
Under contract listings = 96

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

The average Harvey home sold in April went for $155,681, bringing the year to date average to $141,259. The represents a decrease of just over 14% in average home prices in the area.

Remember, these are just averages and prices vary from neighborhood to neighborhood. Get this week’s free Harvey LA home value report.

More about Harvey homes sales in April:

19% of the homes sold were foreclosures or bank owned properties
37.5% of home sellers provided a home warranty to the buyers
44% of sellers provided some type of closing cost assistance to the purchasers

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

Related Reading:

Harvey LA 70058 | March 2010 Home Sales and Real Estate Market Statistics

Lisa Heindel — Tue, 13 Apr 2010 15:35:48 +0000

Current real estate activity in Harvey LA 70058:

160 single family homes are for sale

High list price $535,000
Low list price $37,500
Average list price $182,886
Median list price $146,000

67 homes are under contract or pending sale, priced from $49,900 to $519,000

Based on the number of homes sold in March (17), there is a 9.4 month supply of homes for sale in Harvey LA

Harvey LA 70058 | Number of Homes Sold | March 2010

So far in 2010, there have been 45 successful single family homes sales, compared to 35 at the same time last year and 72 during the first quarter of 2008. This is a 29% increase in the number of homes sold in Harvey when comparing 2009 to 2010. Pricing remains the deciding factor for many buyers, so it is important for sellers to know the local market and price their homes aggressively.

Get this week’s free Harvey LA home value report

The average amount of time it is taking a home in Harvey to sell in 2010 is currently 77 days. However, don’t count on this number when selling your home since there are many factors that influence it. The average active listing has already been on the market for 105 days and the average home under contract was on the market for 88 days, so look for this number to increase as the year progresses.

One factor that is keeping the days on market down is the sale of bank owned or foreclosure properties – they are selling in an average of 53 days.

Harvey LA 70058 | Average Home Sale Prices | March 2010

It is expected that average prices will vary from month to month since they depend on which homes are sold in a 30 day period. However, it appears that bank owned properties are putting downward pressure on prices in the area, dropping the 2010 average to $136,132.

Why the drop? The average bank owned home sold in 2010 for $92,967, while privately owned homes are selling for an average of $159,923. Foreclosures have made up 33% of the 2010 home sales in Harvey. Currently there are 16 active foreclosure listings in Harvey, priced at an average of $105,356 and 17 pending sales of bank owned homes priced at an average of $103,012. Obviously, as these sales close they will have a negative impact on values in the community.

It’s important to know about foreclosures in your neighborhood if you are selling (or thinking about selling) your home. Be sure that an experienced West Bank REALTOR provides you with the details of your competition and comparables when setting your listing price.

More about March 2010 home sales in Harvey LA:

29% of the sales were of bank owned/foreclosure properties
29% of sellers paid a portion of the purchaser’s closing costs
47% of sellers provided a home warranty to the buyers
FHA remains the financing choice of the majority of purchasers

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

Related Articles:

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!

Harvey LA 70058 | February 2010 Home Sales and Real Estate Market Statistics

Lisa Heindel — Thu, 11 Mar 2010 17:03:45 +0000

Current real estate activity in Harvey LA 70058:

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

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!

Harvey LA 70058 | January 2010 Home Sales and Real Estate Market Statistics

Lisa Heindel — Wed, 17 Feb 2010 18:40:52 +0000

Current real estate activity in Harvey LA:

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

Harvey LA 70058 | 2009 Real Estate Year in Review

Lisa Heindel — Mon, 11 Jan 2010 15:13:20 +0000

Current real estate activity in Harvey:

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?

	Harvey 70058	West Bank
Active listings	156	1,132
Average list price	$173,337	$192,467
Average days on market (actives)	112	141
Homes sold in 2008	220	1,429
Average days on market (solds)	81	141

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.

	Harvey	West Bank
2009 Average sale price	$164,359	$156,546
Average listing price	$173,337	$192,467

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:

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!

Harvey LA 70058 | November 2009 Home Sales and Real Estate Market Reports

Lisa Heindel — Tue, 29 Dec 2009 21:11:29 +0000

Current real estate activity in Harvey LA:

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

For professional assistance with any of your West Bank real estate needs, please contact the West Bank Living Team. It would be our pleasure to assist you.

Harvey LA 70058 | October 2009 Home Sales and Real Estate Market Reports

Lisa Heindel — Mon, 23 Nov 2009 16:34:09 +0000

Current real estate activity in Harvey LA:

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

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.