March is generally when we start seeing an increase in real estate sales on the West Bank. Let’s take a look at the market in zip code 70094 for the last 90 days:
- A little over 10% of the homes listed are selling each month
- The 8.7 month supply of home for sale is above the balanced market average of 5-6 months, so sellers should be aware of their competition when pricing their home to sell.
- There are a large number of homes available in a first time home buyers price range. With recent tightening of lending guidelines, interested home buyers should meet with a mortgage professional before looking at homes to narrow down their price range and get that important preapproval letter.
This report is an overview of the recent sales in zip code 70094. For a report of sales in your neighborhood or subdivision, feel free to drop me a line at lisa@lisaheindelsells.com. I’ll be happy to post a more detailed report for you and your neighbors to share.
When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.
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