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

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

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.

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 | Average Single Family Home Prices |April 2010

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.

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

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

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You won’t find many homes in this neighborhood that have the updates and finishes like 2524 Delta Pointe does. Freshly painted on the interior and with an easy care brick and vinyl exterior, it’s move in ready.

$152,900

Built in 1996 by Mitchell Homes, the Baton Rouge floor plan is open and flows well from the inside to the outdoors. High ceilings in the living, dining, kitchen and master bedroom make them feel even more spacious.

What will you find behind the door?

• 3 bedrooms
• 2 full baths
• Approximately 1,282 square feet living area
• Convenient kitchen with a sunny corner sink overlooking the backyard
• Dining space with a bay window
• Built-ins in the living room
• Tile floors throughout except for master bedroom
• Updated baths with vessel sinks, new faucets and new lighting
• Walk in closets in every bedroom
• Inside laundry room with additional storage space
• Double car attached garage
• Large fenced back yard

Want to see more? Take the video tour above and then contact the West Bank Living Team for your private showing today.

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 Marrero LA:

262 single family homes are for sale

• High list price $2,300,000
• Low list price $24,500
• Average list price $160,231
• Median list price $139,000
• 31 are bank owned or foreclosure listings

75 homes are under contract or pending sale, priced from $16,900 to $349,000 (19 pending foreclosure sales)

Based on the number of homes sold in March (33), there is a 7.9 month supply of homes for sale in Marrero

Marrero LA 70072 | Number of Homes Sold | March 2010

Year to date, there have been 58 single family home sales in Marrero, compared to 95 at the same time last year. This represents a 39% decrease in the number of homes sold in the first quarter of 2010 vs the first quarter of 2009. The good news is that with 75 homes pending sale, we can anticipate a big jump in this number in the next month or two as those last minute first time home buyers get their closings lined up before the expiration of the tax credit.

Days on market is remaining steady at 87 days. The average active listing has been on the market for 114 days, while the average under contract listing has been on the market for 109 days. Given that, I anticipate days on market to increase later this year, especially after the spring/summer selling season ends.

While there may not seem to be much of a difference between 87 days and 114 days, that represents an extra 27 days of marketing – the equivalent of making another mortgage payment.

Marrero LA 70072 | Average Home Sale Prices | March 2010

As of the end of March, the average home in Marrero sold for $129,300, down over $10,000 from the 2009 average. Foreclosures continue to have an impact on the Marrero market, holding the average price down. When selling your Marrero home, It’s important to know if there are any foreclosures or concessions being offered by competing listings in your neighborhood that would impact your pricing. Ask your West Bank REALTOR for the details on any listings or sales being used to price your home.

The chart below shows how dramatically different the foreclosure market is from the normal market:

Get this week's free Marrero home value report

More about March 2010 home sales in Marrero:

• 33% of the homes sold in March were bank owned or foreclosure properties
• 36% of sellers paid for a home warranty to the buyers
• 55% of sellers provided some type of closing cost assistance to the purchasers
• FHA remains the most popular financing choice of buyers in the area

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

Related Articles:

• Home buying tips
• Home selling tips
• Marrero 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 Marrero LA:

257 single family homes are for sale

• High list price $2,450,000
• Low list price $24,500
• Average list price $167,294
• Median list price $140,000

48 homes are under contract or pending sale, priced from $16,900 to $273,000

Based on the number of homes sold in January (10), there is a 25.7 month supply of homes for sale in Marrero (over 2 years)

Marrero LA 70072 | Number of Single Family Home Sales | January 2010

What the heck happened?  Marrero started out the year with 10 homes sold in January, compared to 31 in January 2009, resulting in the lowest number of monthly home sales in the 70072 zip code in over 5 years.  With 48 pending sales, I can only assume that the holidays have stretched out some closing times.  We will continue to keep a close eye on this trend over the next couple of months to see if it balances out or if it’s a sign of a significant change in the Marrero real estate market.

Days on market for sold homes dropped to 51, and days on market for active listings is now at 115.

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

While the number of sales may be down substantially, the average sale price is holding steady at just over $139,000.  The first time home buyer tax credit has definitely resulted in increased sales in lower price ranges that are most affordable for first time buyers, keeping the average prices down.

More details about January homes sales in Marrero

• 40% of the sales were bank owned or foreclosure properties
• 50% of sellers provided some type of closing cost assistance to the buyers
• 20% 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 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!

