Harvey LA 70058 | Home Sales and Real Estate Trends for October 2009

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.