English Turn: June 2008 Home Sales and Real Estate Market Report

English Turn Homes for Sale as of 7/2/2008

 

• 46 active listings, priced from $419,000 to $1,595,000
• 4 pending listings (offer accepted but still showing) priced from $429,000 to $485,000
• 1 open predication listing priced at $585,000
• 3 under contract listings priced from $428,900 to $649,000
• Based on June 2008 sales, there is a 9.2 month supply of homes for sale in English Turn, still above the 5-6 month supply of a balanced real estate market but significantly lower than the almost 2 year supply projected last month.

 

English Turn Home Sales - July 2007 through June 2008

 

 

 

 

English Turn Average Home Sales Price - July 2007 through June 2008

 

 

• The average English Turn home sale price for June 2008 was $742,500, up from $611,000 in May.  This increase is almost completely related to a $1.2 million home sale in June.  The pending and under contract listings continue to show that the highest level of buyer interest remains in the under $500,000 price range.
• The average days on market for English Turn homes sold in June 2008 was 213 days.

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

Related Reading:

English Turn- June 2008 Real Estate Absorption Rates

English Turn - Monthly Real Estate Market Reports

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

 

    

---

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.

English Turn: May 2008 Home Sales and Real Estate Market Report

May 2008 Home Sales in English Turn Subdivision

New Orleans, LA

 

• 47 homes for sale as of 6/2/2008
• 9 homes are pending sale or under contract, priced from $428,900 to $1,300,00 (compared to 7 at this time last month)
• 2 homes sold in May 2008, compared to 3 sold in April 2008
• Based on current sales, there is an almost 2 year supply of homes for sale in English Turn at this time

 

 

• The average home sale price in English Turn for May 2008 was $611,000, up from $481,667 in April 2008
• The average listing price on homes for sale in English Turn is $638,610
• The average days on market for homes sold in May 2008 was 40, compared to 182 in April.  It is important to note that with the small number of sales, averages can change dramatically from month to month dependant upon the individual properties sold.

 

 

With several new homes entering the real estate market in English Turn, the competition just got tougher for everyone in the community.  Working with an experienced West Bank REALTOR® to assist you in staging, preparing and properly pricing your English Turn home is more critical than ever.  For a detailed market analysis of your West Bank home, contact Lisa Heindel.

 

Related Reading:

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

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

 

 

---

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.

English Turn: April 2008 Home Sales and Real Estate Market Report

Of the 5 English Turn homes under contract at the end of March, 3 resulted in a successful closing in April.  In 2007, May was the month with the highest number of homes sales in English Turn and the 7 pending contracts so far this month indicate that this May could show the same results. 

Take a look at the current English Turn real estate market:

 

• Active listings:  41
• Average list price:  $669,889
• Pending but continue to show listings:  1  (list price $519,900)
• Under contract listings:  6  (average list price $647,317)
• At the current sales rate, there is a 13.7 month supply of homes for sale

 

English Turn - Number of Home Sales in April 2008

       

 

 

 

English Turn - Average Home Sale Prices in April 2008

 

      

 

The average English Turn home sale price in April was $481,667.  This reduced average can be attributed to a couple of homes sold that were in need of remodeling and updating - not your average English Turn homes which is proven by the average list price of the homes currently under contract.

The over $700,000 portion of the market remains slow and sellers at this price point will need to continue to be patient while waiting for that just right buyer.

 

Are you considering selling your English Turn home?  Please contact me or give me a call direct at (504) 616-6262.  I’d be happy to explain my virtual marketing plan for your home.

 

Related Reading:

Algiers, LA: April 2008 Real Estate Market Absorption Rates

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

 

 

---

 

Copyright 2008.  Lisa Heindel, All rights reserved.

Algiers, LA: April 2008 Real Estate Market Absorption Rates

An absorption report is a tool used to determine trends in your local real estate market.

• How many homes are for sale in the area? Note: Homes listed with an agent only - For Sale by Owners are not included in these reports.
• How long is it taking them to sell?
• How many have sold in the last 90 days?
• What price ranges are selling fastest?

It is basically a bird’s eye view of the supply and demand in your real estate market and is a way to do a spot check of current market conditions.

Remember, an absorption report is only a snapshot of the current market and the percentages change each time a new listing comes on the market or an existing listing sells.

When reviewing these reports, keep in mind that a balanced real estate market has a 5-6 month supply of homes for sale.  Less than that creates a sellers market, while more creates a buyers market.

Algiers, LA absorption rates as of 4/13/2008

 

Algiers - 70131

With a 14.9 month supply of homes on the market, Algiers zip code 70131 is still firmly in a buyers market.  The bright spots are in the $140,000-$180,000 price range which is showing signs of recent activity increases.

 

Algiers - 70114

Algiers zip code 70114 is up and down in the various price ranges, but the overall 13.9 month supply of homes for sale keeps it in the range of a buyers market, with the exception of the $100,000-$120,000 and the under $60,000 ranges.

 

Algiers Point

Algiers Point home sales continue to lag behind the rest of the West Bank, with a 22.4 month supply of homes for sale, the majority of them priced over $250,000.

  

English Turn

English Turn is still a buyers market with the exception of the under $400,000 price range, where there is a shortage of homes for sale.  If you are an English Turn home owner who is willing to sell for less than $400,000, the odds are very good that you can do that in a fairly short time frame.

  

If you would like an absorption report for your Algiers neighborhood or for any other area of the West Bank of New Orleans, please contact Lisa Heindel, REALTOR®.  Providing you with all of the information you need to make an educated decision is just one of the many services I offer.

Copyright 2008.  Lisa Heindel, All Rights Reserved.

English Turn: March 2008 Home Sales Market Update

With the first quarter of 2008 complete, sales in English Turn continue to be slow.  5 homes were sold from January through March of 2008, with an average sale price of $610,500.

Keep in mind these current (as of 4/5/2008) statistics when reviewing the sales charts:

• 42 active listings, priced from $459,000 to $1,300,000
• 1 pending (under contract, but still showing) listing, priced at $699,000
• 4 under contract listings, priced from $439,900 to $649,000
• At the current sales rate, there is a 21 month supply of homes for sale in English Turn

• The average sale price for March, 2008 in English Turn was $518,750
• The average days on market for homes sold in March 2008 was 232 days(7.7 months of marketing time)

 

Are you interested in selling your English Turn home?  Be sure you are prepared for an extended marketing time.  Even the best West Bank agent cannot overcome the current market conditions, but you do want to be sure that you choose an agent with an aggressive internet marketing plan to expose your home to the largest pool of qualified buyers.  If you would like a copy of my personal marketing plan, please drop me an email and I’ll be happy to share it with you.

Are you interested in purchasing an English Turn home?  Give me call and we can get to work on finding the perfect home for you!

 

Whether you are buying or selling, you deserve an experienced, local agent who can help you negotiate the hurdles that exist in today’s West Bank real estate market.  Feel free to contact me with any of your real estate questions.

---

Copyright 2008. Lisa Heindel, All rights reserved.

Next Page »