[StBernard] Average home price plummets in St. Bernard, Orleans Parish West Bank

Westley Annis Westley at da-parish.com
Mon May 9 17:45:05 EDT 2011


Average home price plummets in St. Bernard, Orleans Parish West Bank

POSTED: 03:52 PM Monday, May 9, 2011

BY: Christian Moises, News Editor

TAGS: Gulf South Real Estate Information Network, home prices

The average selling price of homes in the New Orleans area was down in all
areas except three when comparing month-over-month and down in all but two
areas when looking at year-over-year figures, according to statistics from
the Gulf South Real Estate Information Network released today.

The average selling price of homes in the New Orleans area in April was down
3.8 percent compared with last year, from $196,213 to $188,810. Fewer homes
were sold this year at 651 compared with 799 in 2010.

The West Bank of Orleans Parish saw the sharpest month-over-month drop at 31
percent to the lowest average selling prices since October. The area also
saw the steepest year-over-year drop at 29.4 percent. St. Bernard Parish
also posted a double-digit drop over the month of 16.4 percent to the lowest
average prices since June 2007, when homes were going for an average of
$74,982. Prices in West Jefferson, which posted the sharpest drop at 19.1
percent between February and March to a new post-Hurricane Katrina low, saw
an increase of 11.9 percent after three straight months of declines.

On a year-over-year basis, St. Bernard barely trailed the West bank of
Orleans Parish with a 29 percent tumble, while West Jefferson was down 11.7
percent.

Here's how the average selling price measured up by area in April:

- East Jefferson: $207,637, up slightly from $207,589 in March but less than
$198,783 average a year ago;

- West Jefferson: $123,586, up from $110,415 in March but less than the
$139,925 average a year ago;

- Orleans East Bank: $237,280, down from $244,124 in March but more than the
$221,830 figure a year ago;

- Orleans West Bank: $106,238, down from $154,007 in March and less than the
$150,405 average a year ago;

- Plaquemines: $254,000 (three homes sold), down from $268,556 in March,
when nine homes were sold and from $386,625 a year ago, when four homes were
sold;

- St. Bernard: $76,204, down from $91,205 in March and less than the
$107,265 figure a year ago;

- St. James, St. John and St. Charles: $151,581, down from $152,793 in March
and less than the $156,802 average a year ago;

- East St. Tammany: $157,065, down from $160,286 in March and from $165,327
a year earlier; and

- West St. Tammany: $235,148, more than the $233,338 average in March but
less than the $258,321 figure a year ago.

Properties sat on the market for an average of 99 days last month compared
with 96 days in April 2010..





More information about the StBernard mailing list