Marrero LA Real Estate
Highlights of 2015
- Number of homes sold up by 30.4%
- Sold prices down by less than 1/2%
- Available inventory down due to increased demand
2015 Home Sales in Marrero LA
What a difference a year makes. Residential property sales in Marrero jumped from 447 in 2014 to 583 in 2015. That’s an increase of 30.4% in the number of homes sold.
72 new homes were sold in Marrero in 2014, compared to just 35 in 2014. The builders are returning to the area in force.
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2015 Average Home Sale Prices in Marrero
While the number of sales increased dramatically, average sold prices dropped slightly, ending the year at $128,332 (a decrease of just over $1,800, so not a significant move in prices). Considering that 113 homes sold were in Poor or Fair condition, we’re surprised that the average didn’t dip a little more.
The good news for sellers is that sold prices averaged 96.3% of original asking prices. Price it right and odds are that you’ll sell pretty darn close to your listing price.
Average Days to Sell a Marrero LA Home
Corresponding to the increase in the number of homes sold, the time it takes to sell a Marrero home dropped to just 74 days in 2015. That’s the fastest sale rate we’ve seen over the last 5 years. It’s good news for sellers and a warning to buyers that they can’t dilly dally about making an offer when they find the home they want.
Months of Inventory
After a beginning of the year spike that’s totally normal, Marrero swung back and forth between a seller’s market and a balanced market all year long. Those months with just 4 months of inventory are an indicator that more buyers are moving to the West Bank market, taking advantage of more affordable home prices than they’ll find in New Orleans.
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Have questions about buying or selling in Marrero? Contact us at 504-327-5303 or online here. We’d be happy to help educate you about the West Bank real estate market.
