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

June 3, 2008 by lisa
Filed under Algiers, Blog, Market Updates

Home Sales in Algiers, LA 70114

Including Algiers Point

107 homes for sale as of 6/2/2008
22 homes pending sale or under contract (priced from $21,900 to $335,000) compared to 24 at the same time in April. From these numbers, it appears that approximately 1/2 of the pending sales are failing to get to a closing each month.
Based on the May home sales in 70114, there is a 10.28 month supply of homes for sale, well above the 5-6 month supply in a balanced real estate market

Average home sale price in May 2008 was $94,000 compared to $154,136 in April 2008
The current average home listing price is $185,782
Most of the difference in the averages can be attributed to the inclusion of the Algiers Point area in the numbers. A separate report for May 2008 Algiers Point home sales is available.

If you are considering selling your Algiers home, a West Bank REALTOR® who knows the market can be your best source of pricing information. Feel free to contact Lisa Heindel for a personalized market analysis and a marketing plan to get your New Orleans West Bank home sold.

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.