Algiers, LA 70131: April 2008 Home Sales and Real Estate Market Update

Finally, it appears that Algiers is making a slight recovery in the number of homes being sold each month.  Of course, spring is always the hot selling season on the West Bank of New Orleans, so I anticipated that sales would increase.  Here is a quick look at the current market:

• Active listings:  202 (down slightly from 4/2/2008)
• Pending but continue to show listings:  7
• Under contract listings:  31
• The number of pending and under contract listings is down slightly from 47 on 4/2/2008 to 38 on 5/1/2008

Algiers – 70131 – Number of Homes Sold, April 2008

Although 47 homes were pending sale at the beginning of April, only 22 of them actually made it to a successful close.  The most common reasons for contracts to be canceled continue to be problems uncovered during inspections and the purchaser’s inability to obtain financing. 

The number of Algiers homes sold in 2008 vs 2007 for the month of April remained stable, which is much better than the 1st quarter of the year performed.  Could this be a trend?  We’ll check back in May to see.

Algiers – 70131 – Average Home Sales Price, April 2008

Average home sale prices in Algiers have continued to rise for 3 straight months.  The April 2008 average price of $192,823 is the highest average April sale price for the last 5 years.

Remember, these statistics are for the entire 70131 zip code except for English Turn.  If you would like a report of home sales in your West Bank neighborhood, please feel free to contact me or to call me direct at 504-616-6262.

Getting Ready to Sell Your Algiers Home?  Then you should read:

5 Dos and Don’ts for Home Sellers

5 Steps to Choosing Your New Orleans West Bank Real Estate Agent

Make Your Home the Star of the Neighborhood – Stage It!

Copyright 2008.  Lisa Heindel, All rights reserved.