Algiers, LA 70114: May 2008 Real Estate Absorption Report

It’s the middle of the month already…time to take a look at the absorption rates across the West Bank.

 

Algiers, LA  70114

(This report is for the entire 70114 zip code, including Algiers Point)

 

The overall supply of homes for sale in zip code 70114 has come down from the 13.9 months observed in April to the current 10.3 month supply, which is really good news for home sellers in the price ranges that are selling.

 

Homes priced over $250,000 are still selling slowly, impacting the market in Algiers Point which typically has the highest prices in the zip code.  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 70114 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 Latter & Blum REALTORS® and is deemed reliable, but not guaranteed.

 

Remember, this report is for the entire 70114 zip code.  If you would like a personalized report for your home and neighborhood, please contact Lisa Heindel, REALTOR®.  I’d be happy to help keep you up to date with your piece of the Algiers real estate market.

 

 

Related Reading:

Algiers Point: May 2008 Real Estate Absorption Report

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

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

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

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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.