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

Current real estate activity in Harvey LA:All data supplied by GSREIN and is deemed reliable, but not guaranteed 175 actively listed homes for sale in Harvey

• High list price $535,000
• Low list price $30,000
• Average list price $181,317
• Median list price $149,900

72 homes are pending sale or under contract, priced from $32,000 to $369,000 Based on the number of homes sold in April (16), there is a 10.9 month supply of homes for sale in Harvey

Harvey LA 70058 | Number of Single Family Homes Sold | April 2010

Year to date, there have been a total of 61 single family homes sold in Harvey, compared to 58 at the same time last year. With 72 homes pending sale, look for a big jump in the year to date numbers over the next couple of months. More than likely this is due to the rush by buyers to take advantage of the first time buyer tax credit that required an accepted contract be executed by April 30th and closed by June 30th. Getting a handle on the projections for the rest of the year will be a little more difficult until after July 1st.

Average days on market in Harvey:

• Active listings = 99 days
• Under contract listings = 96

Harvey LA 70058 | Average Single Family Home Prices | April 2010

The average Harvey home sold in April went for $155,681, bringing the year to date average to $141,259. The represents a decrease of just over 14% in average home prices in the area. Remember, these are just averages and prices vary from neighborhood to neighborhood.

Get this week's free Harvey LA home value report.

More about Harvey homes sales in April:

• 19% of the homes sold were foreclosures or bank owned properties
• 37.5% of home sellers provided a home warranty to the buyers
• 44% of sellers provided some type of closing cost assistance to the purchasers

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

Current real estate activity in Harvey LA 70058:

160 single family homes are for sale

• High list price $535,000
• Low list price $37,500
• Average list price $182,886
• Median list price $146,000

67 homes are under contract or pending sale, priced from $49,900 to $519,000

Based on the number of homes sold in March (17), there is a 9.4 month supply of homes for sale in Harvey LA

Harvey LA 70058 | Number of Homes Sold | March 2010

So far in 2010, there have been 45 successful single family homes sales, compared to 35 at the same time last year and 72 during the first quarter of 2008.  This is a 29% increase in the number of homes sold in Harvey when comparing 2009 to 2010.  Pricing remains the deciding factor for many buyers, so it is important for sellers to know the local market and price their homes aggressively.

Get this week's free Harvey LA home value report

The average amount of time it is taking a home in Harvey to sell in 2010 is currently 77 days.  However, don’t count on this number when selling your home since there are many factors that influence it.  The average active listing has already been on the market for 105 days and the average home under contract was on the market for 88 days, so look for this number to increase as the year progresses. 

One factor that is keeping the days on market down is the sale of bank owned or foreclosure properties – they are selling in an average of 53 days.

Harvey LA 70058 | Average Home Sale Prices | March 2010

It is expected that average prices will vary from month to month since they depend on which homes are sold in a 30 day period.  However, it appears that bank owned properties are putting downward pressure on prices in the area, dropping the 2010 average to $136,132.

Why the drop?  The average bank owned home sold in 2010 for $92,967, while privately owned homes are selling for an average of $159,923.  Foreclosures have made up 33% of the 2010 home sales in Harvey.  Currently there are 16 active foreclosure listings in Harvey, priced at an average of $105,356 and 17 pending sales of bank owned homes priced at an average of $103,012.  Obviously, as these sales close they will have a negative impact on values in the community.

It’s important to know about foreclosures in your neighborhood if you are selling (or thinking about selling) your home.  Be sure that an experienced West Bank REALTOR provides you with the details of your competition and comparables when setting your listing price.

