Another year over and time to once again take a look at the real estate market in on the West Bank.
Current real estate statistics for Harvey LA:
- 150 active listings, priced from $44,900 to $597,400
- 6 pending (but still showing) listings, priced from $115,000 to $227,000
- 31 homes are under contract, priced from $69,660 to $589,900
- The average listing price is $193,882
- The median listing price is $159,900
- Based on December 2008 sales (19), there is a 7.9 month supply of homes for sale in Harvey LA
Harvey LA - Number of Homes Sold 2008
Home sales in Harvey remained fairly steady from month to month in 2008, averaging 21 sales per month and ending the year with a total of 257 homes sold. This is down 19% from the number sold in 2007. That seems like a lot, until you realize that across the West Bank home sales were down by 23%, so Harvey is performing a little better than the average.
Note the chart below, and you will see that with the exception of 2006 (post Katrina market), sales have been dropping year to year since 2004. Now, this may not be the case in every individual neighborhood, so if your Harvey home is for sale or will be for sale soon, your agent needs to provide the sales data for your specific community.
With fewer homes selling each year, it remains critical that home owners price and prepare their homes before they go on the market in order to be competitive. Home Selling Tips
Harvey LA - Average Home Sale Prices 2008
Harvey ended 2008 with an average sale price of $154,273, down 9.3% from 2007. (The West Bank average decrease in price was 10%) Again, this is an average and your neighborhood may be performing better or worse than this.
For all of the Chicken Little's out there, I would point out that if you bought your home before 2005, then your home is more than likely worth more than you paid for it, provided you have kept up with maintenance issues. If you want up to date information on current listings and sales in your neighborhood, you are welcome to stop by and sign up for a free Market Snapshot.
All data is provided by GSREIN and is deemed reliable, but not guaranteed.
If you are considering buying or selling a home in Harvey, please contact Lisa Heindel. It would be my pleasure to guide you through today's real estate market.