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Harvey, LA: January 2008 Home Sale Market Update

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

Mardi Gras is over and it's time to get back to the business of selling houses.  Here is the January 2008 report on home sales in Harvey, LA, zip code 70058.

Harvey, LA Home Sales

The number of sales remained constant from 2007 to 2008, while average sale prices declined by 18%.  Days on market increased by over 1 week (nothing to worry about).

 January 2008January 2007
# Homes sold1313
Average Sale Price$133,008$162,896
Average Days on Market7769
Total Sales Volume$1,729,100$2,117,650

There are currently 179 active listings in Harvey, priced from $39,500 to $599,000.  A lot of homes?  Yes.  But the good news is that there are 59 homes pending sale with list prices from $20,000 to $399,000.  That is also a lot of homes that are going through inspections and making their way to closing.  This is a good indicator that the market in Harvey is picking up as we edge our way closer to spring.

Moving into the traditionally hot spring market, home sellers should make sure that their homes are priced right and in their best showing condition possible.  Houses that buyers perceive to be the best value will always be the first to sell.

Buyers interested in living in Harvey, LA need to schedule a meeting with their lenders to determine their buying power this year.  Mortgage guidelines have changed from 2007 and as more homes begin to go to sale, buyers run the risk of missing out on the best properties in their price range by not being prepared to make an offer.

Related reading:

If you need more information on buying or selling a home in Harvey, feel free to contact Lisa Heindel at (504) 616-6262 or by email at lisa@lisaheindelsells.com.

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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 buyer, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

Copyright 2008. Lisa Heindel, All rights reserved

Comments (2)

ActiveRain City and State Listing Group
Christiansted, VI

Lisa,

These stats are interesting because what we are seeing here in the Asheville area is the same sort of experience you seem to be having. The sales are of the lower priced homes, leaving behind the more expensive homes which makes it look like our average asking prices are going up.

Our DOM are increasing also and inventory is high. Your sales prices are much better than ours. We are going higher every day. I'm not sure how that will play out for us in the long run.

Hopefully you will stay busy all year long.

Feb 07, 2008 01:33 AM
Lisa Heindel
Crescent City Living LLC - New Orleans, LA
New Orleans Real Estate Broker
Don, we have very reasonable prices here compared to so many other areas of the country.  Now that all of the holidays have past, I'm seeing an increase in activity on the low to mid priced homes.  Not so much on the higher end properties, though.
Feb 07, 2008 02:05 AM