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

Developed in the 1980s, the Park Place subdivision is located in Jefferson Parish, in Gretna, Louisiana.

A collection of condos and single family homes make up this community of well kept residences. More than 20 years after the first owner moved in, the neighborhood has matured, with many homes boasting mature shade trees and some beautiful landscaping. Katrina did quite a bit of wind damage in the area, so many of the homes have newer roofs and updates that continue to keep the houses in demand.

Map of Park Place

It’s easy to get to anywhere on the West Bank from Park Place, but you don’t have to go far to find shopping, dining, golf, parks, playgrounds and more. Downtown New Orleans is only minutes away, with Terry Parkway bringing you right onto the Crescent City Connection.

What are condo prices in Park Place?

Condos provide a very affordable way to own your home and 1 and 2 bedroom Park Place units are typically priced below $100,000, while 3 bedrooms units are priced in the low $100s. Monthly dues vary depending on the size of the unit, but most are less than $200 per month.

What are home prices in Park Place?

Homes that have not been updated or renovated are priced in the low $100s, while those that are in excellent condition are priced in the mid to upper $100s.

Park Place Video Tour

Other facts about Park Place in Gretna LA

• Condo sizes range from 1 to 3 bedrooms, with square footage ranging from around 750 square feet to over 1,000 square feet per unit
• Home sizes range from 3 to 4 bedrooms, with square footage ranging from around 1,450 square feet to over 2,400 square feet of living area
• There is a home owner association, but membership and dues are not required. Of course, it’s always a good idea to get involved in your community and get to know your neighbors!
• Park Place is located in flood zone AE, which means lenders will require you to carry flood insurance

Community information

Jefferson Parish Public Schools

Jefferson Parish Parochial Schools

Jefferson Parish official website

For more information about buying or selling a home in Terrytown or Gretna, please contact the West Bank Living Team.  It would be our pleasure to assist you with any of your real estate needs.

Picture yourself relaxing under the shade of a cypress tree, sipping iced tea on the front porch of this beautiful home for sale in the historic McDonoghville neighborhood in Gretna, LA.

Only 5 years old, the architecture is reminiscent of old New Orleans, while the interior of this 3 bedroom, 2 bath is filled with all of the modern conveniences that today’s home buyers are looking for.

NOW OFFERED AT $259,000

10 foot ceilings throughout give an open feel to the entire home. The side hall entry grabs your attention as soon as you open the front door, displaying the gorgeous scored and stained concrete floors that tie every room together. Special touches like crown moldings, 4” baseboards, recessed and pendant lighting add a little luxury to your life.

The open kitchen/dining/living area makes entertaining a breeze and a side door to the patio gives you room to spread the party right into the fenced yard. Beautiful granite kitchen counters meld right into the wraparound breakfast bar and the walk in pantry provides plenty of storage space in addition to the cherry finished cabinets. Under cabinet lighting brightens up the work space, while windows galore let the sun shine in.

The master suite is located at the rear of the house, giving you all of the privacy you could hope for along with french doors leading to the back yard. Custom finished walk in closet, garden tub and separate shower finish out the perfect place to lay your head at the end of a long day.

If you can’t see the video above, click here.

More about 1312 Jefferson Street

For more information or to schedule a private showing of 1312 Jefferson Street, please contact the West Bank Living Team.

Current real estate activity in Terrytown and Gretna LA:

157 homes are currently listed for sale

• High list price $850,000
• Low list price $24,900
• Average list price $211,790
• Median list price $173,500

61 homes are pending sale or under contract, priced from $32,400 to $329,000 Based on the number April sales (23), there is a 6.8 month supply of homes for sale in Terrytown and Gretna

Terrytown/Gretna LA | Number of Single Family Home Sales | April 2010

Home sales in Terrytown and Gretna continue to climb each month, ending April with a total of 74 homes sold year to date. At the same time in 2009, there were 63 home sales, so this is an increase of 17% in the number of homes sold in the 70056 zip code. With 61 homes under contract, I expect that number to continue to climb in May as the first buyers taking advantage of the tax credit get to the closing table.

Days on market has dropped fairly significantly from 2009 to 2010, ending April at an average of 74 days. However, the average active listing has already been on the market for 135 days, so look for an increase in this number as the year goes on.

Terrytown/Gretna LA | Average Single Family Home Prices | April 2010

While the number of sales has been increasing, the average prices that buyers are paying dropped again in April. It’s not all bad news for home sellers though, because year to date prices are just a smidge above the 2009 average and holding steady above the 2005 averages. Considering the losses that owners are taking in some other areas of the country, this is a pretty stable market.