More about March 2010 home sales in Harvey LA:

• 29% of the sales were of bank owned/foreclosure properties
• 29% of sellers paid a portion of the purchaser’s closing costs
• 47% of sellers provided a home warranty to the buyers
• FHA remains the financing choice of the majority of purchasers

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

Related Articles:

• Home buying tips
• Home selling tips
• Harvey LA 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

Current real estate activity in Marrero LA 70072:

259 single family homes are for sale

• High list price $2,300,000
• Low list price $24,500
• Average list price $163,682
• Median list price $139,900

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

Based on February sales (14), there is a 18.5 month supply of homes for sale in the area

Marrero LA 70072 | Number of Homes Sold | February 2010

As of February 2010, Marrero has seen 24 successful single family home sales, compared to 59 at the
same time last year. This is a decrease of 59% in the number of home sales when comparing year to year. However, with 64 homes under contract at this time, I would expect that gap to narrow over the next couple of months as first
time buyers race the clock against the expiration of the tax credit.

Get a free, up to date report of listings and home sales in your New Orleans West Bank neighborhood

Average days on market for homes sold in February was 97, while the average days on market for active listings is 118.

Marrero LA 70072 | Average Single Family Home Sale Prices | February 2010

The average February sale was $112,910, down from January and bringing the year to date average to $123,971. It appears that there may be an input error resulting in the under reporting of at least one sale, so this average will more than likely go up when the appropriate corrections are made.

More details about February homes sales in Marrero:

• FHA remains the most popular financing choice of buyers
• 29% of the sales were of bank owned or foreclosed properties
• 21% of sellers paid for a home warranty for the buyers
• 21% of sellers provided some type of closing cost assistance to the purchasers

Related Articles:

Home buying tips
Home selling tips
Find Marrero LA 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!

Current real estate activity in Harvey LA 70058:

152 single family homes are currently for sale

• High list price $539,000
• Low list price $500 (HUD property with pre-existing liens on it)
• Average list price $180,946
• Median list price $148,000

52 homes are under contract or pending sale, priced from $50,301 to $339,000

Based on the number of homes sold in February (13), there is a 11.7 month supply of homes for sale in the area

Harvey LA 70058 | Number of Homes Sold | February 2010

Year to date, there have been 28 single family homes sold in Harvey, compared to 20 at the same time last year (an increase of 40%).

Average days on market for homes sold in February was 38, bringing the year to date average to 64 days. Compare this to the average days on market for active listings of 115 and I expect that we will see this number rise over the coming months as homes that have been on the market longer begin to sell.

Harvey LA 70058 | Average Single Family Home Prices | February 2010

The average Harvey home price took a jump in February, bringing the year to date average to $142,100. Part of the drop in prices when compared to 2009 can be attributed to the fact that 25% of the sales so far this year were of properties in Fair or Poor condition. Homes in excellent condition are continuing to command higher prices.

Get up to date information on listings and sales in your West Bank neighborhood

Some more details about February 2010 home sales in Harvey:

• 6 homes were in Excellent condition, 3 homes in Average condition, 2 homes in Fair condition, 1 home in Very Good condition and 1 home in Poor condition
• 46% of the homes sold were bank owned or foreclosure properties
• 31% of sellers paid for a home warranty for the buyers
• 38% of sellers provided some type of closing cost assistance to the purchasers

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

Related Articles:

Home buying tips

Home selling tips

Homes for sale in Harvey 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 Harvey LA:

149 single family homes are for sale

• High list price $549,000
• Low list price $500
• Average list price $175,505
• Median list price $145,000

53 homes are under contract or pending sale, priced from $54,500 to $419,000

Based on the number of homes sold in January (13), there is an 11.5 month supply of homes for sale in Harvey

Harvey LA 70058 | Number of Single Family Home Sales | January 2010

13 homes were sold in Harvey LA in January 2010, compared to 8 at the same time last year, continuing the trend for Harvey as one of the most popular areas on the West Bank.

At the same time, the average days on market for homes sold in January increased to 91.  The average days on market for active listings is now at 112 days and the average for pending sales is 139 days.  After a slight dip in 2009, it looks like it may take a little longer to get homes sold in the area.

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

Harvey LA 70058 | Average Single Family Home Prices | January 2010

The average sale price for a single family home in Harvey ended January at $144,329, down from the both the December 2009 average and the overall 2009 average.  Part of this drop can be attributed to 4 low end (under $65,000) sales, which accounted for 31% of the January activity.

