Algiers Real Estate Market Update | August 2007
September 13, 2007 by lisa
Filed under Algiers, Blog, Market Updates
Many of my sellers are wondering (and asking me) “Why hasn’t my house sold yet?” Algiers has historically been a pretty easy place to sell real estate in, choices in schools abound, location is great, and crime is low…. what’s the problem?
It’s easy to SAY that the market has changed substantially in our post Katrina real estate environment, but the numbers prove it.
| Date of sales | Units Sold | Average Days on Market | Average Sales Price |
| 1/1/2005 - 8/1/2005 | 383 | 30 | $160,086 |
| 1/1/2006 - 8/1/2006 | 445 | 61 | $178,675 |
| 1/1/2007 - 8/1/2007 | 290 | 91 | $174,512 |
This information is provided by the Gulf South Real Estate Information Network
As of 8/1/2007, there were 366 active listings in the Algiers area, with an average list price of $235,841.
Sellers need to be aware that overpricing your home will result in it sitting on the market for a longer period of time. Buyers have so many choices in a new home that if yours is overpriced or not in prime condition, it will be passed over, often without an appointment even being made. You can’t sell it if you can’t get the buyers in the door!
Interested in selling your West Bank home? Feel free to contact me for a FREE, no obligation, market analysis of your home’s current value. Ask about my EZ Exit Listing Guarantee.
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