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Harvey LA 70058 | Home Sales and Real Estate Trends for September 2009

By Lisa Heindel

Real Estate Broker/Owner with Crescent City Living LLC Licensed LA RE Commission

October 20, 2009 03:24 AM

Current real estate activity in Harvey LA 70058:

157 homes for sale

High list price $585,000
Low list price $20,000
Average list price $180,021
Median list price $155,000

70 homes are under contract or pending sale, with an average list price of $152,624

Based on the number of homes sold in September (16), there is a 9.8 month supply of homes for sale in the area.

Harvey LA 70058 | Number of Homes Sold | September 2009

Harvey has seen 147 homes sold through September 2009, compared to 200 at the same time last year (a decrease of 26.5%). Like most other areas, the majority of Harvey home buyers are using FHA financing. These loans require the lowest down payment possible (3.5%) and appeal to the first time home buyers who are trying to get closed before the tax credit expires at the end of November.

Of note is the fact that 44% of the September buyers received an average of $2,756 in assistance from the seller with their closing costs and prepaids. If you are considering selling your Harvey home, be sure that the agents you talk to can provide you with adjusted sales prices to take any of this assistance into account when determining an acceptable sales price.

Harvey LA 70058 | Average Home Sale Price | September 2009

While the average sale price dropped from August to September, the year to date average is still almost 7% higher than in 2008 – a rare occurrence of increasing prices in today’s market! Remember, though, that this average does not take into account any seller paid assistance or allowances provided to the buyers at closing and your agent should be able to provide details such as this for sales in your neighborhood.