New Orleans West Bank Living and Real Estate News: Louisiana: Gretna

Real estate activity in Gretna LA 70053 as of 2/10/2010:

57 homes are for sale in Gretna, 70053

• High list price $409,000
• Low list price $45,000
• Average list price $153,403
• Median list price $139,900

11 homes are under contract or pending sale, priced from $29,900 to $169,900

Based on the number of homes sold in January (3), there is a 19 month supply of homes for sale in the area

Gretna LA 70053 | Number of Single Family Homes Sold | January 2010

Gretna started off 2010 with a total of 3 home sales in January, compared to 4 in January 2009.  With the first time home buyer tax credit extended, I would expect that we will see an increase in buying activity once we get past Mardi Gras.

Because buyers must have a home under contract by April 30th to take advantage of the credit, there is a short window between the end of Carnival and the deadline for choosing a home.  If you are considering selling during this time, be sure that you have taken care of all of the little details in preparing your home to show and that you are priced right to attract the most attention during the marketing process.

Find out what's going on in your West Bank neighborhood with this week's free market snapshot.

Average days on market for homes sold during January was 98.  Average days on market for active listings is 147, so I would expect to see that number rise during the year as some of the older inventory is cleared out.

Gretna LA 70053 | Average Single Family Home Prices | January 2010

The average single family home sale price jumped to $191,000 in January due to a couple of sales in the Garden Park neighborhood.  Remember, there were only 3 sales, so the numbers can be greatly skewed by just one or two of them.  It will take at least until March or April before we have a good feel for the trends for this year.

FHA financing made up 2 of the 3 Gretna homes sales in January.  Because of the tightening of credit restrictions across the board, I anticipate that will continue to be the case through 2010.

All data is provided by GSREIN and is deemed reliable, but not guaranteed

Related Articles:

Home buying tips
Home selling tips

West Bank Real Estate Market Statistics

For more information about home buying or selling on the West Bank of New Orleans, or relocating to or from NAS JRB New Orleans, please contact the West Bank Living Team. It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!

Data originally published at West Bank Living

Current real estate activity in Terrytown and Gretna:

165 homes are for sale in the 70056 zip code

• High list price $899,000
• Low list price $24,900
• Average list price $206,892
• Median list price $169,900

37 homes are under contract or pending sale, priced from $53,000 to $425,000

Based on December sales (14), there is a 8.5 month supply of homes for sale in Terrytown and Gretna

Terrytown and Gretna LA 70056 | Number of Homes Sold | December 2009

Good news for Terrytown and Gretna! The number of homes sold in the city increased from 2008 to 2009. Granted, it’s a small increase, but it’s a step towards stemming the tide of dropping sales in the area.

In 2009, sales in Gretna and Terrytown made up 15.7% of the West Bank real estate market, with 224 of the 1,429 homes sold in the area.

How Does Terrytown compare to the rest of the West Bank?

The average days on market for homes sold in rose again in 2009, ending the year at 96. Remember, this is just an average. The Terrytown/Gretna home on the market the longest in 2009 sold in 491 days – that’s over one year on the market - while the fastest sale was in only 1 day.

Terrytown and Gretna LA 70056 | Average Home Sale Prices | December 2009

The increase in the number of sales is offset by the drop in prices with another year of falling prices in Terrytown. The bright side (hey, there’s always a bright side) is that prices are on par with pre-Katrina values in the area.

Home sale prices in Terrytown continue to be just above the West Bank average, but my concern is the average listing prices and how sellers are deciding on a number. Your homes value depends on how your particular neighborhood is performing and should be priced accordingly. Find out what's going on in your West Bank neighborhood with this week's free market snapshot.

Other items of note:

• FHA continues to be the most popular financing choice in Terrytown/Gretna, with conventional financing coming in 2nd
• 44% of sellers provided some type of closing cost assistance to the buyers, so not only are prices down, but there are a significant number of sellers offering concessions to get their homes sold. Be sure that your agent has provided you with the details of home sales in your neighborhood to know the whole story.

All data is provided by GSREIN and is deemed reliable, but not guaranteed

Related Reading:

• Terrytown and Gretna homes for sale
• New Orleans West Bank homes for sale
• Home buying tips
• Home selling tips

For more information about home buying or selling in Terrytown and Gretna or a relocation to or from NAS JRB New Orleans, please contact the West Bank Living Team. It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!

