Westwego, LA

Current real estate activity in Westwego, Avondale and Bridge City:

149 homes are listed for sale

• High list price $325,000
• Low list price $32,900
• Average list price $119,887
• Median list price $109,900

37 homes are under contract or pending sale, priced from $19,900 to $223,900

Based on the number of April sales (11), there is a 13.5 month supply of homes for sale in the 70094 zip code

Westwego, Avondale and Bridge City | Number of Homes Sold | April 2010

As of the end of April, there have been 36 single family homes sold in the 70094 zip code (Westwego, Avondale, Bridge City and Waggaman). This is a decrease of 26% from the 49 that were sold by this point in 2009. With 37 homes pending sale, I expect this to balance out over the next couple of months as the buyers taking advantage of the tax credit close by June 30th. After that point, all bets are off until we see what impact the end of the credit has on the local market.

Days on market has dropped slightly to 79 days, but with the average active listing already on the market for 124 days, we can expect this number to go up as the year progresses.

Westwego, Avondale and Bridge City | Average Home Sale Prices | April 2010

Average prices took a dip in April, mostly due to the high percentage of foreclosures that were sold. Year to date, the average single family home in Westwego sold for $108,483, still higher than the last couple of years.

More about April sales in the 70094 zip code:

• 55% of the homes sold were bank owned/foreclosure properties
• 18% of sellers paid for a home warranty for the buyers
• 18% of sellers provided some type of closing cost assistance to the purchaser
• FHA remains the most popular financing choice, with cash running a pretty close second due to the number of properties in fair or poor condition that are more appealing to investors

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

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This post originally published at West Bank Living

Once again, I missed the opening of the 2010 summer concerts at the farmer’s market in Westwego. One day, I’ll get it together and be there for the first one, but in the meantime there is a great line up of fun and music scheduled all the way into July.

My favorite moment of the 2009 series was when Waylon Thibodeaux performed Matilda. Old school, but so much fun.

Can’t see the video? Click here

Each Friday evening, you can bring your lawn chair or blanket and your dancing shoes out to the market for the free concerts. Food and drink are being sold on site, so leave the ice chest at home. Family friendly and a fun way to kick off the weekend, here’s the music line up:

May 21 Michael Carballo and Esplanade
May 28 Aaron Foret
June 4 Skeeter and the Swamp Pop Band
June 11 Crescent City Hitmen
June 18 Treater
June 25 Empire Blues Band
July 2 Jr. & Sumptin Sneaky

Concerts last from 7-10 pm, but you can get there early to grab the best spots. Don’t you love living on the West Bank? Have fun!

The Farmer and Fisheries Market is located at 484 Sala Avenue, Westwego, LA

Current real estate activity in Westwego, Avondale and Bridge City:

150 single family homes are for sale

• High list price $330,000
• Low list price $19,900
• Average list price $125,855
• Median list price $116,500

28 homes are under contract or pending sale, priced from $20,000 to $190,000

Based on the number of homes sold in March (9), there is a 16.7 month supply of homes for sale in the 70094 zip code

Westwego, Avondale and Bridge City | Number of Homes Sold | March 2010

Year to date, there have been 25 single family home sales in the 70094 zip code (Westwego, Avondale, Bridge City and Waggaman) compared to 35 at the same time last year.

• 20% of the sales have been homes in Poor or Fair condition, which typically attract investors with the cash to make the necessary repairs and/or renovations
• The average home sold in 2010 had 3 bedrooms, 2 baths and 1,564 square feet of living area
• The average price per square foot in the 70094 zip code is $75

Days on market is remaining steady, holding at 82. Homes currently listed and under contract have been on the market longer than the average, so expect to see this number go up as the year progresses, especially since the number of sales has dropped off from 2009.

Westwego, Avondale and Bridge City | Average Home Sale Prices | March 2010

The average single family sold for $122,33 in March, bringing the year to date average to $123,556. Most of the increase in sales prices can be attributed to a handful of sales over $200,000. With only 25 homes sold, these higher end sales have a greater impact on the averages.

Your neighborhood may be performing better or worse than the average, so get this week's free home value report for your neighborhood for the latest listings and sales in your area.

More about March 2010 homes sales in Westwego, Avondale, Bridge City and Waggaman

• 33% of homes sold in March were bank owned or foreclosure properties
• 44% of sellers provided some sort of closing cost assistance to the buyers
• 56% of sellers paid for a home warranty for the purchasers
• FHA remains the most popular financing method of buyers, making up 48% of sales

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

You might also be interested in:

• 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

Current real estate activity in Westwego LA:

143 single family homes are for sale

• High list price $330,000
• Low list price $20,900
• Average list price $127,934
• Median list price $115,000

26 homes are pending sale or under contract, priced from $20,000 to $185,000

Based on the number of homes sold in February (8), there is a 17.9 month supply of Westwego homes for sale

Westwego, Avondale and Bridge City LA 70094 | Number of Single Family Homes Sold | February 2010

Home sales in the 70094 zip code remained flat from January to February 2010, bringing the year to date number of single family home sales to 16. Sales are down from 21 at the same time last year, a decrease of 24% in the number of successful sales.

Days on market has crept up to 97 for sold homes. The average days on market for active listings is 127, so I would expect that number to continue to rise this year as some of the older inventory is sold off.

Westwego, Avondale and Bridge City LA 70094 | Average Single Family Home Prices | February 2010

While the number of sales is down from 2009, average single family home prices in Westwego, Avondale and Bridge City have risen to $124,244. A quick look at the chart below shows that this is the highest average for several years. Remember, though, that this average is for only 2 months of sales and will be impacted by home sales as the year progresses.

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

More details about February 2010 home sales in the 70094 zip code:

• FHA loans and cash are the most popular purchase options in Westwego, Avondale and Bridge City. Cash is typically used by investors purchasing properties to renovate or flip, while FHA is the financing option of choice for most of today’s buyers.
• 37.5% of February sales were bank owned or foreclosed properties
• 12.5% of sellers provided some type of closing cost assistance to the buyers
• No sellers in the area provided a home warranty in February

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

Related Reading:

• Home buying tips
• Home selling tips
• Homes for sale in Westwego, Avondale and Bridge City LA

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

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

Related Articles:

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