Gretna and Terrytown Homes for Sale – October 2007 Market Update

West Bank market update for Gretna and Terrytown

October sales volume (number of single family homes sold) has declined from the 2006 level of 36 homes sold to 24 homes sold in October of 2007, a 33% decline in the total number of homes sold during the month.

It should be noted, however, that homes sales remained stable from September to October 2007, contradicting the national media reports of continuing drops in home sale activity.

• Conventional loans remain the preferred method of financing a home purchase, accounting for 58% of the home purchases in 2007, down from 69% in 2006.

Average sale prices in Gretna and Terrytown have declined from $175,593 in October 2006 to $168,723 in October 2007, a decrease of 7% in average sold price.

• Average days on market for October 2007 was 100, an 50% increase over the 67 day average in 2006.

If you would like to receive an updated report of homes for sale and recently sold in your West Bank neighborhood, please request your Free Market Snapshot here.

Your West Bank Real Estate Specialist

Copyright 2007. All rights reserved.  Lisa Heindel, Realtor®