Algiers, LA: 70114 April 2008 Home Sales and Real Estate Market Report

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Of the 26 contracts that were pending at the beginning of the month, only 11 of them closed in Algiers (70114) in April.  I’m finding that more and more often deals are falling apart over inspection issues and lack of financing.  Also, some contracts are taking longer to close since many buyers are now using FHA financing, which typically takes a little longer to complete.

Here is a quick look at the current market in Algiers (70114):

  • Active listings:  105
  • Average list price:  $233,598
  • Pending but continue to show listings:  5  (Average list price $139,760)
  • Under contract listings:  19  (Average list price $144,847)
  • Based on April sales, there is a 9.5 month supply of homes for sale – above the 6 month supply in a balanced market

 

 

Algiers, LA 70114 – Number of Homes Sold, April 2008

 

70114 units sold

 

 

Algiers, LA 70114 – Average Home Sales Price, April 2008

 

The average sales price in the 70114 zip code rose to $154,136.  This increase can be attributed to the small increase in sales in Algiers Point, which historically has the highest priced real estate in the zip code. 

70114 avg sale price

 

Remember, this report is for the entire 70114 zip code.  For a detailed report of home sales in your Algiers neighborhood, please feel free to contact me or call me direct at (504) 616-6262.  I’d be happy to keep you up to date on the changing West Bank real estate market.

 

Related Reading:

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

Algiers, LA: April 2008 Real Estate Market Absorption Rates

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

 

Lisa Heindel

 


 

Copyright 2008.  Lisa Heindel, All rights reserved.

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  3. Algiers Point | April 2010 Home Sales and Real Estate Market Statistics

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