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Avondale, Bridge City and Westwego LA 70094: February 2009 Home Sales and Real Estate Market Report

By
Real Estate Broker/Owner with Crescent City Living LLC Licensed LA RE Commission

Westwego, Avondale and Bridge City LA – Current real estate market activity

 

  • 110 active listings, priced from $29,900 to $398,995 (down from 118 last month)
  • 35 pending sales, priced from $29,900 to $216,125 (up from 30 last month)
  • Based on the number of homes sold in February (11), there is a 10 month supply of homes for sale in the area

Westwego, Avondale and Bridge City LA – Number of Homes sold February 2009

Westwego, Avondale and Bridge City LA Home Sales

Year to date, there have been 22 homes sold in the 70094 zip code, compared to 30 at the same time last year.  The investors are out in force, with over 40% of this years sales being paid for in cash.

The interesting data is that only about 1/3 of the contracts being written are closing within 30 days.  Part of this is the stricter lending criteria that buyers must meet – lenders are taking longer to approve mortgages and deals are taking longer to close.  Another part is that buyers are much more willing to walk away from a home that they find problems with during inspections….yet another reason to have your home ready before putting it on the market.

Are You REALLY Ready to Sell Your West Bank Home?

 

Westwego, Avondale and Bridge City LA Home Sales

Westwego, Avondale and Bridge City LA – Average Home Sale Price February 2009

Westwego, Avondale and Bridge City LA Home Sales

Of the 22 sales in 2009, 50% of them have been homes in need of repairs or renovations, holding the year to date average sale price to under $100,000.  As you can see in the chart below, there was a dramatic drop in average home sale prices from 2007 to 2008.  This trend has continued into 2009.

When selling a home in the 70094 zip code that commands a higher than average price, be sure that you know the 4 Things to Expect From Your Agent When Selling Your West Bank Home.

Westwego, Avondale and Bridge City LA Home Sales

For more information about buying or selling a home in Avondale, Bridge City or Westwego, contact the West Bank Living Team.  It would be our pleasure to assist you.


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

The West Bank Living Team provides professional representation for home buyers and sellers on the West Bank of New Orleans.  For all of your real estate needs, please contact us.

Comments (2)

Mesa, Arizona Real Estate Mesa Arizona Realtor
Homes Arizona Real Estate LLC - Mesa, AZ
AzLadyInRed

Lisa, again some great graphs. I've started experimenting and will put some together too. ;-) I love seeing numbers with graphs. Makes more sense. ;-)

Pepper

Mar 13, 2009 05:41 PM
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Lisa you always do such a great job with your market reports. I am sure the information is widely read in your area.

Mar 14, 2009 06:25 AM