Originally published at West Bank Living

THIS HOME IS NO LONGER AVAILABLE - FIND MORE MARRERO HOMES FOR SALE

Just Listed in Marrero, Louisiana

New on the market, this neat and clean Marrero home is searching for a new owner and is priced to sell at only $139,000. Tucked in between East Ames and the Lafitte Larose Highway, the location is a little rural feeling even though it’s less than a mile from shopping, schools and churches.

What Does 2613 Wyoming offer?

• 4 bedrooms, including a private master that is separate from the rest
• 2 full bathrooms
• Living room
• Updated kitchen
• Large, flexible space that is currently used as a dining room but could be additional living area if needed
• Fenced back yard with patio
• Attached garage
• 4 year old roof
• No carpet! Ceramic, wood and laminate flooring throughout

Fishermen take note – there is plenty of space for parking your boat when you aren’t down the bayou catching tonight’s dinner. Prefer to hit the road in your RV? There’s room for that too!

Take a virtual tour

Print a flyer

Community information

• Jefferson Parish Public Schools
• Bayou Segnette State Park
• Jefferson Parish Assessor's Office
• Jefferson Parish official website

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 Marrero LA:

There are 240 homes for sale in Marrero

• High list price $1,600,000
• Low list price $24,500
• Average list price $169,351
• Median list price $144,900

29 homes are under contract or pending sale, priced from $16,900 to $269,500

Based on the number of December sales (28), there is a 8.6 month supply of homes for sale

Marrero LA 70072 | Number of Homes Sold | December 2009

As hard as we tried, Marrero fell just short of maintaining the number of homes sold in 2008, dropping to 359 in 2009 and missing the mark by only 11 sales.  This is actually pretty good news, because it shows some stabilization in the demand for homes in the area while some other areas of the West Bank are continuing to decline.

How long is it taking homes to sell in Marrero?

The average amount of time a Marrero home stays on the market has been climbing year over year, but dropped just a wee bit in 2009, ending the year at 84 days.  Remember, this is just an average.

• The home on the market the longest time in 2009 was 587 days
• The home on the market the shortest time in 2009 was 1 day

Marrero LA 70072 | Average Home Sale Price | December 2009

Marrero is one the few neighborhoods that has remained fairly consistent month to month in home sale prices.  2009 ended with an average of $139,586, down 10.4% from 2008 and almost back to pre-Katrina values.

• The most expensive home sold in the 70072 zip code in 2009 was a plantation style home on 6 acres in Crown Point that sold for $700,000
• The least expensive home sold in the 70072 zip code in 2009 was a 3 bedroom, 2 bath townhome in poor condition in Lincolnshire that sold for $20,000

FHA remains the most popular financing choice in West Bank real estate, with 54% of Marrero home buyers opting to purchase their home this way, with conventional loans trailing way behind.

• 40% of Marrero home sellers provided some type of closing cost assistance to the purchasers of their homes.  This type of information is crucial for home sellers to know because it directly effects the amount a buyer is willing to pay for your home.  Ask your agent for details about seller assistance or 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

Related Articles:

Home buying tips
Home selling tips

West Bank 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 Marrero LA

240 homes are for sale in Marrero

• High list price $2,500,000
• Low list price $24,500
• Average list price $179,274
• Median list price $144,950

33 homes are under contract or pending sale, priced from $16,900 to $310,500

Based on the number of sales in November (32), there is a 7.5 month supply of homes for sale in Marrero

Marrero LA | Number of Homes Sold | November 2009

The 32 homes sold in November brings the year to date number of sales in Marrero to 331, down 4.9% from the same time last year.

FHA remains the king of financing in Marrero real estate, with more than half of home buyers using this loan program that allows for lower down payments and credit scores. 

Sellers should be aware that there are some recommended changes to the FHA program for 2010 that may make it harder for buyers to qualify, reducing the number of potential buyers for their properties.  Now is the time to make sure that you are priced right to compete with the other homes for sale in your neighborhood.

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

Marrero LA | Average Home Sale Prices | November 2009

Home prices in Marrero have been drifting slightly downward for the last few months, ending November with a year to date average of $138,562, down 11.04% from the 2008 average.  The extension of the first time home buyers tax credit into 2010 may help to keep sales steady, but will probably do little to impact prices with over 200 homes to choose from in the area.

