Happy Halloween!
October 31, 2009 by Lisa Heindel
Filed under Around Town, Family Fun
Candy and costumes…devils and decorations…pumpkins and parties…it’s Halloween in New Orleans!
If you are looking for a family friendly Halloween celebration on the West Bank, be sure to check out Gretna Goblin Night under the market at Huey P. Long and 4th Street this evening. Live music, games, prizes, trick or treating and more for kids 10 and under.
If you don’t see the video above, click here.
Halloween Safety Tips for Kids
Halloween Safety Tips for Pets
Oh, and don’t forget to set your clocks back tonight!
English Turn | September 2009 Home Sales and Real Estate Market Reports
October 26, 2009 by Lisa Heindel
Filed under English Turn, Market Updates
Current real estate activity in English Turn:
42 homes are for sale in English Turn
- High list price $1,995,000
- Low list price $395,000
- Average list price $688,392
- Median list price $557,383
3 homes are under contract or pending sale, with an average list price of $474,667
Based on the number of homes sold in September (1), there is a 42 month supply of homes for sale in the community
English Turn | Number of Homes Sold | September 2009
Year to date, there have been 18 home sales in English Turn, compared to 21 at the same time last year.
3 of this years sales have been foreclosure or bank owned properties, which are selling for about $110 per square foot compared to $132 per square foot for normal resale homes in English Turn.
English Turn | Average Home Sale Prices | September 2009
Average home sale prices in English Turn are down to $507,378 as of the end of September 2009. This is a decrease of 14% in the average sale price when compared to 2008.
My initial thought was that with so few sales, the handful of foreclosures were impacting the average prices. But removing those from the mix resulted in an average of $507,607 – a negligible change not even worth noting.
All data is provided by GSREIN and is deemed reliable, but not guaranteed
Related information:
Algiers LA homes for sale
New Orleans West Bank Homes for Sale
Home Selling Tips
Home Buying Tips
Are you considering buying or selling a home in English Turn? Feel free to contact the West Bank Living Team with any of your questions or just for a little advice. It would be our pleasure to assist you with any of your real estate needs.
Algiers LA 70131 | September 2009 Home Sales and Real Estate Market Reports
October 26, 2009 by Lisa Heindel
Filed under Algiers, Market Updates
Current real estate activity in Algiers LA 70131 (excluding English Turn):
198 homes are for sale
- High list price $895,000
- Low list price $35,000
- Average list price $188,261
- Median list price $154,950
39 homes are under contract or pending sale, with an average list price of $144,823
Based on the number of homes sold in September (25), there is a 7.92 month supply of homes for sale in the area
Algiers LA 70131 | Number of Homes Sold | September 2009
September saw the highest number of home sales in Algiers for all of 2009 AND the most homes sold since April 2008. While we are still running behind this same time last year (160 this year compared to 175 in September 2008), it does appear that the market is flattening instead of continuing the steep drops that Algiers has experienced for the last couple of years.
BUT (there’s always a but), remember that for a period of time this summer Algiers was included in the City of New Orleans soft second mortgage program for homes that suffered more than $5,200 in repaired hurricane damage. When that money ran out, showing activity softened and slowed. The majority of those allocations have now been closed, so we’ll have to keep an eye on the trends to see what impact that has on the sales numbers going forward.
Algiers LA 70131 | Average Home Sale Price | September 2009
In another bit of good news, the average home sale price in Algiers is less than $1,000 lower than the 2008 average and is almost on par with 2005 (our last normal market). The expiration of the $8,000 tax credit for first time home buyers at the end of November may impact this as well, unless the credit is extended.
The choice of financing can tell you a lot about who is purchasing in a community. FHA continues to be the choice of the majority of home buyers due to the low down payment requirements and the ability to have home sellers provide some assistance with closing costs.
So far in 2009, 53% of FHA buyers in Algiers have received closing cost assistance from sellers. The amounts ranged from a low of $2,000 to a high of $11,500. The average amount of closing cost assistance provided to FHA buyers in 2009 is $5,581 or 3.71% of the purchase price.
