Current real estate activity in Algiers LA 70131 (excluding English Turn):
166 homes for sale
- High list price $895,000
- Low list price $27,900
- Average list price $200,788
- Median list price $169,000
72 homes are pending sale, priced from $42,900 to $400,000
Based on the number of homes sold in April (19), there is a 8.7 month supply of homes for sale in the area
Algiers LA 70131 – Number of Homes Sold – April 2009
Home sales in Algiers 70131 remained fairly steady from March to April, bringing the year to date number of houses sold to 57 (compared to 72 at the same time last year). Taking out the 2006 sales (a post Katrina anomaly) it’s apparent that sales in the community have been dropping each year.
What’s selling in Algiers?
Here’s a breakdown of the April 2009 sales:
- 9 three bedroom homes, at an average sale price of $109,500 (median $123,000)
- 8 four bedroom homes, at an average sale price of $188,437 (median $188,250)
- 2 five bedroom homes, at an average sale price of $188,337 (median $188,337)
- Homes sold in April were on the market an average of 116 days (150 days year to date)
The average list prices are still running a little high compared to the average sale prices, so sellers, as always, are encouraged to find out what’s going on in your West Bank neighborhood with a free online market analysis. The numbers don’t lie and to be competitive in this market, you need all of the information available to be sure your home is priced right.
Algiers LA 70131 – Average Home Sale Price – April 2009
Algiers ended April 2009 with an average sale price of $151,035 (compared to $183,407 in April 2008). Again, we are continuing to see a decline from year to year as shown in the chart below. Financing remains our #1 hurdle, with the increase in FHA down payments leading to an increase in the number of buyers requesting closing cost assistance from sellers.
In April, 37% of sellers provided an average of $5,504 in closing cost assistance to the buyers. Another 26% provided a repair allowance in addition to the buyer assistance. As you review offers on your home, be sure that you are comparing your offer with the adjusted sales prices of homes that gave these type of concessions to the purchasers.
All data provided by GSREIN and is deemed reliable, but not guaranteed
Related Information:
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.
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