The Mandeville real estate market continues to be hot since the hurricane Katrina aftermath. Houses that are livable and up for sale are only on the market for 10 to 30 days. The average sale price is $250,000, which is a jump of close to 15% over last years prices. Sellers are getting between 95 and 100% of the asking price. Houses that are in good condition and in a good location are receiving multiple offers for over the asking price.
In Covington, there are many more buyers than sellers in the market. Houses are only listed for 10 to 30 days and selling for top dollar. The average sale price is $250,000, but any house under $300,000 is selling very fast. The sale prices are between 10 and 15% higher than one year ago.