The overall supply of homes for sale in Westwego, Avondale and Bridge City has increased slightly from the 8.1 months observed in April to the current 8.2 month supply. Keep in mind that a balanced real estate market has a 5-6 month supply of homes for sale…more than that indicates a buyers market for the area.
Westwego homes priced in the under $100,000 range are selling very well and sellers in this price range can feel fairly comfortable that they will be able to sell their homes in a relatively short period of time. The $100,000-$140,000 range has slowed slightly, but is still performing. The number of homes listed for sale has remained steady with 4 more listings than we saw at this time last month. Since homes in the over $200,000 price range are continuing to sit on the market, sellers should be sure that their homes are being exposed to the widest possible audience through their marketing plan. Feel free to call me to talk about how I market my listings!
The $100,000-$160,000 range accounts for 55% of the current listings and 44% of the recent sales. Sellers in this price range need to not only be aggressive in pricing their homes, they also need to remember to make them “show ready” at all times. Buyers have a large number of choices and are opting for those homes that they perceive to be the best value in their price range. Also, sellers should remain open to negotiating closing cost assistance to buyers, who are no longer able to get 100% financing. More and more often, I’m seeing these assistance requests on mid-range priced homes since buyers are having to come up with more down payment funds.
Westwego, LA 70094
Data provided by GSREIN and is deemed reliable, but not guaranteed.
Remember, this report is for the entire zip code 70094. If you would like a personalized report for your home and neighborhood, please contact Lisa Heindel, REALTOR®. I’d be happy to help keep you up to date with your piece of the Westwego real estate market.
Related Reading:
Westwego, Avondale and Bridge City, LA: April 2008 Home Sales and Real Estate Market Report
Make Your Home the Star of the Neighborhood – Stage It!
5 Steps to Choosing Your New Orleans West Bank Real Estate Agent
Here’s the disclaimer part: The opinions expressed here are strictly those of the author, but you are free to share yours in the comments. All information is deemed reliable but not guaranteed,
Copyright 2008. Lisa Heindel, All rights reserved.
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