Algiers Point LA: July 2008 Home Sales and Real Estate Market Reports

Current market activity for Algiers Point as of 8/5/2008:

• 21 active listings, priced from $82,000 to $590,000 (average list price $294,593)
• 2 under contract listings, priced from $184,900 to $359,000
• Based on July sales, there is a 10.5 month supply of homes for sale in Algiers Point, back up from last month’s estimate of 6.6 months. 

Again in July, some sellers chose to take their houses off of the market, reducing the available listings from 33 to the current 21.  I suspect that many of these sellers have decided to stay put for awhile rather be a part of the slow sales market that the Point has been experiencing for the last year. 

Algiers Point - Number of Single Family Home Sales July 2008

• The average sale price in Algiers Point in July 2008 was $253,500, up slightly from $246,000 in June.
• The year to date average sale price in the Point is $193,402

With the current average listing price at $294,593, home sellers in Algiers Point have two options:  (1) reduce their listing price further in an attempt to capture the few buyers in the area or (2) remain patient while the market continues to work itself out.

Algiers Point - Average Single Family Home Sales Price July 2008

For a detailed market analysis of your Algiers Point home, please contact Lisa Heindel, your West Bank real estate specialist.

Related Reading:

• Algiers Point LA- July 2008 Real Estate Absorption Report
• Previous Real Estate Market Reports for Algiers Point
• Choosing a Tech Savvy REALTOR® to Sell Your West Bank Home

All information provided by GSREIN and is deemed reliable but not guaranteed.