Originally published at West Bank Living
Current real estate market statistics for Belle Chasse LA as of 11/5/2008:
- 62 active listings, priced from $73,900 to $1,700,000
- Average listing price of $386,993
- Median listing price of $302,500
- 2 pending but continue to show listings, priced from $138,000 to $233,900
- 4 under contract listings, priced from $41,900 to $399,500
- Based on October 2008 home sales, there is a 8.9 month supply of homes for sale in Belle Chasse LA, down from 11.8 months in September
Belle Chasse LA - Number of Homes Sold October 2008
Belle Chasse homes continue to sell at an average rate of 6 to 7 homes per month, putting the community on track to meet or exceed the number of sales recorded in 2007. These sales numbers are a significant change from 2004-2006, for a couple of reasons:
- The number of post Katrina home sales were much higher than the average due to the relocation of a significant number of home owners
- Property values in Belle Chasse, which are the highest on the West Bank, have risen to the point that many first time home buyers cannot afford to live in the community unless they are willing to take on a property that needs an almost complete renovation
Belle Chasse LA - Average Home Sale Price October 2008
Following the national trends, the prices of homes that have sold in Belle Chasse has continued to drift downward each month. While the month to month variations in averages are due to the small number of homes sold, the year to date average sale price gives a better picture of the market - homes are selling at prices more than 10% lower than in 2007.
Home sellers who are keeping track of the trends and adjusting their prices accordingly will be at the top of the list for the discriminating buyers out there today.
All data provided by GSREIN and is deemed reliable, but not guaranteed.
While these reports provide an overview of the Belle Chasse real estate market, your neighborhood may be experiencing something a little different. For a detailed report on your subdivision, contact Lisa Heindel. Success in selling your Belle Chasse home is all in the details.
Related Reading:
- Belle Chasse Real Estate Market Reports
- Home Selling Tips and FAQs
- Getting Your Home Sold in This Market - 10 Steps to Success According to Professional Home Stagers
Copyright 2008. Lisa Heindel and West Bank Living. All rights reserved.
Lisa - Well presented market report, and information consumers will appreciate.
62 active listings, priced from $73,900 to $1,700,000 - That is one heck of a range. How big is Belle Chase? Beyond that, 8.9 months of inventory isn't to bad compared to many other areas of the country. If home owner's in Belle Chase follow your advice, they should have a reasonable expectation that the house will sell.
Hi Lisa! What a thorough market report! I love your graphs. Your numbers are quite close to ours--your 2008 is not far below 2007 and your avg. home sales prices are still $20K above the 2005 prices. As with N.O., I had a killer February AND June here in Charlotte!
Lisa, it looks like a nice little upswing in number of homes sold. Good news for your New Orleans market!
Lisa your graphs do an excellent job at showing what is going on in the Belle Chasse market.
LIsa, Love your graphs! I haven't done a year to year comparison and from your post I can see that it is probably needed in this climate. Guess I need to revamp for this coming new year.
Jennifer, thank you!
Erik, Belle Chasse is not that large of a community, but it's very unique. Most of the new construction is taking place in private communities that are higher end, while the mid-range housing has increased due to the demand placed on the area by families that moved "up" from the southern parts of the parish after hurricane Katrina. Also, it's the location of a large military base, so it's very appealing to incoming military personnel. Without strict zoning laws, some of the lower end housing is actually mobile homes.
Debe, in reading other market reports, it seems that a lot of areas are holding steady - negating the doom and gloom heard from the national news.
Kris, we are holding our own :)
Bill, thank you!
Jo, it's the year to year that I find the most interesting. When people start saying they won't give their house away, I point out that they are usually still ahead of the game from 2005 - they just won't make a killing like sellers did in 2006.
Lisa, looks like your market might be coming back? I love your graphs! Great job! ;-)
Teri, I don't know if come back is right, but at least sales are holding steady!