Hillcrest Home Sales, Marrero LA
Here’s a quick recap of home sales and trends in the real estate market.
- Average prices: Down 19% from 2013
- Days on market: 125 average days to sell in 2014
- Price per square foot: Average of $85 in 2014 (down from $93 in 2013)
What’s bringing prices down? I assumed it might be foreclosures, but there have been no bank owned properties sold this year in Hillcrest. It appears that it’s just following the trend on the West Bank right now for lower prices.
These average prices are below what we were seeing post-Katrina, so if you bought your Hillcrest home in 2010, you may not have any equity if you need to sell. Of course, final sales prices always depend on the condition of the property and the motivation of the buyer.
Sellers should also know that about 20% of purchasers in 2014 have needed closing cost assistance, so if you get an offer on your home with this request, don’t freak out!
Need some home selling advice? We’re happy to lend you our expertise.