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, 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, Avondale and Bridge City LA - Average Home Sale Price 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?
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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.
Copyright 2009. Lisa Heindel and West Bank Living. All rights reserved.