About Jefferson Parish, LA

Investment Property in Kenner LA

In the City of Kenner LA there are all sorts of investment property. You can invest in commercial as well as single family homes. The prices range is a wide as the properties are. Multifamily properties for sale can be found in the $55 to $85 dollars a square foot. A two bedroom apartment unit in Kenner as of today rents for about $800 per month. A three bedroom unit can range from $850 to $1250 per month. These units price can vary due to location and condition.

The City of Kenner as a whole is a small community with entertainment, shopping, schools and eating to match anyone's likes. Transportation is not a major concern. The I-10 interstate goes thru the middle of the city. As well as New Orleans international Airport is just minutes away.

Current real estate activity in the 70094 zip code:

129 homes for sale

• High list price $369,000
• Low list price $35,000
• Average list price $133,781
• Median list price $118,000

39 homes are under contract or pending sale, with an average list price of $103,667

Based on the number of homes sold in September (12), there is a 10.75 month supply of homes for sale in the community

Westwego Avondale Bridge City | Number of Homes Sold | September 2009

Westwego, Avondale and Bridge City ended September with a total of 104 homes sold in 2009, compared to 130 at the same time last year (a 20% decrease in the number of sales).  In my opinion, part of the reduction in sales can be attributed to the condition of properties in the area. 

Almost 50% of the sales were of homes that were in Poor, Fair or Average condition and were more likely to appeal to an investor or a do-it-yourselfer looking for a home they could put a little sweat equity into.  Typically, these homes may not qualify for FHA financing unless the purchaser is willing to use an FHA 203(k) and pay a higher rate to be able to finance repairs into their mortgage.

Westwego Avondale Bridge City | Average Home Sale Prices | September 2009

Values in the 70094 zip code are holding steady, with a less than $1,000 difference between the 2008 and 2009 average sale prices.  As more homes are rehabbed, I would anticipate a slow increase in values due to improved conditions of the properties themselves.

FHA remains the financing option of choice for the majority of home buyers in Westwego, Avondale and Bridge City.  However, the large number of cash purchases indicates a fairly high level of investor activity in the community as well.  Since this has always been one of the most reasonably priced real estate markets on the West Bank, it’s not surprising to find that people are snapping up the lower price range in an attempt to either rehab and rent or flip the properties. 

Year to date, there have been 43 sales of homes for less than $75,000 in the area, making up 41% of all sales.

All data is provided by GSREIN and is deemed reliable, but not guaranteed

Related Reading

Find Westwego and Avondale homes for sale
Westwego, Avondale & Bridge City Market Reports

Home Buying Tips
Home Selling Tips

Find out what's going on in your West Bank neighborhood with this week's free market snapshot.

Do you have questions about the West Bank real estate market?  Feel free to contact the West Bank Living Team.  It would be our pleasure to assist you with any of your real estate needs.

Current real estate activity in Marrero LA 70072:

254 homes are for sale in Marrero

• High list price $2,500,000
• Low list price $24,900
• Average list price $186,682
• Median list price $149,900

56 homes are under contract or pending sale, with an average list price of $136,680

Based on the number of homes sold in September (24), there is a 10.6 month supply of homes for sale

Marrero LA 70072 | Number of Homes Sold | September 2009

Year to date, there have been 266 homes sold in Marrero, compared to 286 at the same time in 2008.  This 7% decrease in the number of home sales is typical of the current West Bank real estate market, which has seen sales slide across the area since the high point of 2006.

FHA remains the financing option chosen by the majority of home buyers in Marrero.  Why is this important?  Because 62% of the FHA buyers in September also required an average of $5,557 in assistance from the seller with their closing costs and prepaids (insurance, lender fees, etc.).  When selling your home, you need to know what concessions other sellers are making in order to successfully sell their properties.

Marrero LA 70072 | Average Home Sale Price | September 2009

Average sale prices in Marrero are down 9.5% from the 2008 average, but are running just a hair above the 2005 average.  Unless you purchased your home post-Katrina, you more than likely have built at least a little equity in it.  Of course, this varies from neighborhood to neighborhood, with some performing better than others.  Find out what's going on in your neighborhood with this week’s free market snapshot

All data is provided by GSREIN and is deemed reliable, but not guaranteed

Related Reading:

Search Marrero LA homes for sale
More Marrero Real Estate Market Updates

Home Selling Tips
Home Buying Tips

Do you have questions about the Marrero real estate market?  Contact the West Bank Living Team today for professional real estate services and advice.  It would be our pleasure to assist you.

Current real estate activity in Harvey LA 70058:

157 homes for sale

• High list price $585,000
• Low list price $20,000
• Average list price $180,021
• Median list price $155,000

70 homes are under contract or pending sale, with an average list price of $152,624

Based on the number of homes sold in September (16), there is a 9.8 month supply of homes for sale in the area.

Harvey LA 70058 | Number of Homes Sold | September 2009

Harvey has seen 147 homes sold through September 2009, compared to 200 at the same time last year (a decrease of 26.5%).   Like most other areas, the majority of Harvey home buyers are using FHA financing.  These loans require the lowest down payment possible (3.5%) and appeal to the first time home buyers who are trying to get closed before the tax credit expires at the end of November.

Of note is the fact that 44% of the September buyers received an average of $2,756 in assistance from the seller with their closing costs and prepaids.  If you are considering selling your Harvey home, be sure that the agents you talk to can provide you with adjusted sales prices to take any of this assistance into account when determining an acceptable sales price.

Harvey LA 70058 | Average Home Sale Price | September 2009

While the average sale price dropped from August to September, the year to date average is still almost 7% higher than in 2008 – a rare occurrence of increasing prices in today’s market!  Remember, though, that this average does not take into account any seller paid assistance or allowances provided to the buyers at closing and your agent should be able to provide details such as this for sales in your neighborhood.

All data provided by GSREIN and is deemed reliable, but not guaranteed

Related reading:

Harvey LA homes for sale
Harvey LA Real Estate Market Reports

Home Buying Tips
Home Selling Tips

Find out what's going on in your West Bank neighborhood with this week's free market snapshot

Questions?  Feel free to contact the West Bank Living Team for any of your real estate needs.  It would be our pleasure to assist you.