The Residence at Park Avenue | Harvey Real Estate Update

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What’s happening with real estate prices in the Residence at Park Avenue?

As of 10/28/14, there are just 2 units available in this upscale, gated community on the West Bank of New Orleans, listed at $269,900 and $359,000.

Home Sales in the Residence at Park Avenue

As of 9/30/2014, there have been 2 units sold this year, at an average sale price of $191,313 or $90.40 per square foot. The average time to sell a unit this year has been 250 days.

As of 9/30/2013, there were 3 units sold at an average sale price of $337,167 or $107.30 per square foot with an average marketing time of 367 days.

What changed?

The 2013 sales were units in impeccable condition, while the 2014 sales have been 2 bank owned properties that needed repairs. If you are considering selling your place in the Residence, be sure that your pricing reflects the condition of your unit, not the condition of the most recent sales.

Considering renting your unit?

There’s a pretty big pool of potential tenants for this neighborhood, so if you are considering renting your unit, let us know. We can help you find a tenant and take care of the marketing, the background and credit checks and the lease preparation.

Homes for sale in The Residence at Park Avenue

 

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