Westwego, Avondale and Bridge City LA: October 2008 Real Estate Market Reports

Originally published on West Bank Living

Current real estate statistics for Westwego, Avondale and Bridge City LA as of 11/5/2008:

• 131 active listings, priced from $39,900 to $398,995
• Average list price $133,811
• 5 pending sales, continuing to show, priced from $85,000 to $120,000
• 14 homes are under contract, priced from $49,900 to $179,000
• Based on October sales, there is a 10.9 month supply of homes for sale in Westwego, Avondale and Bridge City, up from 9.5 last month.

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

I was pleased to see that the big jump in recorded sales for September was not just an anomaly, since it continued into October.  This increase puts Westwego, Avondale and Bridge City on track to surpass the number of homes sold in 2007, a rarity on the West Bank this year.  While not setting any record sales numbers, the real estate market is stable in the area.

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

At the same time that the number of homes sold took a jump, the average selling price continued the gradual decline we have been watching since April 2008. 

Month to month variations are to be expected since they are dependant upon a small sample of sales, but the year to date sales information shows that the average home in zip code 70094 is selling for around 7% less than last year.

All data compiled from GSREIN and is deemed reliable, but not guaranteed.

Please remember that these reports are an overview of the real estate market in zip code 70094.  A report for your Westwego, Avondale or Bridge City neighborhood may tell a different story.  If you would like specific market information on your West Bank neighborhood, please contact Lisa Heindel.

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