Current real estate activity in Westwego, Avondale and Bridge City:
139 single family homes are for sale
- High list price $330,000
- Low list price $24,900
- Average list price $130,840
- Median list price $119,000
23 homes are under contract or pending sale, priced from $19,900 to $299,000
Based on the number of homes sold in January (8), there is a 17 month supply of homes for sale in the 70094 zip code
Westwego Avondale Bridge City | Number of Single Family Homes Sold | January 2010
The 70094 zip code started the year with 8 home sales in January, compared to 10 in January 2009. This marks the slowest January sales in the last 5 years. But, with 23 homes under contract, I expect to see an increase in closings for February.
Days on market took a jump, up to an average of 107 days for sold listings. Active listings have been on the market for an average of 129 days, so look for this trend to continue.
Find out what's going on in your West Bank neighborhood with this week's free market snapshot.
Westwego Avondale Bridge City | Average Single Family Home Price | January 2010
While the number of sales was down, the average price for homes sold in January was up to $120,850. This is the highest monthly average we’ve seen in the 70094 zip code since 2007.
FHA continues to be the financing option of choice for the majority of buyers in the Westwego, Avondale and Bridge City communities. With the stricter condition requirements for FHA loans, sellers should be aware that deferred maintenance can make their homes ineligible for this type of financing.
A few facts about January sales:
- 37.5% of homes sold were bank owned or foreclosure properties (compared to 33% across the West Bank of New Orleans) 37.5% of sellers provided some type of closing cost assistance to the buyers
- 25% of sellers paid for a home warranty for the purchasers
All data is provided by GSREIN and is deemed reliable, but not guaranteed
Home buying tips
Home selling tips
Westwego homes for sale
West Bank Real Estate Market Statistics
For more information about home buying or selling on the West Bank of New Orleans, or relocating to or from NAS JRB New Orleans, please contact the West Bank Living Team. It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!
Originally published at West Bank Living
A very informative report with great graphs. I would love to learn how to do these types of graphs/charts.
Joan, I do the graphs in Excel - pretty easy once you've done a couple. If you need help, feel free to give me a call.
Lisa, I'm glad to hear there are so many homes in contract....I think the Spring buyers will be coming out and just recently saw a show about people returning to New Orleans that have been away for so long and miss it too much. I believe that's going to happen.
Carole, I'd love to know what show that is! Do you by any chance remember where you saw it?