West Bank Living

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

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

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.

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!

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

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.

Home Sales in Westwego, Avondale and Bridge City, LA

• 117 homes currently for sale in zip code 70094 (Westwego, Avondale, Bridge City and Waggaman, LA), up from the 103 at the same time last month
• 24 homes under contract or pending sale, priced from $56,000 to $269,900
• 12 sold homes in May 2008, compared to 14 in April
• Based on recent sales, there is a 9.75 month supply of homes for sale in the area, above the 5-6 month supply of a balanced market, but below most other areas of the West Bank

• The average home sale price in May 2008 for zip code 70094 was $97,541, down from $111,236 in April
• The average year to date home sale in Westwego, Avondale and Bridge City was $102,308
• The average list price of homes currently for sale in zip code 70094 is $138,499
• The average days on market for homes sold in May 2008 was 98
• The average days on market year to date for 2008 is 95

May reversed the increasing sale price trend we were seeing in Westwego and other cities in 70094.   As always, working with an experienced West Bank REALTOR® will allow you to prepare and price your home to sell.  For a detailed market analysis of your West Bank home, please

contact Lisa Heindel.

Related Reading:

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

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

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.

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 Latter & Blum REALTORS® 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

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

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.

The real estate market in Westwego is holding steady, with 14 homes sold in April 2008, continuing the ever so slight increases from month to month.  The number of pending sales is down slightly from the same time last month (31 in April vs 27 currently).  Based on April sales, there is a 13.6 month supply of homes for sale in Westwego, Avondale and Bridge City - still a buyer’s market.

• Active listings:  103 (down from 108 at the beginning of April)
• Average list price:  $138,856
• Pending but continue to show listings:  6  (Average list price $132,783)
• Under contract listings:  21  (Average list price $115,095)

Westwego, Avondale and Bridge City - Number of Home Sales, April 2008

Westwego, Avondale and Bridge City - Average Single Family Home Sale Price, April 2008

The average home sale price continues to creep up, but is still lower than the average sales prices recorded at the end of 2007 in the area.  Looking at the list prices of homes currently under contract, I project another small increase in average sale prices by the end of May.

Please remember that these reports cover the entire 70094 zip code.  If you would like a report of home sales in your individual Westwego, Avondale or Bridge City neighborhood, please feel free to contact me or call me direct at (504) 616-6262.  I’d be happy to help you stay on top of the changing West Bank real estate market.

Related Reading:

Westwego, Avondale and Bridge City, LA: April 2008 Real Estate Absorption Rate

5 Dos and Don’ts for Home Sellers

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

Copyright 2008.  Lisa Heindel, All rights reserved.