New Orleans West Bank Real Estate

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 1/5/200

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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