Real estate activity in Westwego, Avondale and Bridge City LA
- 152 single family homes are for sale, priced from $28,000 to $550,000
- 32 homes are under contract, priced from $17,550 to $200,000
- 17 homes were sold in September, with sale prices ranging from $21,000 to $230,000. The average home sold in September had 3 bedrooms, 2 baths, 1310 square feet and sold for $91,965 (or $69.36 per square foot)
Homes sold in Westwego, Avondale and Bridge City
Year to date, there have been a total of 117 homes sold in the 70094 zip code, compared to 109 at the same time last year. The majority of homes sold in the area in 2011 have been distressed properties – either foreclosures or short sales – accounting for over 50% of sales. This is the highest volume of foreclosure sales on the West Bank.
Home prices in Westwego, Avondale and Bridge City
As the number of foreclosure sales have increased, there has been a corresponding drop in the average sale price of homes. Current average sale prices are 24% below the 2010 average and this is directly related to the large number of foreclosure sales and the very low prices that investors are able to snap them up at. 53 of the 117 homes sold this year (42%) were sold for less than $50,000. Normal resales are the odd occurrence in this market, so pricing becomes an art when home owners decide to sell.
More about real estate in Westwego, Avondale and Bridge City
- 54% of homes sold in 2011 have been foreclosures or short sales (up from 39% last year)
- 31% of sellers provided closing cost assistance to the buyers (down from 33% last year)
- 13% of sellers provided a home warranty (down from 26% last year)
- 31% of homes sold in 2011 were in Fair or Poor condition