Westwego LA 70094 | Real Estate Market Update

Westwego LA Real Estate

Including Westwego, Avondale and Bridge City LA
  • 127 single family homes for sale
  • Low list price $21,500
  • High list price $459,900
  • Average list price $113,392
  • Average days on market 139

Pending home sales in 70094

  • 35 homes are under contract or pending sale
  • Average list price $84,611
  • Average days on market 94
  • 18 (51%) of the pending sales are foreclosures or bank owned properties

2012 Home Sales in 70094

A total of 138 homes have been sold in the 70094 zip code this year, compared to 117 at the same time in 2011. While the number of sales is up, average prices have dropped just a bit, ending September at $73,144. As long as the majority of sales are foreclosures, I don’t anticipate the averages increasing any time soon.

This part of the West Bank has been hard hit with home and job losses and the real estate market is a direct reflection of this.

Home sale trends in Westwego LA 70094

  • 52% of homes sold have been either foreclosures or short sales, down from a high of 56% in 2011
  • 26% of sellers provided closing cost assistance to the buyers, down from 32% last year
  • 20% of sellers provided a home warranty, up from 17% in 2011

Home sale price trends for Westwego LA 70094

There is a definite gap between sale prices for foreclosures and traditional resales, which continues to average prices down. This variance is the reason that home sellers should be sure to get a thorough market analysis of sales in your own neighborhood before setting a sale price for your home.

  • 2012 average foreclosure sale price: $46,326
  • 2012 average resale price: $96,877

For more information about buying or selling a West Bank home, please contact us today.

 

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