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

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

Home buying tips
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Buying or selling a home in Marrero LA?  Contact the West Bank Living Team.  We have dedicated buyer and seller agents that would be pleased to assist you with any of your New Orleans West Bank real estate needs.

This information originally published at West Bank Living

Current real estate activity in Marrero LA:

251 homes for sale in Marrero

• High list price $2,500,000
• Low list price $29,900
• Average list price $185,954
• Median list price $149,000

46 homes are under contract or pending sale, priced from $16,900 to $306,750

Based on the number of homes sold in October (34), there is a 7.38 month supply of homes for sale in the area

Marrero LA 70072 | Number of Homes Sold | October 2009

The number of homes sold in Marrero in October was 34, with a total 300 sold year to date. This is a decrease of 7.4% from the number of sales recorded at this same time last year.

The good news is that sales from month to month are holding steady at an average of 30 homes per month, so while the number of sales is down from years past, there does not seem to be a great deal of volatility in the market.

Each neighborhood is performing differently, so find out what's going on in your West Bank neighborhood with this week's free market snapshot.

Marrero LA 70072 | Average Home Sale Price | October 2009

Home prices in Marrero have been up and down this year, with an average of $139,935, a decrease of over 10% from the 2008 average.

The bad news is that prices have continued to drop.

The good news is that unless you purchased your home in 2006-2008, you more than likely are at least at a break even point. More and more, we are hearing from sellers who purchased at the peak that want to sell their homes. Unfortunately, many of them owe more than they can get in today’s market.

If this is your situation, our advice is to stay put. Real estate is cyclical and while we may be on a downswing right now, there is sure to be an upswing in the future.

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

You may also be interested in:

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

Home Buying Tips
Home Selling Tips

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

Tucked away in the Brentwood subdivision just off of the West Bank Expressway in Marrero, Louisiana, this beautiful home is now on the market.

Offered at $250,000

Constructed in 2006, the Westchester model floor plan was designed with entertaining in mind. Dinner parties? They’ll fit right into the formal dining room. Family get-togethers? The spacious den will accommodate a crowd. Movie night? The upstairs loft makes a terrific media or game room. And so much more….

• 4 bedrooms
• 2 1/2 baths
• 2,949 square feet living area (approximate)
• Soaring, 2 story entry foyer
• Open kitchen with island and attached breakfast area
• Formal living/dining combination
• Large den with wood burning fireplace
• Oversized master suite
• Roomy master bath with garden tub, separate shower and walk in closet

Can’t see the video above? Click here.

Maintenance is a breeze with the brick exterior and all of the major mechanicals are only 3 years old. Why wait to build when you can move right in to this lovely Marrero home?

To schedule your private showing or for more information about 1240 Artesa Drive, contact the West Bank Living Team. It would be our pleasure to assist you.

Current real estate activity in Marrero LA 70072:

254 homes are for sale in Marrero

• High list price $2,500,000
• Low list price $24,900
• Average list price $186,682
• Median list price $149,900

56 homes are under contract or pending sale, with an average list price of $136,680

Based on the number of homes sold in September (24), there is a 10.6 month supply of homes for sale

Marrero LA 70072 | Number of Homes Sold | September 2009

Year to date, there have been 266 homes sold in Marrero, compared to 286 at the same time in 2008.  This 7% decrease in the number of home sales is typical of the current West Bank real estate market, which has seen sales slide across the area since the high point of 2006.

FHA remains the financing option chosen by the majority of home buyers in Marrero.  Why is this important?  Because 62% of the FHA buyers in September also required an average of $5,557 in assistance from the seller with their closing costs and prepaids (insurance, lender fees, etc.).  When selling your home, you need to know what concessions other sellers are making in order to successfully sell their properties.

Marrero LA 70072 | Average Home Sale Price | September 2009

Average sale prices in Marrero are down 9.5% from the 2008 average, but are running just a hair above the 2005 average.  Unless you purchased your home post-Katrina, you more than likely have built at least a little equity in it.  Of course, this varies from neighborhood to neighborhood, with some performing better than others.  Find out what's going on in your neighborhood with this week’s free market snapshot

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

Related Reading:

Search Marrero LA homes for sale
More Marrero Real Estate Market Updates

Home Selling Tips
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Do you have questions about the Marrero real estate market?  Contact the West Bank Living Team today for professional real estate services and advice.  It would be our pleasure to assist you.