Some more details about January sales in Harvey

• 23% of the sales were bank owned or foreclosure properties
• 23% of sellers provided some type of closing cost assistance to the purchasers
• 31% of sellers paid for a home warranty for the buyers

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

Related Articles:

Home buying tips
Home selling tips

Find Harvey LA 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!

Find out more about the West Bank real estate market at West Bank Living

Current real estate activity in Harvey:

156 homes are for sale in the 70058 zip code

• High list price $549,000
• Low list price $500
• Average list price $173,337
• Median list price $147,450

40 homes are under contract or pending sale, priced from $54,500 to $379,000

Based on December sales (16), there is a 9.75 month supply of homes for sale in Harvey

Harvey LA 70058 | Number of Homes Sold | December 2009

Sales dropped off again in December, bringing the total number of Harvey LA homes sold in 2009 to 220.  This is a decline of 14.4% from 2008 sales in the area.

How does Harvey 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 81. Remember, this is just an average.  The Harvey home on the market the longest in 2009 sold in 208 days, while the fastest sale was in only 1 day.

Harvey LA 70058 | Average Home Sale Prices | December 2009

Here is the good news:  the decrease in the number of sales is offset by one of the only price increases on the West Bank.  The average Harvey home sale price went up by 6.5% from 2008 to 2009 – the largest increase of any of the West Bank communities from Algiers to Avondale.

Reflecting it’s position as one of the most popular areas on the West Bank, home sale prices in Harvey continue to run higher than the West Bank average, and it looks like the average seller is pricing accordingly.  In order to be competitive in today’s real estate market, your homes listing price 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 Harvey,  with conventional financing coming in a distant second.
• 42% of sellers provided some type of closing cost assistance to the buyers – that’s 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 when setting your selling price.
  

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

Related Reading:

• Harvey LA homes for sale
• New Orleans West Bank homes for sale
• Home buying tips
• Home selling tips
• West Bank Real Estate Market Reports

For more information about home buying or selling in Harvey Louisiana 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!

Current real estate activity in Harvey LA:

156 homes are for sale

• High list price $549,000
• Low list price $500**
• Average list price $174,018
• Median list price $148,750

**The property listed for $500 is a HUD property with other existing liens that would have to be cleared to obtain a clear title to the property

42 homes are under contract or pending sale, priced from $54,500 to $389,000

Based on the November sales (19), there is a 8.2 month supply of homes for sale in Harvey

Harvey LA | Number of Homes Sold | November 2009

After a big spike in October, home sales in Harvey dropped to 19 homes sold in November, bringing the year to date total to 202. Compared to 238 at the same time last year, this is a decrease of just over 15% in the number of homes being sold in the area.

Harvey LA | Average Home Sale Prices | November 2009

While the number of sales may be down, Harvey is recording the largest increase in prices on the West Bank. The average home sale price of $164,267 is an increase of 6.5% over the 2008 average and even surpasses the 2005 average, which was our last really “normal” real estate market in the metro area.

Not every neighborhood has seen an increase in value, but this month’s spot to watch is Spanish Oaks, where we’ve seen surprisingly higher than normal prices in some recent sales.

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

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

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

Home buying tips
Home selling tips

For professional assistance with any of your West Bank real estate needs, please contact the West Bank Living Team. It would be our pleasure to assist you.

While shopping last weekend, my husband and I were driving down Manhattan Blvd., headed to Chez Target. I darn near got whiplash turning around to take a second look at the neutral ground, since it was lined with the most unique Christmas trees I've ever seen.

So I had to go back to take a closer look at the hues that caught my eye….

Take heart Who Dats, there are black and gold trees as well. Wouldn't it be a hoot to keep the tree up and decorated for the Saints all the way through the Super Bowl?

