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170 homes for sale
48 homes are under contract or pending sale, priced from $35,900 to $400,000
Based on the number of homes sold in October (26), there is a 6.5 month supply of homes for sale in the area (a fairly balanced real estate market)
October marked the most active month of the year in Terrytown and Gretna home sales. I’m sure that much of this increase was due to the uncertainty about whether or not the first time home buyer’s tax credit would be extended (which it has). First Time Home Buyer Tax Credit Extended and Expanded
Year to date, there have been 180 homes sold in the 70056 zip code, compared to 190 at the same time last year. It seems that while the number of sales has been dropping for the last couple of years, we are finally beginning to see some stabilization in the market.
The 2009 average home sale price at the end of October was $158,775, a decrease of 6% from the 2008 average, but slightly above the 2005 average. Since 2005 was the last market that was not impacted by either Katrina or the economy, it’s a good barometer for “normal” and normal has been hard to find lately.
Unless you purchased your home in the last couple of years, it’s a good bet that you have not lost any of the equity in your home. Find out what's going on in your West Bank neighborhood with this week's free market snapshot.
All information is provided by GSREIN and is deemed reliable, but not guaranteed
You might also be interested in:
Terrytown and Gretna homes for sale
New Orleans West Bank Homes for Sale
Home Buying Tips
Home Selling Tips
The West Bank Living Team would be more than happy to assist you with any of your real estate needs. Feel free to call us or drop us a line with any of your questions or concerns.
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51 homes are for sale
12 homes are under contract or pending sale, priced from $52,000 to $240,000
Based on the number of homes sold in October (8), there is a 6.38 month supply of homes for sale in Gretna, which is just about a balanced real estate market.
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The year to date number of homes sold in Gretna as of October 2009 is 62, compared to 65 at the same time last year. Gretna is one of the only markets on the West Bank of New Orleans that has not had a dramatic drop in the number of home sales from 2008 to 2009.
Given the recent amount of activity in the community, I would anticipate that we will equal or exceed the number of homes sold in 2008. While it is not a return to pre-Katrina levels, it appears that the market is balancing out supply and demand.
The average price of homes sold in the City of Gretna in 2009 is now at $137,680, compared to $145,701 in 2008 (a decrease of 5.5%). Again, this is a better performance than many other areas of the West Bank, where some neighborhoods have experienced value drops of more than 20%.
All data provided by GSREIN and is deemed reliable, but not guaranteed.
You may also be interested in:
Gretna LA homes for Sale
New Orleans West Bank Homes for Sale
Home Buying Tips
Home Selling Tips
Have a real estate question? The West Bank Living Team has answers. Feel free to drop us a line or give us a call or visit West Bank Living.
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I’m not talking about painting your house. I’m talking about one of the newest hot spots for West Bank ladies (and a few gentlemen too) to get together for a few hours and share food, drinks and definitely a few laughs.
Painting With A Twist recently opened in Gretna LA, just a couple of blocks off the West Bank Expressway. One of my friends decided that painting and drinking would be a fun way to spend an evening, so we rounded up a group and headed over there last night.
We all arrived toting trays of goodies to share, bottles of wine and even a few daiquiris. I figured the drinking was so that we wouldn’t cry if we hated our pictures. The entire premise is that anyone can be at least a novice artist. Bring your own snacks, drinks and $35 and Painting With a Twist provides the bottle openers, the cups, the space, the canvas, the paints, the brushes and the most patient instructors you’ll ever meet.
Each night of the week, there are open classes that anyone can attend. 2 hours classes are $35 and 3 hour classes are $45. Walk ins are welcome, but it’s preferred that you either call ahead or sign up online, since there are a minimum of 4 people to hold a class. A different picture is featured each night (see the schedule on their website) for the open classes or you can book a private party for 15 or more people and choose your own painting from a large gallery selection.
If you have company coming to visit over the holidays, wouldn’t this be a fantastic way to get out of the house and spend an evening as a group or a family?
Step by step, we were led through the process of turning a blank canvas into our own little piece of art. Rule number one from our fabulous teacher, Jason, was….relax! It’s supposed to be fun, not stressful and a room full of type A, perfectionist personalities promptly did just that. Music played in the background as we made those first hesitant strokes onto the canvas. I don’t know why we were worried to begin with. If we ran into a little trouble, Jason and another of the resident artists were on hand to help us out, encouraging us to put our own interpretation on the guide pictures we were trying to recreate and giving us how-to tips to fix our little mistakes along the way.
Now, I’m not creative or the least bit artistic by any stretch of the imagination. I can’t even draw a straight line, much less paint a picture, but I’m pretty proud of my first attempt and figure it’s at least a step up from what my mom used to hang on the refrigerator.
Painting With A Twist is located at 1900 Lafayette Street, in the Village Shopping Center in Gretna LA. Visit them on the web at www.paintingwithatwist.com or call (504) 361-0574.
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167 homes are for sale
67 homes are under contract or pending sale, with an average list price of $172,469
Based on the number of homes sold in September (15), there is an 11.13 month supply of homes for sale
Although they are down about 9% from this time last year, the number of home sales in Terrytown and Gretna is holding fairly steady from month to month.
While the media focus has been on the first time home buyer tax credit and FHA loans, amazingly enough there were no FHA loans that closed in Terrytown in September.
| Type of Financing Used | Number of homes sold |
| Conventional loans | 6 |
| Cash | 7 |
| VA loans | 2 |
The bad news is that average home sale prices are down 5% from last year – and that’s really not so bad when compared to some of the other West Bank neighborhoods that have been hit hard.
The good news is that unless you purchased your home in 2006-2008, you more than likely have built equity in it, just not at the same rate we saw in the early 2000s.
Homes that are priced right and in excellent condition continue to attract the most attention and sell faster than homes that need a little TLC.
All data provided by GSREIN and is deemed reliable, but not guaranteed
Terrytown and Gretna LA homes for sale
Find out what's going on in your West Bank neighborhood with this week's free market snapshot.
Questions? Contact the West Bank Living Team. It would be our pleasure to assist you with any of your real estate needs.
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53 homes for sale
15 homes are under contract or pending sale, with an average list price of $142,841
Based on the number of homes sold in September 2009 (9), there is a 5.9 month supply of homes for sale in Gretna (a balanced real estate market).
Year to date, Gretna has seen 54 successful home sales, compared to 59 at the same time last year. Not bad, when the majority of the West Bank has seen the number of sales drop substantially from 2008 to 2009.
The average Gretna home sold in September had 3 bedrooms, 2 baths, 1373 square feet of living area and was on the market for 46 days. Homes priced right and in the best possible condition can still sell quickly!
The best news for Gretna is that the supply and demand of homes is in balance at this time. That could change quickly if a large number of homes come on the market for sale, but for now it’s one of the most stable markets on the West Bank of New Orleans.
While the number of Gretna homes sold is holding fairly steady, the average sale price has dropped by 7% from 2008. This is still not nearly as dramatic of a decrease as some other communities on the West Bank have experienced. The first time home buyer tax credit is about to expire, so it will be interesting to see if the average prices increase or decrease when that option is no longer available.
All data provided by GSREIN and is deemed reliable, but not guaranteed
Find out what's going on in your West Bank neighborhood with this week's free market snapshot.
Questions? Contact the West Bank Living Team. It would be our pleasure to assist you with any of your West Bank real estate needs.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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