March 2009 Home Sales and Real Estate Trends for Marrero LA 70072

Current real estate activity in Marrero LA 70072:

• 199 homes for sale
• Low list price $16,900
• High list price $1,600,000
• Average list price $179,604
• Median list price $148,500

74 pending sales, priced from $31,000 to $399,900

Based on the number of homes sold in March (34), there is a 5.85 month supply of homes for sale (one of the most balanced markets on the West Bank of New Orleans at this time)

Marrero LA 70072 – Number of Homes Sold March 2009

Marrero ended the month with 34 closed sales, bringing the year to date total to 91. The 2009 sales are down from 102 sold at the same time last year. Given that there are 74 pending sales at this time, I would expect to see a fairly significant increase in sales for April, depending on how inspections and financing work out for the buyers.

Here is a breakdown of the 34 sales in March:

• 3 homes were in Fair condition with an average sale price of $69,466
• 7 homes were in Average condition with an average sale price of $88,192
• 4 homes were in Very Good condition with an average sale price of $141,250
• 17 homes were in Excellent condition with an average sale price of $162,826
• 3 homes were New construction with an average sale price of $217,886

Obviously, the condition of a property has a strong impact on the price that buyers are willing to pay. Do you need help getting your home ready to sell? Read Getting Your Home Sold in This Market - 10 Steps to Success According to Professional Home Stagers

Marrero LA 70072 – Average Home Sale Prices March 2009

The average year to date home sale price in Marrero is $138,307. The median year to date price (half of the sales were higher and half were lower) is $125,000. Average Marrero home sale prices are down about 11% from 2008.

Year to date, there have been 21 sales with conventional financing, 17 cash sales, 43 FHA sales, 4 VA sales and 7 other types of financing. With such a large percentage of FHA sales (47%), many buyers are asking for and receiving assistance from the seller when purchasing a home.

In March, 12 of the 34 sales (35%) had sellers providing an average of $4,518 in closing cost assistance to the purchasers. This is an important number to know when pricing your home! Be sure that your agent can provide you with adjusted sales numbers to get a true picture of what homes are selling for in your neighborhood.

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

More about West Bank real estate:

• Search for Marrero homes for sale
• Search for West Bank Homes for Sale
• Find out what's going on in your West Bank neighborhood with a free online market analysis

The West Bank Living Team provides professional, local real estate services for buyers, sellers and military relocations to NAS JRB New Orleans. Please feel free to contact us with your real estate needs.