Algiers Point, LA: June 2008 Home Sales and Real Estate Market Report
July 3, 2008 by lisa
Filed under Algiers Point, Blog, Market Updates
Algiers Point Homes for Sale As of 7/2/2008
- 33 Active listings, priced from $89,900 to $650,000
- 1 Pending listing (offered accepted, but still showing) priced at $384,500
- 4 Under contract listings, priced from $184,900 to $359,000
- Based on home sales in June, 2008, there is currently a 6.6 month supply of homes for sale. This is the closest to a balanced market the Point has seen this year.
Number of single family home sales in Algiers Point - January through June 2008
Number of single family home sales in Algiers Point - 2nd Quarter 2007 through 2nd Quarter 2008
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Obviously, the 2nd quarter of 2008 showed a marked improvement over the last 2 quarters, when sales ground to almost a standstill. With listing prices in Algiers Point continuing to drift downward, buyers have a terrific opportunity to get into this historic neighborhood at bargain rates.
Average Home Sales Price in Algiers Point - January through June 2008
- It’s important to remember that the average sale price for June is based on only 5 sales. The smaller the number of sales, the more impact that is made on the average sale prices by each of the relatively few closed transactions.
Average Home Sales Price in Algiers Point - 2nd Quarter 2007 through 2nd Quarter 2008
- The 4th quarter of 2007 and the 1st quarter of 2008 were dominated by sales to investors rather than owner occupants. More recent sales are showing (finally!) the gradual return of buyers who plan to live in the Point, rather than investors purchasing rental properties.
- It continues to be very important that home sellers in Algiers Point be priced right and in tip top condition for today’s discriminating buyers.
For a detailed market analysis of your Algiers Point home, please contact Lisa Heindel, your West Bank real estate specialist.
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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.
[...] report includes all of the Algiers zip code 70114, including Algiers Point. Read Algiers Point June 2008 Home Sales Report for specific sales information on that [...]