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
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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
Excellent presentation as usual Lisa. Those are some pretty startling numbers in terms of year over year comparison for number of sales in January. At least it appears prices have held steady. I think short sales are slowing down our closed sales numbers (in my market)and in the long run, it will even out. Are you seeing many short sales in your market?
Nice presentation of the local Real Estate stats for your area Lisa! Your graphs are excellent visuals.
Lots of info sounds like the well priced home are the ones selling.
Colleen, not too many short sales, but the REOs have definitely increased lately. I'm tracking those a little closer now, because they have such an impact on the comps for my sellers.
Bill, thanks!
Terry/Bonnie, the lower end is doing pretty well. High end, not so much.