Terrytown and Gretna, LA 70056: June 2008 Real Estate Absorption Rates

Here is a quick look at the current real estate market in Terrytown and Gretna, LA.

• A balanced real estate market has on average a 5-6 month supply of homes for sale.  Typically, over 6 months of inventory indicates a buyers market.
• The under $160,000 price ranges are doing very well in Terrytown and Gretna, indicating a current sellers market in these popular price ranges. 
• The overall supply of homes for sale in Gretna and Terrytown edged up slightly for the third month in a row, hitting 8.9 months as of 6/18/2008.
• There is an oversupply of homes for sale in the $225,000-$250,000 range, so home sellers who fall into this category should be prepared for a possible extended marketing time.  Owners of homes in the over $300,000 price range might want to consider staging their homes to better position themselves in this tough category.

Real Estate Absorption Rates for Terrytown and Gretna as of 6/18/2008

 

 

 

If you are considering selling your home in Gretna or Terrytown, it’s critical to be aware of the current market environment and to understand what competition you are facing.  For local, expert advice when selling your New Orleans West Bank home, please contact Lisa Heindel, REALTOR®.  I’d be happy to help you properly prepare and price your home for our current, challenging real estate market. 

 

Related Reading:

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

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

  

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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.

Gretna, LA Home Sales: What’s Selling in the City of Gretna

The 2007 year end real estate sales in Gretna, LA were recently posted.  You can read about the market changes from 2006 to 2007 at:

Gretna LA: 2007 Home Sales Market Report (70053)

An overview of sales is the usual indicator for how the market is performing in an area.  But, there are differences in sales within price ranges that should be reviewed as well.  A healthy real estate market has a 5 to 6 month supply of housing inventory for sale.  In reviewing sales for the last 90 days in Gretna, LA, it becomes obvious that there is an overabundance of homes for sale in several price ranges, and some price ranges have no recorded sales in the past 3 months.

 

What does this mean for Gretna, LA home sellers? 

If you are considering just “testing” the real estate market, DON’T.  Only home sellers who are serious should be in this market.  This means pricing your home aggressively and having the patience to wait for the right buyer.

 

What does this mean for Gretna, LA home buyers? 

With so many quality homes to choose from, this is a great time to begin your home search.  Although we are in what can easily be termed a buyer’s market, it is still important to make sure you are pre-qualified for a mortgage before looking at homes.  While sellers may be flexible in negotiating a sale, they are not willing to take a house off of the market for an unqualified buyer.

City of Gretna Home Sales in Zip Code 70053

(as of 1/5/2008)

Absorption reports like the one above can be prepared for individual neighborhoods upon request.  If you need more information on selling or buying a home in Gretna, please contact Lisa Heindel, REALTOR®.  I’ll be happy to prepare a personalized report for you.

 

 

 

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Copyright 2008. Lisa Heindel, All rights reserved.