All data provided by GSREIN and is deemed reliable, but not guaranteed
Related information:
Home buying tips
Home selling tips
If you are considering buying or selling a home in Algiers and have a question or just need a little advice, please contact the West Bank Living Team. It would be our pleasure to assist you with any of your real estate needs.
Algiers Point | September 2009 Home Sales and Real Estate Market Reports
October 23, 2009 by Lisa Heindel
Filed under Algiers Point, Market Updates
Current real estate activity for Algiers Point:
30 homes are for sale in Algiers Point
- High list price $550,000
- Low list price $123,500
- Average list price $276,403
- Median list price $278,500
3 homes are under contract or pending sale, with an average listing price of $229,300
Based on the number of homes sold in September (2), there is a 15 month supply of homes for sale in the area
Algiers Point | Number of Single Family Home Sales | September 2009
Algiers Point has had only 13 successful single family home sales this year, compared to 28 at the same time last year – a decrease of 54% in the number of closed sales. This marks the largest decrease of any of the West Bank communities that we track.
What about financing?
The buzz this year has been all about the first time home buyer’s tax credit. Most of these first time buyers are using FHA financing to purchase their homes. Given the percentage of conventional and cash deals in the Point, there appear to be very few first time buyers moving into the area.
Algiers Point | Average Single Family Home Prices | September 2009
While there was a jump in the September average (due to one high end home selling), the year to date average home sale in Algiers Point is $225,431, up slightly from the 2008 average.
While the prices may be holding their own, the number of sales (see above) is down dramatically and apparently sellers are not getting the message. The majority of homes on the market in the Point are priced above $250,000 – the homes selling are generally not. As we move towards the end of the year, it may be time to review your pricing strategy to see if it still makes sense in today’s market.
All data is provided by GSREIN and is deemed reliable, but not guaranteed
Read more:
Home Buying Tips
Home Selling Tips
Questions about the Algiers Point real estate market? Feel free to contact the West Bank Living Team. It would be our pleasure to assist you with any of your New Orleans area real estate needs.
Algiers LA 70114 | September 2009 Home Sales and Real Estate Market Reports
October 23, 2009 by Lisa Heindel
Filed under Algiers, Market Updates
Current real estate activity in Algiers LA 70114:
104 homes are for sale
- High list price $550,000
- Low list price $22,500
- Average list price $162,589
- Median list price $139,450
13 homes are pending sale or under contract, with an average list price of $134,992
Based on the number of homes sold in September (7), there is a 14.85 month supply of homes for sale in the area
Algiers LA 70114 | Number of Homes Sold | September 2009
Year to date, there have been 58 successful single family home sales in the 70114 zip code of Algiers, compared to 89 at the same time last year. This decrease of 35% is one of the largest on the West Bank, making Algiers the hardest hit areas for declining home sales.
While reduced sales in Algiers Point have had an impact, the condition of properties being sold is also an issue, with a substantial number of homes in Poor, Fair and Average condition being marketed.
A large percentage of the 2009 sales in the area have been to cash buyers, and a review of those sales indicates that a large number of them are to investors and buyers who are willing to take on a fixer-upper. It remains to be seen if these properties will come back on the market as renovations or if they are being held as rental units and personal residences. 
Algiers LA 70114 | Average Home Sale Price | September 2009
Prices have taken a hit as well – they are down 14% from 2008. Although much of this can be attributed to fewer sales in Algiers Point, which typically has the highest priced real estate in the zip code, the large percentage of homes in need of repair is pushing prices downward as well.
If you are considering selling your Algiers home, be sure that your agent is pricing it to compete with other homes in the same condition rather than just using the average sale price.
All data provided by GSREIN and is deemed reliable, but not guaranteed
Read more at:
Algiers LA homes for sale
Algiers Point real estate market updates
Home Buying Tips
Home Selling Tips
Have a question about buying or selling a home on the West Bank? Contact the West Bank Living Team. It would be our pleasure to assist you with any of your real estate needs.
