Westwego, Avondale and Bridge City, LA: June 2008 Real Estate Absorption Rates

Here is a quick look at the current real estate market in Westwego, Avondale and Bridge City, LA.

• A balanced real estate market has on average a 5-6 month supply of homes for sale.  Typically, over 6 months of inventory indicates a buyers market.
• Homes priced under $80,000 are continuing to sell very well in Westwego, since this is the lower end of the market in a demand area of the West Bank
• The overall supply of homes for sale in Westwego rose slightly from 8.2 in May to the current 8.3 months of inventory, the second lowest across the West Bank
• Highlighted price ranges show categories that fall into a balanced/seller’s market at this time

Real Estate Absorption Rates for Westwego, LA as of 6/18/2008

Remember, an absorption report is a snapshot of the market at the current time, and the statistical odds of selling in 90 days will vary depending on the number of homes for sale and recent closed sales.  This is not a guarantee that your home will sell within this timeframe, only a tool to use to gauge buyer interest in the various price ranges in the area.

If you are considering selling your home in Westwego, it’s critical to be aware of the current market environment and to understand what competition you are facing.  For local, expert advice when selling your New Orleans West Bank home, please contact Lisa Heindel, REALTOR®.  I’d be happy to help you properly prepare and price your home for our current, challenging real estate market. 

Related Reading:

Westwego, Avondale and Bridge City, LA- May 2008 Home Sales and Real Estate Market Report

5 Steps to Choosing Your New Orleans West Bank Real Estate Agent 

Make Your Home the Star of the Neighborhood - Stage It!

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.