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Marrero LA Home Prices as of September 2016

October 10, 2016 By Crescent City Living

Marrero LA Home Prices

What’s happening in the Marrero real estate market? As we move into the final quarter of the year, let’s take a look at where home prices are heading in this West Bank community.

Marrero LA home prices

Data provided by GSREIN

 

Key Marrero LA home prices for 2016

  • Lowest sold price  2021 Tuskegee Drive sold for $16,500 on 3/23/2016
  • Highest sold price  19 Tara Court sold for $389,000 on 6/30/2016
  • Median sold property is a 3 bedroom, 2 bath home with 1,552 square feet of living area and a sold price of $135,000
  • Average sale prices are at the highest since 2009, and are up by 8.2% from 2015

Number of Marrero LA homes sold

An average of 54 single family homes have been sold each month in 2016, up from 48.6 in 2015 and 37.25 in 2014. We’ve said before that increasing prices on the East Bank will be a driving factor in pushing home buyers to consider the West Bank and it looks like it’s happening.

Marrero LA home prices - # homes sold 2016

Data provided by GSREIN

 

Buyer or seller market?

Inventory has been moving a lot faster in Marrero this year, particularly in $100,000-$150,000 price range. When we see the months of inventory drop below 5 months, it’s definitely a seller’s market right now.

Pro tip: A seller’s market doesn’t mean that buyers are willing to overpay for a property. Homes still need to be price competitively to garner buyer interest. 

Marrero LA Home Sales - supply and demand

Data provided by GSREIN

 


 

Marrero LA homes for sale

[static_listings id=’32343′]

Filed Under: Uncategorized

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Disclaimer: Multiple Listing Data provided at CrescentCityLiving.com is deemed reliable but not guaranteed. It is good practice to verify all information with a Real Estate Licensee before taking any action based upon this data. Listing data is made available for the use of consumers interested in the acquisition of real property only. Use of this data for any other purpose is strictly forbidden without the written consent of the Gulf South Real Estate Information Network.

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