Current real estate activity in the City of Gretna:

57 homes are for sale in the 70053 zip code

• High list price $409,000
• Low list price $29,900
• Average list price $149,500
• Median list price $139,900

8 homes are under contract or pending sale, priced from $49,900 to $255,000

Based on December sales (4), there is a 14.25 month supply of homes for sale in Gretna

Gretna LA 70053 | Number of Homes Sold | December 2009

Good news for Gretna!  The number of homes sold in the city increased from 2008 to 2009.  Granted, it’s a small increase, but not many communities can make the same claim.

In 2009, sales in Gretna made up 5.5% of the West Bank real estate market, with 78 of the 1,429 homes sold in the area. 

How Does Gretna compare to the rest of the West Bank?

The average days on market for homes sold in Gretna dropped in 2009, after taking a huge jump in 2008.  The average of 81 days is the best on the West Bank, equaled only by Harvey. 

Remember, this is just an average.  The home on the market the longest in 2009 sold in 362 days – almost an entire year, while the fastest sale was in only 1 day.

Gretna LA 70053 | Average Home Sale Prices | December 2009

The good news about sales in Gretna, unfortunately, doesn’t extend to prices.  After recording one of the only increases in 2008, there was a 4.7% decline in average home prices in 2009, dropping to $138,848.

Prices in Gretna are still below the West Bank average, presenting a wonderful opportunity for buyers who are trying to find a home before the tax credit expires.  Sellers, depending on when you purchased your home, may not be in a good position right now.  Your homes value still depends on how your particular neighborhood is performing.  Find out what's going on in your West Bank neighborhood with this week's free market snapshot.

Other items of note:

• FHA continues to be the most popular financing choice in Gretna, with conventional financing coming in 2nd
• 38% of seller provided some type of closing cost assistance to the buyers – tracking right along with the FHA financing choice made by buyers with smaller down payments and cash reserves

All data is provided by GSREIN and is deemed reliable, but not guaranteed

Related Reading:

• Gretna LA homes for sale
• New Orleans West Bank homes for sale
• Home buying tips
• Home selling tips

For more information about home buying or selling in Gretna or a relocation to or from NAS JRB New Orleans, please contact the West Bank Living Team.  It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!

It’s funny what you get used to when you grow up here.  It’s not until we have visitors that I’m reminded not everyone buries their dead above ground.  The vaults in the Hook and Ladder Cemetery take up an entire block, bounded by Newton, Tenth, Eleventh and Lafayette Streets in the City of Gretna. 

From the City of Gretna Website:

The Hook and Ladder Cemetery was established around 1859 and contains monuments of interest, including the those of John Ehret, the first mayor of Gretna and Louis Oscar Fried, the first casualty of the skirmish between the United States and Mexico.

Tombs in the cemetery range from very modest to much more ornate sites finished with granite or marble.  Catholic families in the New Orleans area usually spend some time at the cemetery the last week of October, cleaning, repainting and polishing up in preparation of laying fresh flowers on All Saint’s Day (November 1st).  Catholicism is so ingrained in the city’s culture that even non-Catholics follow many of the traditions, so the grounds and vaults usually look their best at that time.

If you decide to visit one of the local cemeteries, please be respectful and remember that this is the final resting place for someone's loved one.

For information about living on the West Bank of New Orleans, feel free to contact the West Bank Living Team. We live, work and play here and would love to welcome you to our community.

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There are so many places along the West Bank of the Mississippi River with a wonderful view of both the river and the New Orleans city skyline.  There’s a bike path on the levee in Algiers Point that starts at the ferry landing and continues into Gretna, where this photo was taken. 

On weekdays, there are very few people wandering around here, so it’s a perfect spot to stop and enjoy the view from.   Just park along the River Road (1st Street) and walk right up the steps near the amphitheater.  Bring your camera, since there is sure to be something to take a picture of, whether it’s the bridge, the water, a passing ship or even just a park bench.

For information about living on the West Bank of New Orleans, feel free to contact the West Bank Living Team. We live, work and play here and would love to welcome you to our community.

