Home > Blogs > Lisa Heindel > New Orleans Real Estate and Community Information

Harvey, LA: February 2008 Home Sale Market Update

By Lisa Heindel

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

March 04, 2008 03:28 AM

Single Family Home Sales in Harvey, LA - February 2008

Harvey home sales were up slightly in February with 15 units being sold, compared to the 13 sold in January. This is still quite a bit below the 26 units sold in February, 2007. There are 70 homes pending sale as of 3/4/2008, compared to the 59 pending sale at the beginning of February.

Inspections and financing continue to cause many contracts to be canceled prior to closing.

Sellers should be sure that their home is in tip-top condition before putting it on the market and buyers should update any loan prequalification that is over 30 days old. Many loan programs are being changed or eliminated daily, so an approval from the beginning of the year may no longer be valid.

Current active listings in Harvey: 178
Low listing price: $34,500
High listing price: $1,400,000

While the number of sales remains low, the average sale price in Harvey jumped dramatically from January to February 2008. This increase is mostly due to a number of higher end sales in Stonebridge and Barkley Estates during the month that pushed the average sale price over $200,00 for the first time in the last 6 months, significantly higher than the average sale price of $181,485 recorded in February, 2007.

Information compiled from the Gulf South Real Estate Information Network and is deemed reliable but not guaranteed.

These reports provide a broad overview of the Harvey, LA real estate market. If you would like a more in-depth report of home sales in your neighborhood, please contact me at lisa@lisaheindesells.com and your neighborhood report will be delivered to your email within 48 hours.

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.