Marrero LA November 2008 Home Sales and Real Estate Market Reports
December 8, 2008 by Lisa Heindel
Filed under Market Updates, Marrero
Current real estate market statistics for Marrero LA as of 12/3/2008:
- 251 Active listings, priced from $49,900 to $2,650,000
- 13 pending sales (homes still being shown) priced from $64,900 to $131,153
- 3 open predication listings (waiting on buyers home to be sold) priced from $120,000 to $225,000
- 38 homes are under contract, priced from $49,500 to $148,704
- Average listing price: $168,757
- Median listing price: $146,900
- Based on November sales, there is a one year supply of homes for sale in Marrero LA
Marrero LA Number of Homes Sold November 2008
The number of homes sold in Marrero is down almost 30% from this same time last year. That’s a pretty significant drop in the number of sales, and it continues the downward trend we’ve been tracking for almost 2 years now, not just in Marrero but across the entire West Bank.
Smart home sellers in Marrero are realizing that the demand is just not what it has been in the past, and they are not only preparing their homes before they go on the market, but they are also pricing their homes to stand out from the competition and sell.
Smart home buyers in Marrero should realize that rates are low, mortgages ARE still available and it’s a buyers market in most price ranges.
Marrero LA Average Home Sale Prices November 2008
The average sale price in Marrero for 2008 is $155,025, down about 7% from 2007. Average homes values in Marrero haven’t taken quite as hard of a hit that we’ve seen in other West Bank communities, many of which are running at 2004 prices. Of course, these holding prices could also be the reason that the number of sales are down so drastically. If buyers don’t see value, they aren’t buying. Is your home the best value in the neighborhood? With very low interest rates and Jefferson Parish bond money available for buyers, now is the time to be sure that you are priced right.
All data provided by GSREIN and is deemed reliable, but not guaranteed.
Related Reading:
Copyright 2008. Lisa Heindel and West Bank Living. All rights reserved.
What’s Happening? A West Bank Calendar of Events
December 5, 2008 by lisa
Filed under Around Town, Blog
With the holidays racing towards us, it can be hard to keep up with all of the great events going on on the West Bank. I run across so many great events that I want to attend that there are just not enough hours in the day unless I can clone myself. Since that didn’t work out so well for Michael Keene in Multiplicity, I decided to just put together a calendar of West Bank events that’s easy to keep up to date and gives me a central place to put all of the fantastic things to do on.
The calendar has a permanent place on my site here, so feel free to bookmark the page and check back for new community happenings!
p.s. If you know about an event that is open to the public on the West Bank, email me to get it added to the calendar.
Copyright 2008. Lisa Heindel and West Bank Living. All rights reserved.
Belle Chasse LA November 2008 Home Sales and Real Estate Market Reports
December 5, 2008 by Lisa Heindel
Filed under Belle Chasse, Market Updates
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Current real estate statistics for Belle Chasse LA as of 12/3/2008:
- 59 Active listings, priced from $73,900 to $1,700,000
- 6 homes are under contract, priced from $59,900 to $599,000
- Average listing price: $383,396
- Median listing price: $290,000
- Average days on market for sold homes: 56
- Based on November sales, there is an 11.8 month supply of homes for sale in Belle Chasse
Belle Chasse LA Number of Homes Sold November 2008
Watching the number of homes sold each month in Belle Chasse is like watching a pendulum swing! However, the good news is that it looks like 2008 will end on par with the number of sales meeting or exceeding 2007 levels. While it is still about 25% lower than in 2004, at least the market seems to be stabilizing as far as the number of buyers. If home prices continue to drop while interest rates are low, I predict a busy spring for Belle Chasse home sellers.
Belle Chasse LA Average Home Sale Prices November 2008
Obviously, average home prices in Belle Chasse have bounced around as well, but are holding in the mid $200k range – still higher than most areas of the West Bank. Sale prices below $250,000 will continue to attract incoming military personnel, while those in higher ranges are taking a little longer to sell due to the smaller number of qualified buyers. Belle Chasse remains the community of choice for many West Bank residents, especially move up buyers who can afford to spend a little more.
That doesn’t mean that your home should be over priced though! Even buyers who are determined to live in Belle Chasse won’t spend much time looking at homes that don’t present a good value. Are you the highest priced home in your neighborhood? If so, take a look at current (90 days) sales in the area and make sure you are still competitively priced. You want to be sure that you greet the new year ready and priced right.
