Algiers LA 70114: April 2009 Home Sales and Real Estate Market Reports

Current real estate activity in Algiers LA 70114:

88 homes for sale

• High list price $699,000
• Low list price $23,000
• Average list price $165,224
• Median list price $133,900

18 pending sales, priced from $37,000 to $269,900

Based on the number of homes sold in April (9), there is a 9.7 month supply of homes for sale in the area

Algiers LA 70114 – Number of Homes Sold – April 2009

The number of home sales in the 70114 section of Algiers rose again in April, for a total of 23 homes sold year to date (compared to 32 at the same time last year)

Although the numbers are increasing, the majority of the sales in the area are for homes that are in need of renovation or repairs:  3 sales in FAIR condition, 3 sales in AVERAGE condition and 3 sales in VERY GOOD condition. 

Note the lack of homes being sold in Excellent condition!  Buyers are looking for bargains and many of the homes that are in excellent condition are being passed over because they are perceived as being priced too high.  Sellers would do well to take a fresh look at activity in their neighborhood and adjust listing prices as needed to attract the most attention.

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Algiers LA 70114 – Average Home Sale Price – April 2009

The average home sale price in 70114 dropped again in April, bringing the year to date average to $97,721, down over 25% from the same time in 2008.  Most of this drop can be attributed to the slow sales in Algiers Point, which historically has the highest priced real estate in this section of Algiers. 

The investors are ruling this section of the Algiers market right now, with more than 50% of April’s sales being paid for in cash.  To round out the total, there were 2 conventional sales and 2 FHA sales.  Of those 4 sales, 75% of them saw the seller providing some sort of closing cost assistance to the buyer (an average of $2,048)

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

Related Information:

• Algiers homes for sale
  All Algiers Market Reports
  2009 First Time Home Buyer Tax Credit FAQ

Are you considering buying or selling a home in Algiers LA? The West Bank Living Team provides local, professional real estate services to buyers, sellers and military personnel relocating to and from NAS JRB New Orleans. It would be our pleasure to assist you with all of your real estate needs.