More about April home sales in Terrytown and Gretna

• 17% of April sales were of bank owned or foreclosure properties
• 22% of home sellers provided closing cost assistance to the purchasers
• 39% of home sellers provided a home warranty to the buyers
• FHA continues to be the loan of choice for the majority of home buyers, with cash running second. The majority of the cash sales were of bank owned properties or those that were in poor condition, making them appealing to investors

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

Related Articles:

• Home buying tips
• Home selling tips
• Terrytown and Gretna Homes for Sale
• 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!

Originally published at West Bank Living

Current real estate activity in Gretna LA:

51 homes are currently for sale

• High list price $409,000
• Low list price $44,900
• Average list price $153,500
• Median list price $134,000

19 homes are under contract or pending sale, priced from $37,500 to $275,500 Based on the number of April sales (6), there is a 8.5 month supply of homes for sale in Gretna

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

Year to date, there have been 21 single family homes sold in the City of Gretna – the same number as of April 2009. Pending sales are just slightly higher than last month, but that was to be expected due to (1) spring is a more active selling season and (2) buyers rushing to get under contract before April 30th and the end of the tax credit for first time home buyers.

Days on market for homes sold in 2010 is now at 89 days. Considering that the average active listing has been on the market for 132 days and the average under contract listing has been on the market for 167 days, look for this number to continue to go up as the year progresses.

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

Year to date, the average Gretna home sold for $139,475, a very slight increase from the 2009 average. It’s important to remember that the extremely low sales price average in February skews the numbers slightly. Get this week’s free home value report for a quick snapshot of listings and sales in your West Bank neighborhood.

More details about April home sales in Gretna:

• No bank owned or foreclosed properties were sold in April (3 are currently under contract)
• 33% of home sellers provided a home warranty to the buyers
• 17% of home sellers paid some or all of the purchaser closing costs
• FHA remains the financing option chosen by the majority of Gretna home buyers

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

Related Articles:

• Home buying tips
• Home selling tips
• Gretna Homes for Sale
• 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!

Originally published at West Bank Living

Current real estate activity in Terrytown and Gretna LA 70056:

168 single family homes are for sale

• High list price $895,000
• Low list price $24,900
• Average list price $211,184
• Median list price $164,950

51 homes are under contract or pending sale, priced from $55,000 to $385,000

Based on the number of sales in March (18), there is a 9.3 month supply of homes for sale in Terrytown and Gretna

Gretna and Terrytown LA 70056 | Number of Home Sales | March 2010

Year to date, there have been 51 single family home sales in the 70056 zip code, compared to 49 at the same time last year.  Inventory (the number of homes listed) is remaining stable, while pending sales have taken a jump.  If I had to guess, I would say that the increase in activity is due to (1) the normal increase in sales in the spring and (2) the pending expiration of the first time home buyer’s tax credit.  We’ll know this for sure over the next couple of months as we continue to track the sales in the Gretna and Terrytown communities.

Days on market has dropped to 81 for homes sold in 2010.  What is interesting is that the average active listing has been on the market for 147 days, while the average home under contract has been on the market for 69 days.  This should be an indicator to some sellers that a price adjustment may be in order to capture the buyers that are searching for a new home.  The potential for increases in interest rates can have the effect of depressing prices further since it reduces the amount that purchasers are qualified to borrow.  Because we’ve seen rates begin to creep up ever so slightly recently, being priced well is critical.

Get this week's free Terrytown LA home value report

Gretna and Terrytown LA 70056 | Average Home Sale Prices | March 2010

Home prices in Terrytown and Gretna are averaging $162,983 so far this year, a 2.6% increase over the 2009 average. A quick glance at the pending sales tells me that we should expect that average to remain pretty stable when April sales are added.

More about March 2010 home sales in Gretna and Terrytown:

• 22% (4) of the sales were bank owned or foreclosure properties
• 39% (7) of sellers paid some type of closing cost assistance to the buyers
• 56% (10) of sellers paid for a home warranty for the purchasers
• FHA remains the most popular loan choice of buyers, so sellers should be sure that their home will meet the criteria for this loan type

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

Related Articles:

• Home buying tips
• Home selling tips
• Terrytown and Gretna Homes for Sale
• 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!

Originally published at West Bank Living

Current real estate activity in Gretna LA 70053:

50 single family homes are for sale

• High list price $409,000
• Low list price $45,000
• Average list price $155,234
• Median list price $137,450

17 homes are under contract or pending sale, priced from $37,500 to $274,000

Based on the number of homes sold in March (9), there is a 5.6 month supply of homes for sale in Gretna.

