April 2010 Home Sales and Real Estate Market Update for Terrytown and Gretna LA 70056

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