Westwego, Avondale and Bridge City LA: 2008 Home Sales Year in Review

By
Real Estate Broker/Owner with Crescent City Living LLC Licensed LA RE Commission
First, I have to say mea culpa, mea culpa.

There was an error in how the monthly sales reports were being pulled for Westwego, Avondale and Bridge City that resulted in inaccurate information for 2008. The error has been corrected and you can be assured that the end of year sales information is as accurate as possible. That said, let's take a look at how the communities fared for the year.

Current real estate statistics for zip code 70094:

  • 118 active listings, priced from $45,000 to $398,995
  • 10 pending sales (homes still being shown) priced from $72,000 to $135,000
  • 14 homes are under contract, priced from $12,240 to $188,000
  • The average list price is $135,553
  • The median list price is $120,000
  • Based on December 2008 sales (11), there is a 10.7 month supply of homes for sale in Westwego, Avondale and Bridge City zip code 70094

Westwego, Avondale and Bridge City LA - Number of Homes sold 2008

Westwego LA home sales 2008

Westwego, Avondale and Bridge City ended the year with a total of 160 closed sales, down 18% from 2007 (compared to the 23% average decrease across the West Bank).

This continues the trend we have been watching for the last few years (2006 excepted). While historic low interest rates should be pushing some wishy-washy buyers off of the fence, very strict lending guidelines are tossing them back over it, to wait and save a little longer before being able to purchase a home.

What's a seller to do in this market?

Same as always...prepare and price it right. Home Selling Tips

Westwego LA home sales 2008

Westwego, Avondale and Bridge City LA - Average Home Sale Price 2008

Westwego LA home sales 2008

Look at that downward trend in prices across the 70094 zip code. The year ended with an average sale price of $97,159, down 21% from the 2007 average.

Westwego, Avondale and Bridge City (combined) have the lowest average sale prices on the West Bank - not great for sellers, but a wonderful opportunity for qualified buyers.

It's important to note that prices are above those of 2004, so unless you bought your home in the last 3-4 years, you have still more than likely experienced an increase in value since your purchase. Want to stay on top of what's happening in your neighborhood right now?

Sign up now for a free online report of listings and sales.

Westwego LA home sales 2008

All data provided by GSREIN and is deemed reliable, but not guaranteed.

If you are considering a move to or from the Westwego area, contact Lisa Heindel. It would be my pleasure to assist you.

Contact Lisa Heindel 1 What's My Home Worth 1

Copyright 2009. Lisa Heindel and West Bank Living. All rights reserved.
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Louisiana Jefferson Parish Westwego
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Tags:
avondale real estate
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Rainmaker
1,049,106
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

As usual Lisa you market reports give a great picture of what is going on in the local Real Estate market.

Jan 24, 2009 10:45 PM #1
Rainer
179,681
Erik Hitzelberger
RE/MAX Alliance - Louisville REALTOR-Luxury Homes - Louisville, KY
Louisville - Middletown Real Estate

Lisa - Once again, you have and excellent job educating buyers and sellers about the realities of your market.  Market reports such as this prove that you are a true local real estate expert. 

Jan 27, 2009 05:53 AM #2
Rainmaker
413,193
Lisa Heindel
Crescent City Living LLC - New Orleans, LA
New Orleans Real Estate Broker

Bill and Erik, thanks guys!  Us market report geeks have to stick together :)  It's so important for both buyers and sellers to know what's going on in their market.

Jan 27, 2009 02:06 PM #3
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Rainmaker
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Lisa Heindel

New Orleans Real Estate Broker
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