Search New Orleans West Bank homes for sale

Current real estate activity in the City of Gretna:

57 homes are for sale in Gretna

• High list price $409,000
• Low list price $34,900
• Average list price $149,947
• Median list price $139,900

7 homes are pending sale or under contract, listed from $49,900 to $255,000

Based on November sales (11), there is a 5.18 month supply of homes for sale in Gretna

Gretna LA 70053 | Number of Homes Sold | November 2009

Great news for Gretna…home sales have now exceeded the number of sales in 2008, with another month of closings to go!   More good news is that the inventory of 5.18 months shows a balanced real estate market for the city that has worked so hard to improve the quality of life for its residents with community events that surpass those of most West Bank neighborhoods.

Gretna LA 70053 | Average Home Sale Prices | November 2009

The opposite end of the spectrum is the average housing price in Gretna.  It has fallen off almost 5% from the 2008 average – still not as dramatic a drop as other parts of the West Bank.  Remember, this is an average of all single family home sales in Gretna. 

Want to keep up with active listings and sales in your area?  Find out what's going on in your West Bank neighborhood with this week's free market snapshot.

All data is provided by GSREIN and is deemed reliable, but not guaranteed

Gretna LA Homes for Sale
New Orleans West Bank Homes for Sale

Home buying tips
Home selling tips

For more information about home buying or selling in the City of Gretna, please contact the West Bank Living Team.  It would be our pleasure to assist you with any of your real estate needs and have a little fun while doing it!

Current real estate activity in Terrytown and Gretna LA 70056:

161 homes are for sale

• High list price $899,000
• Low list price $24,900
• Average list price $210,333
• Median list price $169,900

39 homes are under contract or pending sales, priced from $53,000 to $425,000

Based on November sales (30), there is a 18.6 month supply of homes for sale in the area

Terrytown and Gretna | Number of Homes Sold | November 2009

The last couple of months have seen a substantial increase in the number of homes sold in Terrytown and Gretna, bringing the year to date number of sales to 210.  Looking at the average number of homes sold each month in 2009, I would project that this year will surpass 2008 – one of the only areas on the West Bank that will record an increase in sales.

Most buyers (45.7%) are using FHA financing to purchase Terrytown homes, which means they are not purchasing homes that require substantial repairs.  This is important for sellers to know when deciding what they are willing to do to prepare their homes for sale.

Terrytown and Gretna | Average Home Sale Prices | November 2009

Although the number of sales in the 70056 zip code is increasing, the average sale prices are about 5% below those of 2008.  The good news is that prices are above those in 2005, our last really “normal” market on the West Bank.  As is the case in every area, some communities are performing better/worse than others.

Find out what's going on in your West Bank neighborhood with this week's free market snapshot.

All data is provided by GSREIN and is deemed reliable, not guaranteed

Terrytown and Gretna Homes for Sale
New Orleans West Bank Homes for Sale

Home buying tips
Home selling tips

For more information about buying or selling a West Bank home, please contact the West Bank Living Team.  It would be our pleasure to assist you with any of your real estate needs, and have a little fun while doing it!

Current real estate activity in Terrytown and Gretna LA:

170 homes for sale

• High list price $999,000
• Low list price $24,900
• Average list price $217,709
• Median list price $169,700

48 homes are under contract or pending sale, priced from $35,900 to $400,000

Based on the number of homes sold in October (26), there is a 6.5 month supply of homes for sale in the area (a fairly balanced real estate market)

Terrytown and Gretna LA 70056 | Number of Homes Sold | October 2009

October marked the most active month of the year in Terrytown and Gretna home sales.  I’m sure that much of this increase was due to the uncertainty about whether or not the first time home buyer’s tax credit would be extended (which it has).  First Time Home Buyer Tax Credit Extended and Expanded

Year to date, there have been 180 homes sold in the 70056 zip code, compared to 190 at the same time last year.  It seems that while the number of sales has been dropping for the last couple of years, we are finally beginning to see some stabilization in the market.

Terrytown and Gretna LA 70056 | Average Home Sale Price | October 2009

The 2009 average home sale price at the end of October was $158,775, a decrease of 6% from the 2008 average, but slightly above the 2005 average.  Since 2005 was the last market that was not impacted by either Katrina or the economy, it’s a good barometer for “normal” and normal has been hard to find lately.

