Since Algiers Point is such a unique part of the community, I’ve prepared a separate absorption report for the area.
Algiers Point Real Estate Absorption Report
The overall supply of homes for sale in Algiers Point has come down from the 22.4 months observed in the April absorption report to the current 12.2 month supply, due to an increase in recent sales in the area. It is important to remember that this number will fluctuate dependant upon how many homes are listed from month to month in addition to recent sales. The number of listings is currently staying steady while the number of sales has increased slightly – this is a good thing!
Homes priced over $250,000 are still selling slowly. As you can see in the chart below, there has been only one sale of a home priced over $250,000 in the last 90 days. However, there are currently 3 pending sales in Algiers Point with listing prices ranging from $269,000-$379,000, indicating a slight increase in interest in the area by upper end buyers.
Data provided by GSREIN and is deemed reliable, but not guaranteed.
If you would like a detailed report of new listings and sales of homes in your neighborhood, sign up for Market Snapshot – a FREE report delivered directly via email each month. It’s a great way to keep you up to date with your piece of the Algiers Point real estate market.
Related Reading:
Algiers Point, LA: April 2008 Home Sales and Real Estate Market Update
5 Steps to Choosing Your New Orleans West Bank Real Estate Agent
Make Your Home the Star of the Neighborhood – Stage It!
139 Alix Street New Orleans, LA: New Price on New Construction in Historic Algiers Point
Here’s the disclaimer part: The opinions expressed here are strictly those of the author, but you are free to share yours in the comments. All information is deemed reliable but not guaranteed,
Copyright 2008. Lisa Heindel, All rights reserved.
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