A tree this bold is not for the faint of heart or the traditionalist, but imagine how much fun it would be! They seem like the perfect choice for stores, bars, restaurants. What about in your garden or front yard? That would definitely stop traffic :)

Pssst…if you decide that this is a holiday statement you want to make, be sure to ask for Kelly when choosing your tree. And if you get one, send us a picture – we’d love to see what your imagination comes up with!

Creative Gardens and Landscaping is located at: 2232 Manhattan Blvd. Harvey, Louisiana
Phone: (504)367-9099
Business Hours: Monday – Saturday 9:00 AM - 6:00 PM

The West Bank Living Team provides professional real estate services on the West Bank of New Orleans and believes that buying or selling a home can be fun. Are you ready? Contact us today!

Current real estate activity in Harvey LA:

164 homes for sale

• High list price $549,000
• Low list price $500
• Average list price $182,181
• Median list price $154,950

58 homes are under contract or pending sale, priced from $49,700 to $525,000

Based on the number of homes sold in October (35), there is a 4.69 month supply of homes for sale in the area.

Harvey LA 70058 | Number of Homes Sold | October 2009

Look at the jump in closed sales for Harvey!  While I don’t know the details on every single transaction, I would project that the large increase was due to the expected expiration on November 30th of the tax credit for first time home buyers that has been extended and expanded. 

Update to 2009 First Time Home Buyer Tax Credit

Should sales continue at the same pace (which is possible given the 58 pending sales), Harvey would be the shining star of West Bank real estate and the only seller’s market in the area, despite the fact that the number of sales is down almost 17% from the same time last year.

Harvey LA 70058 | Average Home Sale Price | October 2009

The average home sale price in Harvey for October was $158,129, bringing the year to date average to $163,373, UP 5.9% from the 2008 average and the only increase in home values that we are seeing on the West Bank of New Orleans. 

While this is good news, it’s important to remember that if you purchased your home during 2005-2007 you may only be at a break even point or experiencing a loss of equity.  Before deciding to sell, it’s important to know what’s going on in your neighborhood.  Get this week's free Harvey LA market snapshot

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

Related Information:
Harvey LA Homes for Sale
New Orleans West Bank Homes for Sale

Harvey LA Real Estate Market Reports

Home Buying Tips
Home Selling Tips

If you have questions about the Harvey LA real estate market or need information about buying or selling a home, please contact the West Bank Living Team.  It would be our pleasure to assist you with any of your real estate needs.

Current real estate activity in Harvey LA 70058:

157 homes for sale

• High list price $585,000
• Low list price $20,000
• Average list price $180,021
• Median list price $155,000

70 homes are under contract or pending sale, with an average list price of $152,624

Based on the number of homes sold in September (16), there is a 9.8 month supply of homes for sale in the area.

Harvey LA 70058 | Number of Homes Sold | September 2009

Harvey has seen 147 homes sold through September 2009, compared to 200 at the same time last year (a decrease of 26.5%).   Like most other areas, the majority of Harvey home buyers are using FHA financing.  These loans require the lowest down payment possible (3.5%) and appeal to the first time home buyers who are trying to get closed before the tax credit expires at the end of November.

Of note is the fact that 44% of the September buyers received an average of $2,756 in assistance from the seller with their closing costs and prepaids.  If you are considering selling your Harvey home, be sure that the agents you talk to can provide you with adjusted sales prices to take any of this assistance into account when determining an acceptable sales price.

Harvey LA 70058 | Average Home Sale Price | September 2009

While the average sale price dropped from August to September, the year to date average is still almost 7% higher than in 2008 – a rare occurrence of increasing prices in today’s market!  Remember, though, that this average does not take into account any seller paid assistance or allowances provided to the buyers at closing and your agent should be able to provide details such as this for sales in your neighborhood.

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

Related reading:

Harvey LA homes for sale
Harvey LA Real Estate Market Reports

Home Buying Tips
Home Selling Tips

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

Questions?  Feel free to contact the West Bank Living Team for any of your real estate needs.  It would be our pleasure to assist you.