West Bank Living

Marrero LA Homes for Sale as of 7/2/2008

• 275 active listings, priced from $64,000 to $1,600,000
• 14 pending (offer accepted but still showing) listings, priced from $114,900 to $249,900
• 1 open predication offer, priced at $165,000
• 50 under contract listings, priced from $54,900 to $357,400
• Based on June 2008 sales, there is a 9.8 month supply of homes for sale in Marrero, still above the 5-6 month supply of a balanced real estate market and indicating that Marrero represents some great opportunities for qualified buyers.

Marrero, LA Home Sales - January 2008 through June 2008

• 28 homes were sold in Marrero in June 2008, compared to 35 sold in May
• Days on market for June ranged from 3 to 342, with an average of 99
• Marrero home sales in the 2nd quarter of 2008 were down slightly from the 1st quarter

Marrero, LA Homes Sales - 2nd Quarter 2007 through 2nd Quarter 2008

Marrero LA Average Home Sale Prices - January 2008 through June 2008

• The average Marrero home sale price in June 2008 was $170,633, up significantly from May.  However, May appears to have been a blip in sales as evidenced by the chart above.
• The average listing price in Marrero is $189,768, still well above the average sales for the last 6 months in the area.  Sellers need to review their pricing and condition to be sure that they are as competitive as possible since it is still a buyer’s market in Marrero at this time.
• 2nd quarter average sale prices were up from the 1st quarter, but again, this can be attributed to the low sales prices seen in May 2008.

Marrero LA Average Home Sales Prices - 2nd Quarter 2007 through 2nd Quarter 2008

For a detailed market analysis of your Marrero home, contact Lisa Heindel, your West Bank real estate specialist.

Related Reading

Marrero, LA- June 2008 Real Estate Absorption Rates

Marrero, LA - Historic Real Estate Market Reports

5 Dos and Don’ts for Home Sellers

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

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.

Here is a quick look at the current real estate market in Marrero, LA.

• A balanced real estate market has on average a 5-6 month supply of homes for sale.  Typically, over 6 months of inventory indicates a buyers market.
• Homes priced under $160,000 are continuing to sell very well in Marrero, since this is the lower end of the market in a demand area of the West Bank
• The overall supply of homes for sale in Marrero dropped from 8.1 in May to the current 7.5 months of inventory, the lowest across the West Bank
• Highlighted price ranges show categories that fall into or right above a balanced/seller’s market at this time.  Home owners in the $225,000 to $250,000 may want to consider a price adjustment given the large amount of competition and the small number of homes being sold in that range.

Real Estate Absorption Rates for Marrero, LA as of 6/18/2008

Remember, an absorption report is a snapshot of the market at the current time, and the statistical odds of selling in 90 days will vary depending on the number of homes for sale and recent closed sales.  This is not a guarantee that your home will sell within this timeframe, only a tool to use to gauge buyer interest in the various price ranges in the area.

If you are considering selling your home in Marrero, it’s critical to be aware of the current market environment and to understand what competition you are facing.  For local, expert advice when selling your New Orleans West Bank home, please contact Lisa Heindel, REALTOR®.  I’d be happy to help you properly prepare and price your home for our current, challenging real estate market. 

Related Reading:

Marrero, LA- May 2008 Home Sales and Real Estate Market Report

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

Make Your Home the Star of the Neighborhood - Stage It!

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

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.

May 2008 Home Sales in Marrero, LA

• 265 homes currently listed for sale in Marrero, LA
• 69 homes are under contract or pending sale, priced from $45,000 to $395,000
• 35 homes sold in May 2008, compared to 26 in April 2008

• The average home sale price in Marrero for May 2008 was $149,152, down from $165,776 in April
• The year to date average home sale price in Marrero is $157,971
• The average listing price in Marrero is $187,726
• The average days on market for Marrero homes sold in May was 79, right at the 2008 year to date average

Reviewing the average sale prices vs the average listing price, it becomes obvious that Marrero home sellers need an experienced West Bank REALTOR® to assist in preparing and pricing homes for sale.  For an detailed market analysis of your Marrero home, please contact Lisa Heindel.

Related Reading:

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

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

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.

The overall supply of homes for sale in Marrero has decreased slightly from the 8.3 months observed in April to the current 8.1 month supply.  Keep in mind that a balanced real estate market has a 5-6 month supply of homes for sale…more than that indicates a buyers market for the area.

Homes priced in the under $160,000 range are selling very well and sellers in this price range can feel fairly comfortable that they can sell their homes in a relatively short period of time.  The $100,000-$140,000 range has slowed slightly, but is still performing.  The number of homes listed for sale has remained steady with 5 fewer listings than we saw at this time last month. 

The $160,000-$200,000 range accounts for 41% of the current listings but only 24% of the recent sales.  Sellers in this price range need to not only be aggressive in pricing their homes, they also need to remember to make them "show ready" at all times.  Buyers have a large number of choices and are opting for those homes that they perceive to be the best value in their price range.  Also, sellers should remain open to negotiating closing cost assistance to buyers, who are no longer able to get 100% financing.  More and more often, I’m seeing these assistance requests on mid-range priced homes since buyers are having to come up with more down payment funds.

Marrero, LA  70072

Data provided by Latter & Blum REALTORS® and is deemed reliable, but not guaranteed.

Remember, this report is for the entire zip code 70072.  If you would like a personalized report for your home and neighborhood, please contact Lisa Heindel, REALTOR®.  I’d be happy to help keep you up to date with your piece of the Marrero real estate market.

Related Reading:

Marrero, LA: April 2008 Home Sales and Real Estate Market Report

Make Your Home the Star of the Neighborhood - Stage It!

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

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

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.

The Marrero real estate market slowed in April 2008, with 26 homes sold compared to 39 in March.  The number of active listings was steady, showing a slight reduction from the 265 listed just one month ago.   Based on the April sales, there is a 13.9 month supply of homes for sale in Marrero, definitely a buyer’s market overall.

• Active listings:  259
• Average list price:  $191,919
• Pending but continue to show listings:  11  (Average list price $121,773)
• Open predication listings:  2  (Average list price $252,500)
• Under contract listings:  56  (Average list price $167,293)

Marrero Home Sales for April 2008

Marrero Average Home Sales Prices for April 2008

Despite the reduction in the number of homes sold in April, the average sale price showed another increase, ending the month at $165,776 - the highest yet for 2008 and higher than the same period last year.

While this report covers the entire community of Marrero, individual neighborhood reports can be prepared for you.  If you would like a report of sales in your Marrero subdivision, please feel free to contact me or give me a call at (504) 616-6262.

Related Reading:

Marrero, LA: April 2008 Real Estate Absorption Report

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

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

Copyright 2008.  Lisa Heindel, All rights reserved.