New Orleans Real Estate News: May 2010

April 2010 Home Sales and Real Estate Market Update for Marrero LA 70037

Current real estate activity in Marrero LA:

255 homes are actively listed for sale in Marrero

  • High list price $1,995,000
  • Low list price $19,900
  • Average list price $162,399
  • Median list price $139,000

82 homes are pending sale or under contract, priced from $16,900 to $349,000

Based on the number of homes sold in April (33), there is a 7.7 month supply of homes for sale in Marrero

Marrero LA 70072 | Number of Single Family Homes Sold | April 2010

Marrero LA 70072 | Home Sales and Real Estate Market Updates

Sales held steady from March to April, bringing the year to date total number of homes sold in Marrero to 92.  This is down from 133 sales at the same time last year, a decrease of 30.8%.  However, with 82 pending sales waiting in the wings, I expect us to surpass 2009 sales in the next couple of months.  While a percentage of the contracts will not close, first time buyers have a heightened interest in keeping their deals together in order to qualify for the tax credit.

Marrero LA 70072 | Home Sales and Real Estate Market Updates

Days on market is up so far this year, with the average home sold in 92 days.  Look for this number to continue to go up, since the average listing has already been on the market for 116 days and the average home under contract was on the market for 124 days.

Marrero LA 70072 | Home Sales and Days on Market

Marrero LA 70072 | Average Single Family Home Prices |April 2010

Marrero LA 70072 | Home Sales and Real Estate Market Updates

Prices climbed again in April, bringing the year to date average to $135,303.   This puts the average sale price in Marrero down just over 3% from the 2009 average.

Marrero LA 70072 | Home Sales and Real Estate Market Updates

More about April 2010 Marrero home sales:

  • 18% were bank owned or foreclosure properties
  • 36% of sellers provided a home warranty to the buyers
  • 45% of sellers paid some type of closing cost assistance for the purchasers
  • More than half of all home sales in Marrero this year have been financed with an FHA loan

Marrero LA 70072 | Home Sales and Real Estate Market UpdatesAll data provided by GSREIN and is deemed reliable, but not guaranteed

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Comment balloon 2 commentsLisa Heindel • May 27 2010 01:27AM
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