Current real estate activity in Terrytown and Gretna:
165 homes are for sale in the 70056 zip code
- High list price $899,000
- Low list price $24,900
- Average list price $206,892
- Median list price $169,900
37 homes are under contract or pending sale, priced from $53,000 to $425,000
Based on December sales (14), there is a 8.5 month supply of homes for sale in Terrytown and Gretna
Terrytown and Gretna LA 70056 | Number of Homes Sold | December 2009
Good news for Terrytown and Gretna! The number of homes sold in the city increased from 2008 to 2009. Granted, it’s a small increase, but it’s a step towards stemming the tide of dropping sales in the area.
In 2009, sales in Gretna and Terrytown made up 15.7% of the West Bank real estate market, with 224 of the 1,429 homes sold in the area.
How Does Terrytown compare to the rest of the West Bank?
| Terrytown/Gretna 70056 | West Bank | |
| Active listings | 165 | 1,132 |
| Average list price | $206,892 | $192,467 |
| Average days on market (actives) | 157 | 141 |
| Homes sold in 2008 | 224 | 1,429 |
| Average days on market (solds) | 96 | 141 |
The average days on market for homes sold in rose again in 2009, ending the year at 96. Remember, this is just an average. The Terrytown/Gretna home on the market the longest in 2009 sold in 491 days – that’s over one year on the market - while the fastest sale was in only 1 day.
Terrytown and Gretna LA 70056 | Average Home Sale Prices | December 2009
The increase in the number of sales is offset by the drop in prices with another year of falling prices in Terrytown. The bright side (hey, there’s always a bright side) is that prices are on par with pre-Katrina values in the area.
Home sale prices in Terrytown continue to be just above the West Bank average, but my concern is the average listing prices and how sellers are deciding on a number. Your homes value depends on how your particular neighborhood is performing and should be priced accordingly. Find out what's going on in your West Bank neighborhood with this week's free market snapshot.
| Terrytown/Gretna | West Bank | |
| 2009 Average sale price | $158,928 | $156,546 |
| Average listing price | $206,892 | $192,467 |
Other items of note:
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FHA continues to be the most popular financing choice in Terrytown/Gretna, with conventional financing coming in 2nd
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44% of sellers provided some type of closing cost assistance to the buyers, so not only are prices down, but there are a significant number of sellers offering concessions to get their homes sold. Be sure that your agent has provided you with the details of home sales in your neighborhood to know the whole story.
All data is provided by GSREIN and is deemed reliable, but not guaranteed
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Related Reading:
- Terrytown and Gretna homes for sale
- New Orleans West Bank homes for sale
- Home buying tips
- Home selling tips
For more information about home buying or selling in Terrytown and Gretna or a relocation to or from NAS JRB New Orleans, please contact the West Bank Living Team. It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!
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