All data provided by GSREIN and is deemed reliable, but not guaranteed
Related Reading:
Copyright 2008. Lisa Heindel and West Bank Living. All rights reserved.
Harvey LA 70058 November 2008 Home Sales and Real Estate Market Reports
December 5, 2008 by Lisa Heindel
Filed under Harvey, Market Updates
Current real estate statistics for Harvey LA as of 12/3/2008:
- 180 Active listings, priced from $54,900 to $196,051
- 7 pending sales (still allowing showings) priced from $115,000 to $140,814
- 37 homes are under contract, priced from $20,000 to $269,000
- Average listing price: $196,051
- Median listing price: $159,900
- Based on November sales, there is a 10.6 month supply of homes for sale in Harvey LA
Harvey LA Number of Homes Sold in November 2008
On average so far in 2008, there have been 21.3 homes per month sold in Harvey, compared to 26.7 per month in 2007. With the exception of the boom following Katrina, home sales in the community have been trending downward for the last 5 years as home prices continued to rise and 2008 will not be an exception to the rule.
What does this mean for home sellers in Harvey? You MUST be priced right and in the best possible condition before you hit the market in order to compete with the existing inventory of homes for sale. If you don’t have to move right now, then it’s not yet the time to “test” the market.
Harvey LA Average Home Sale Prices November 2008
After a small decrease in home sale prices from 2006 to 2007, we have seen a return to prices comparable to those of 2004 and 2005. The average Harvey home sale price in 2008 has dropped a little over 8% from last year, at the same time that the number of homes sold decreased. Remember, we are no longer in that post Katrina, buy anything we can afford environment. Today’s buyers are carefully choosing homes that present the best value, and that is usually not the highest priced home in a neighborhood, no matter what the upgrades are.
All data supplied by GSREIN and is deemed reliable, but not guaranteed
Related Reading:
Copyright 2008. Lisa Heindel and West Bank Living. All rights reserved.
Terrytown and Gretna LA 70056 November 2008 Home Sales and Real Estate Market Reports
December 4, 2008 by Lisa Heindel
Filed under Gretna and Terrytown, Market Updates
Current real estate market statistics for Terrytown and Gretna LA as of 12/3/2008:
- 185 Active listings, priced from $31,900 to $1,590,000
- 8 pending sales (homes still being shown) priced from $30,000 to $259,900
- 20 homes are under contract, priced from $35,700 to $499,000
- Average listing price: $235,663
- Median listing price: $179,500
- Based on November sales, there is a 18.5 month supply of homes for sale in Terrytown and Gretna
- Note: A separate report is prepared for the City of Gretna home sales
Terrytown and Gretna LA Number of Homes Sold November 2008
The typical end of year drop off in sales hit Gretna and Terrytown in November, with only 10 homes sold during the month. 2008 will end the year with the lowest recorded number of sales in the area for the last 5 years. Why? Well, if you look further down the page at the average sale prices, you’ll see that they climbed every year from 2004 to 2007. As prices remained much higher than typical, the number of sales dropped off steeply.
Sellers would do well to realize that we are no longer in a post Katrina market. Buyers will not take just any old house that happens to fit their budget. They are shopping longer and looking harder at every thing before making a decision, and they are being careful to choose homes that need the least amount of work or improvements. Will your house make the cut?
Terrytown and Gretna LA Average Home Sale Prices November 2008
Overall, average home sales prices in 2008 are running about 10% lower than in 2007 and 2006. Given the excessive amount of inventory on the market right now, I encourage home sellers who can wait to not even jump into the fray with all of the other listings. If you must sell now, then take a hard look at the sold prices in your neighborhood. You must be the best of the best to win right now, whether it means spending a few dollars to get your home ready for the market or reducing your price to make it the best value in the neighborhood. Doing both of those things would be even better.
All data provided by GSREIN and is deemed reliable, but not guaranteed.
Related Reading:
If you are thinking about buying or selling in Gretna or Terrytown, please contact Lisa Heindel. Home owners are invited to sign up for Market Snapshot, a free online report of listings and sales in your neighborhood.
Copyright 2008. Lisa Heindel and West Bank Living. All rights reserved.
