The graph above, (feel free to click to enlarge) illustrates a 3 year review of real estate activity for the City of Mandeville, South of I-12 and West of Hwy 190. Major subdivisions in this area include; Beau Chene, Covington Country Club, Riverwood, Beau Rivage, Fontainebleau, The Sanctuary, and many more. This graph tracks the number of new, active, and sold homes, as well the average sales price, on a month to month basis, from March 2007 to February 2010.
The biggest insight I find here is the number of active listings. This number has dropped for the past 6 months, and as the inventory of homes decreases then prices will increase. Fewer homes on the market creates demand and value. Looking at this microcosm I see prices on the rise, for the short futures. The number of homes must continue to decrease for the values to continue to rise. Simple supply and demand.
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Thank You
Marc Pellettiere
Mauti Meredith Scoggin
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