Harvey, LA: January 2008 Home Sales and Market Update

Mardi Gras is over and it’s time to get back to the business of selling houses.  Here is the January 2008 report on home sales in Harvey, LA, zip code 70058.

Harvey, LA Home Sales

The number of sales remained constant from 2007 to 2008, while average sale prices declined by 18%.  Days on market increased by over 1 week (nothing to worry about).

January 2008 January 2007
# Homes sold 13 13
Average Sale Price $133,008 $162,896
Average Days on Market 77 69
Total Sales Volume $1,729,100 $2,117,650

 

There are currently 179 active listings in Harvey, priced from $39,500 to $599,000.  A lot of homes?  Yes.  But the good news is that there are 59 homes pending sale with list prices from $20,000 to $399,000.  That is also a lot of homes that are going through inspections and making their way to closing.  This is a good indicator that the market in Harvey is picking up as we edge our way closer to spring.

Moving into the traditionally hot spring market, home sellers should make sure that their homes are priced right and in their best showing condition possible.  Houses that buyers perceive to be the best value will always be the first to sell.

Buyers interested in living in Harvey, LA need to schedule a meeting with their lenders to determine their buying power this year.  Mortgage guidelines have changed from 2007 and as more homes begin to go to sale, buyers run the risk of missing out on the best properties in their price range by not being prepared to make an offer.

Related reading:

If you need more information on buying or selling a home in Harvey, feel free to contact the West Bank Living Team.

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