Unless you purchased your home in the last couple of years, it’s a good bet that you have not lost any of the equity in your home.  Find out what's going on in your West Bank neighborhood with this week's free market snapshot.

All information is provided by GSREIN and is deemed reliable, but not guaranteed

You might also be interested in:
Terrytown and Gretna homes for sale
New Orleans West Bank Homes for Sale

Home Buying Tips
Home Selling Tips

The West Bank Living Team would be more than happy to assist you with any of your real estate needs.  Feel free to call us or drop us a line with any of your questions or concerns.

Current real estate activity in Gretna LA 70053:

51 homes are for sale

• High list price $275,500
• Low list price $42,900
• Average list price $147,731
• Median list price $131,000

12 homes are under contract or pending sale, priced from $52,000 to $240,000

Based on the number of homes sold in October (8), there is a 6.38 month supply of homes for sale in Gretna, which is just about a balanced real estate market.

Gretna LA 70053 | Number of Homes Sold | October 2009

The year to date number of homes sold in Gretna as of October 2009 is 62, compared to 65 at the same time last year. Gretna is one of the only markets on the West Bank of New Orleans that has not had a dramatic drop in the number of home sales from 2008 to 2009.

Given the recent amount of activity in the community, I would anticipate that we will equal or exceed the number of homes sold in 2008. While it is not a return to pre-Katrina levels, it appears that the market is balancing out supply and demand.

Gretna LA 70053 | Average Home Sale Prices | October 2009

The average price of homes sold in the City of Gretna in 2009 is now at $137,680, compared to $145,701 in 2008 (a decrease of 5.5%). Again, this is a better performance than many other areas of the West Bank, where some neighborhoods have experienced value drops of more than 20%.

All data provided by GSREIN and is deemed reliable, but not guaranteed.

You may also be interested in:

Gretna LA homes for Sale
New Orleans West Bank Homes for Sale

Home Buying Tips
Home Selling Tips

Have a real estate question? The West Bank Living Team has answers. Feel free to drop us a line or give us a call or visit West Bank Living.

I’m not talking about painting your house.  I’m talking about one of the newest hot spots for West Bank ladies (and a few gentlemen too) to get together for a few hours and share food, drinks and definitely a few laughs. 

Painting With A Twist recently opened in Gretna LA, just a couple of blocks off the West Bank Expressway.  One of my friends decided that painting and drinking would be a fun way to spend an evening, so we rounded up a group and headed over there last night.

We all arrived toting trays of goodies to share, bottles of wine and even a few daiquiris.  I figured the drinking was so that we wouldn’t cry if we hated our pictures.  The entire premise is that anyone can be at least a novice artist.  Bring your own snacks, drinks and $35 and Painting With a Twist provides the bottle openers, the cups, the space, the canvas, the paints, the brushes and the most patient instructors you’ll ever meet. 

Each night of the week, there are open classes that anyone can attend.  2 hours classes are $35 and 3 hour classes are $45.  Walk ins are welcome, but it’s preferred that you either call ahead or sign up online, since there are a minimum of 4 people to hold a class.  A different picture is featured each night (see the schedule on their website) for the open classes or you can book a private party for 15 or more people and choose your own painting from a large gallery selection.

If you have company coming to visit over the holidays, wouldn’t this be a fantastic way to get out of the house and spend an evening as a group or a family?

Step by step, we were led through the process of turning a blank canvas into our own little piece of art.  Rule number one from our fabulous teacher, Jason, was….relax!  It’s supposed to be fun, not stressful and a room full of type A, perfectionist personalities promptly did just that.  Music played in the background as we made those first hesitant strokes onto the canvas.  I don’t know why we were worried to begin with.  If we ran into a little trouble, Jason and another of the resident artists were on hand to help us out, encouraging us to put our own interpretation on the guide pictures we were trying to recreate and giving us how-to tips to fix our little mistakes along the way.

Now, I’m not creative or the least bit artistic by any stretch of the imagination.  I can’t even draw a straight line, much less paint a picture, but I’m pretty proud of my first attempt and figure it’s at least a step up from what my mom used to hang on the refrigerator.

Painting With A Twist is located at 1900 Lafayette Street, in the Village Shopping Center in Gretna LA.  Visit them on the web at www.paintingwithatwist.com or call (504) 361-0574.