Gretna LA 70053 | Number of Homes Sold | March 2010

After a slow start to the year, home sales are picking up in the City of Gretna LA. Since last month, the inventory has declined and the number of pending sales has increased. This is good news for home sellers and a wake up call for potential buyers that the market may be making a slight shift in the area. How much of this change can be attributed to the first time home buyer’s tax credit that expires on April 30th will remain to be seen.

Year to date, there have been 15 single family home sales in Gretna, compared to 12 at the same time last year. Days on market is up slightly, to 92 days. Since the average active listing has been on the market for 147 days already, we can expect that number to rise as some of the those homes are sold.

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

Prices rebounded in March as well, after a dismal February where only homes in poor condition were sold. Year to date, the average home sale price in Gretna is $132,333, a decline of 4.7% from the 2009 average. Of course, this average is still severely impacted by February, so it will take time to be able to get a true view of average prices.

Remember that these number are for the entire zip code, and your neighborhood may be performing better or worse than the average.  Get a free home value report for your West Bank neighborhood

More about March 2010 home sales in Gretna:

• 2 homes were in Excellent condition, 5 homes were in Very Good condition and 1 home was in Fair condition. The remaining home did not have a condition indicator.
• 1 of the homes sold was a bank owned/foreclosure property
• 22% (2) of the sellers provided a home warranty to the buyer
• 56% (5) of the sellers paid for at least a portion of the purchaser’s closing costs
• FHA continues to be the most popular financing choice of home buyers in Gretna

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

Related Articles:

• Home buying tips
• Home selling tips
• Gretna Homes for Sale
• 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!

Originally published at West Bank Living

Current real estate activity in Terrytown and Gretna LA 70056:

172 homes are for sale

• High list price $1,200,000
• Low list price $24,900
• Average list price $215,009
• Median list price $169,000

36 homes are under contract or pending sale, priced from $70,312 to $449,900

Based on the number of Terrytown/Gretna homes sold in February (13), there is a 13.2 month supply of homes for sale in the community

Terrytown and Gretna LA 70056 | Number of Homes Sold | February 2010

Although the number of home sold dropped from January to February, year to date there have been 33 single family home sales, up from 28 at the end of February 2009. With 36 pending sales, it looks like the area is off to a good start in 2010. It remains to be seen if the volume will be sustainable after the first time home buyer tax credit ends on April 30th, so we will continue to track activity in the community. 

Average days on market for homes sold in 2010 is now at 80. As older inventory is cleared out, I expect this number to go up since the average days on market for active listings is currently 143 days.

Terrytown and Gretna LA 70056 | Average Single Family Home Sale Prices | February 2010

Prices took a jump in February, bringing the year to date average to $161,852. This is a slight increase over the 2009 average. Again, we will have to track ongoing activity to determine if this is a true increase in sale prices.

Some more facts about Terrytown and Gretna home sales in February:

• Condition of homes was varied, with 5 homes sold in Excellent condition, 3 homes in Average condition, 3 homes in Fair condition and 2 homes in Very Good condition
• 39% of the homes sold were bank owned or foreclosure properties
• 31% of sellers paid for a home warranty for the buyers
• 23% of sellers provided some type of closing cost assistance to the purchasers
• FHA remains the most popular choice in home purchase financing

Related Articles:

Home buying tips

Home selling tips

Homes for sale in Terrytown and Gretna LA

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!

Originally published at West Bank Living

Current real estate activity in the City of Gretna:

61 single family homes are for sale

• High list price $409,000
• Low list price $45,000
• Average list price $158,928
• Median list price $145,000

10 homes are under contract or pending sale, priced from $37,500 to $165,000

Based on February sales (3), there is a 20 month supply of homes for sale in Gretna

Gretna LA 70053 | Number of Homes Sold | February 2010

The 3 Gretna home sales that were recorded in February were all properties in need of major repairs, pretty much the type of listings that only attract investors with cash because the condition of the homes are so poor. Otherwise, the city is on target with 6 sales year to date, compared to 7 at the same time last year.

Days on market dropped to 72, but again, remember that these investor properties sold faster than the typical home in the area. It may take a couple of months for the averages to balance out and give a truer picture of the market, especially given that the average days on market for active listings is currently at 143.

Gretna LA 70053 | Average Single Family Home Sale Price | February 2010

The average sale price took a big hit in February due to the condition of the properties sold. This should not be considered a real average for the area. Average sale prices will balance out over the year as more owner occupant homes are sold.

If you are interested in receiving information on current listings and sales in your neighborhood, we provide free online reports of real estate activity in your West Bank neighborhood.

Related Articles:

Home buying tips

Home selling tips

Homes for sale in Gretna LA

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!

Originally published at West Bank Living

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!