The question on everyone's lips these days seems to be "How's the market?" 
In compiling the following information on the West Bank real estate market, I noted the following information:
- The number of under contract listings (those scheduled to close) is significantly higher than the number closed in September, indicating an increase in buying activity
- The average sales price in Algiers increased from August to September
- The average sales price in Harvey/Marrero/Westwego remains steady
- The average sales price in Belle Chasse, Gretna and Terrytown decreased from August to September
September 2007 West Bank Real Estate Market Update | ||||
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| Active Listings as of 10/1/2007 | Low List Price | High List Price | Under Contract Listings as of 10/1/2007 |
Algiers | 342 | $ 46,000 | $ 3,750,000 | 68 |
English Turn/Lower Coast | 43 | $ 127,900 | $ 1,499,000 | 7 |
Belle Chasse | 66 | $ 45,000 | $ 2,750,000 | 10 |
Gretna/Terrytown | 237 | $ 53,000 | $ 1,800,000 | 37 |
Harvey/Marrero/Westwego | 590 | $ 45,000 | $ 1,600,000 | 140 |
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| # Homes sold in September, 2007 | Average sales price September, 2007 | Average days on market |
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Algiers | 31 | $ 182,927 | 135 |
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English Turn/Lower Coast | 2 | $ 617,250 | 161 |
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Belle Chasse | 5 | $ 279,400 | 69 |
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Gretna/Terrytown | 24 | $ 153,347 | 96 |
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Harvey/Marrero/Westwego | 69 | $ 167,838 | 61 |
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Sales activity remains strongest for well priced investment opportunities and for turn-key homes that are move-in ready. Given the large number of homes that have been updated in our area in the last 2 years, it is imperative that you have addressed all repairs, made any improvements that are within your budget and staged your home to sell before putting it on the market. The competition is still fierce for buyers, who have a large number of properties to choose from. Your home needs to be ready to show and priced right to make the cut in today's market. Need more information on getting your home ready to sell? See these articles:
- Getting Ready to Sell - Home Staging Tips
- Getting Ready to Sell - Home Staging Tips Part II
- Getting Ready to Sell - Home Staging Tips Part III
Your West Bank Real Estate Specialist
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