Algiers, LA 70131: June 2008 Home Sales and Real Estate Market Reports

Algiers LA 70131 Homes for Sale as of 7/2/2008

• This report does not include English Turn.  Read English Turn June 2008 Market Report
• 220 active listings, priced from $31,900 to $1,100,000
• 15 pending (offer accepted, but still showing) listings, priced from $26,900 to $429,000
• 27 under contract listings, priced from $35,000 to $269,900
• Based on the June number of sales in Algiers, there is a 9.2 month supply of homes for sale in zip code 70131, down slightly from the 10 month supply in May, but still higher than the 5-6 months of a balanced real estate market.

Algiers, LA 70131 Home Sales - January 2008 through June 2008

• 24 homes were sold in Algiers in June 2008
• The days on market ranged from 6 to 342, with an average of 108 days
• The second quarter of 2008 finally showed an increase in the number of home sales in Algiers, reversing the declining trend we have seen since last fall
• A significant number of scheduled closings continue to fail each month, mostly due to financing or inspection issues.  Read Why Do A Pre-Inspection When Selling Your New Orleans West Bank Home?

Algiers, LA 70131 Home Sales - 2nd Quarter 2007 through 2nd Quarter 2008

Algiers, LA 70131 Average Home Sale Prices - January 2008 through June 2008

• The average Algiers home sale price in June 2008 was $145,389, down from $161,927 in May
• The average sales price for the second quarter of 2008 was $166,713 just slightly below the first quarter average, but dropping for the 3rd quarter in a row
• The average listing price in Algiers is $196,896 (sellers should take note of this and adjust accordingly!)

Algiers, LA 70131 Average Home Sale Prices - 2nd Quarter 2007 through 2nd Quarter 2008

For a detailed market analysis of your Algiers home, contact Lisa Heindel, your West Bank real estate specialist and Algiers resident and home owner. 

Related Reading

Algiers, LA 70131- June 2008 Real Estate Absorption Rates

Algiers, LA 70131 - Historic Real Estate Market Reports

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

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.