These charts include date for the entire year 2009.
Before I get started I want to make sure I temper any statements here with the fact, the Covington year in review contains data which includes the Cities of Abita Springs, Folsom and Bush, and all the rural areas in between in St Tammany Parish. We did not feel it was necessary to break W St Tammany up into smaller markets for this review. Why do I say this? Well the numbers for Covington do not look as good as Mandeville, however you must take into account the larger area and different type properties. I do believe if we were to compare downtown Covington to Mandeville, the numbers would be more equivalent. However, this is called the Covington review, not the why are the numbers different than Mandeville review?
Less than 26% of the homes in Covington in 09 sold in less than 30 days, but almost 60% did sell in less than 90 days. The ugly number here is almost 33%, a full 1/3, took longer than 120 days.
Now the numbers here I think are ok. The list price versus sales price only range from a little over 3% to a little less than 6%. Even when a home took longer than 4 months to sell, Sellers were not having to give away the barn. The Sellers were only reducing their homes by less than 6% during 2009, which is not bad at all when you consider the overall economy. I am pleased with these numbers.
For a more precise look at your homes value in Covington, visit
www.StTammanyHomeEvaluation.com
Thank You
Marc
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