Westwego, Avondale and Bridge City LA Home Sales and Real Estate Absorption Rates for August 2008

Westwego, Avondale and Bridge City real estate absorption rates as of 8/18/2008

• Active listings in zip code 70094 are 116 vs 117 in mid July
• The overall supply of homes for sale in the area rose slightly, from 8.4 months to 8.9 months with the average number of homes sold per month dropping from 14 to 13 (a nominal difference)
• The most active price ranges are $40,000-$60,000 and $100,000-$120,000

The odds below are an estimate, not a guarantee that your home will sell in this time frame

Are you considering selling your Westwego home?  For an experienced West Bank real estate agent, contact Lisa Heindel.  I’d be happy to help you price your home to sell.

Related Reading:

What Is A Real Estate Absorption Rate?

Copyright 2008.  Lisa Heindel and West Bank Living.  All rights reserved.

Westwego, Avondale and Bridge City LA: July 2008 Home Sales and Real Estate Market Reports

Current real estate market statistics for zip code 70094 as of 8/5/2008:

• 123 active listings, priced from $38,000 to $399,000
• 13 pending sales (offer accepted but still showing), priced from $66,900 to $149,000
• 18 under contract listings, priced from $34,900 to $210,375

Based on July sales, there is a 6.8 month supply of homes for sale in Westwego, Avondale and Bridge City, up just slightly from June’s 6 month supply.  The area continues to have one of the most stable real estate markets on the West Bank of New Orleans.  I’m hoping that the new FHA down payment guidelines do not have a negative impact on sales in the area, since so many are to first time home buyers.

Westwego, Avondale and Bridge City - Number of Homes Sold July 2008

The average home sale price in July according to the MLS was $150,818, but with a little investigating I discovered that this is an error in the data.  A home that sold for $54,900 was recorded as $549,000.  This is a perfect example of why you need an agent who knows the market when pricing your home!

• The accurate average sale price for July 2008 was $105,900 compared to $91,459 in June 2008.
• The year to date average sale price for Westwego, Avondale and Bridge City is $101,271.
• July average days on market for sold homes was 62, while the year to date average is 85.

Westwego, Avondale and Bridge City - Average Home Sale Prices July 2008

 

For a detailed and accurate analysis of your West Bank home, contact Lisa Heindel.  I’d be happy to talk to you about pricing, preparing your home for sale and how I can help you get it sold.

Related Reading:

• Westwego, Avondale and Bridge City 70094- July 2008 Real Estate Absorption Report
• Previous Real Estate Market Reports for Westwego, Avondale and Bridge City
• 5 Steps to Choosing Your New Orleans West Bank Real Estate Agent

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

Westwego, Avondale and Bridge City 70094: July 2008 Real Estate Absorption Report

The Westwego real estate market has remained stable from June to July with no movement in the overall supply or demand for homes in the area.

• Competition for buyers in the $80,000-$160,000 price range remains fierce, with a large number of homes for sale in this range
• Sellers should continue to get monthly market updates to ensure that they are still priced to present the best value to buyers in their neighborhood

Westwego, Avondale and Bridge City Absorption Rates as of 7/21/2008

The odds listed are an estimate, not a guarantee that your home will sell in this time frame

Data supplied by Latter & Blum REALTORS and is deemed reliable, but not guaranteed

Are you considering selling your Westwego home?  For an experienced West Bank real estate agent, contact Lisa Heindel.  I’d be happy to help you price your home to sell.

Related Reading:

What Is A Real Estate Absorption Rate?

Choosing a Tech Savvy REALTOR® to Sell Your West Bank Home

Home seller tips

Westwego, Avondale and Bridge City, LA: June 2008 Home Sales and Real Estate Market Reports

Westwego Homes for Sale as of 7/2/2008

• 120 active listings, priced from $39,000 to $430,000
• 9 pending (offer accepted but still showing) listings, priced from $110,000 to $245,000
• 15 under contract listings, priced from $34,900 to $185,000
• Based on the June 2008 sales, there is a 6 month supply of homes for sale in Westwego, Avondale and Bridge City.  This indicates a balanced real estate market for the region, which is great news for sellers who have been patiently waiting.  If your Westwego home is still on the market, maybe you need to make it the star of the neighborhood.

 

Westwego, Avondale and Bridge City Home Sales - January through June 2008

 

• 18 homes sold in June 2008, compared to 12 sold in May
• Quarterly sales remained steady from 1st quarter to 2nd quarter 2008
• A total of 24 sales were pending as of 7/2/2008

 

Westwego, Avondale and Bridge City Home Sales - 2nd Quarter 2007 through 2nd Quarter 2008

 

 

Westwego, Avondale and Bridge City Average Home Sale Price - January through June 2008

 

• The average sale price dropped to $91,459 in June 2008, the third straight month of decline for zip code 70094.
• While the number of sales is holding steady, buyers are still looking for the best value in their price range as shown by the average sale prices and the listing prices on homes pending sale (average of $92,540).

 

Westwego, Avondale and Bridge City Average Home Sale Price - 2nd Quarter 2007 through 2nd Quarter 2008

 

For a detailed market analysis of your home in Westwego, Avondale or Bridge City, contact Lisa Heindel, your West Bank real estate specialist.

 

Related Reading:

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

Westwego, Avondale and Bridge City, LA - Historic Real Estate Market Reports

    

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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.

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!

    

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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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