New Orleans West Bank Real Estate

I recently posted year end home sale information for Harvey and Marrero, LA.  You can read those reports here:

Harvey and Marrero LA: 2007 Home Sales Market Report

The Multiple Listing Service combines portions of Harvey and Marrero when calculating sales, but absorption reports can be broken out by zip code.  While an overview of the market is helpful in determining trends, an area snapshot of the sales activity for the last 90 days lets you know what’s happening now. 

A healthy real estate market has, on average, a 5 to 6 month supply of homes for sale.  The market in Harvey, LA has an overall supply of 9.5 months.  This is actually one of the better markets on the West Bank of New Orleans.  Since we know that the number of homes for sale is continuing to  exceed the number of buyers, and that new homes will continue to be placed on the market, sellers in Harvey must continue to be patient with the market.

What does this mean for Harvey, LA home sellers?

It remains critical for you to price your home aggressively to attract the highest number of qualified buyers.  With such a large selection of homes, buyers are skipping over or moving on from those that are perceived to be overpriced.  There is no incentive for a buyer to haggle with a home seller when there are so many other homes for sale in a price range. 

What does this mean for Harvey, LA home buyers?

You have a wonderful opportunity!  In a buyers market, there are so many quality homes for sale for qualified purchasers.  While sellers may be flexible in prices and terms, your first step in the home buying process is still to meet with a reputable mortgage lender to determine the price range that you qualify for (and are comfortable with) before beginning your home search.

Harvey, LA Home Sales in Zip Code 70058

(as of 1/5/200

Reports like the one above can also be produced for individual neighborhoods.  If you would like more information on buying or selling a Harvey, LA home, please contact Lisa Heindel, REALTOR®.  I would be happy to prepare a more personalized report just for you.

When buying or selling a home on the West Bank of New Orleans, you deserve professional, local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers and sellers in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

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Copyright 2007. Lisa Heindel, All rights reserved.