Marrero LA Home Prices
What’s happening in the Marrero real estate market? As we move into the final quarter of the year, let’s take a look at where home prices are heading in this West Bank community.
Key Marrero LA home prices for 2016
- Lowest sold price 2021 Tuskegee Drive sold for $16,500 on 3/23/2016
- Highest sold price 19 Tara Court sold for $389,000 on 6/30/2016
- Median sold property is a 3 bedroom, 2 bath home with 1,552 square feet of living area and a sold price of $135,000
- Average sale prices are at the highest since 2009, and are up by 8.2% from 2015
Number of Marrero LA homes sold
An average of 54 single family homes have been sold each month in 2016, up from 48.6 in 2015 and 37.25 in 2014. We’ve said before that increasing prices on the East Bank will be a driving factor in pushing home buyers to consider the West Bank and it looks like it’s happening.
Buyer or seller market?
Inventory has been moving a lot faster in Marrero this year, particularly in $100,000-$150,000 price range. When we see the months of inventory drop below 5 months, it’s definitely a seller’s market right now.
Pro tip: A seller’s market doesn’t mean that buyers are willing to overpay for a property. Homes still need to be price competitively to garner buyer interest.