LEASED! Terrytown Home for Rent | 739 Grinell Gretna LA 70056
November 30, 2009 by Lisa Heindel
Filed under Featured Listings, We Sold It!
Available for immediate occupancy, come check out this terrific single family West Bank home for rent in the heart of Terrytown. Easy commute to downtown New Orleans, NSA New Orleans and NAS JRB New Orleans. Why live in an apartment when you can have the privacy of a home, right down to the large backyard.
- 3 bedrooms
- 2 baths
- $1,300 per month rent
- $1,300 security deposit
- No pets allowed
Applications for tenants are now being accepted, including Section 8 applicants. Please contact the West Bank Living Team for more information.
Algiers LA 70131 | October 2009 Home Sales and Real Estate Market Reports
November 30, 2009 by Lisa Heindel
Filed under Algiers, Market Updates
Current real estate activity in Algiers LA 70131 (excluding English Turn)
193 homes are for sale
- High list price $895,000
- Low list price $35,000
- Average list price $179,482
- Median list price $152,000
30 homes are under contract or pending sale, priced from $27,500 to $279,000
Based on the number of homes sold in October (22), there is a 8.8 month supply of homes for sale in the area
Algiers LA 70131 | Number of Homes Sold | October 2009
With few exceptions, the 70131 zip code of Algiers has averaged about 15 homes sold per month. Year to date there have been 182 homes sold, compared to 187 at this same time last year.
Although it’s not as many sales as home sellers would wish for, it is at least an indicator that this portion of the Algiers market may be beginning to stabilize.
Algiers LA 70131 | Average Home Sale Price | October 2009
While the number of sales may be stabilizing, the average home prices are continuing to drop, ending October at $153,246 (a decrease of just over 6% from the 2008 average).
Some of this can be attributed to the 13% of sales that were homes in Fair or Poor condition, which will always go for a lower price. Also, homes that have not been updated are having a tough time competing with those that feature all of the bells and whistles that today’s buyers are looking for. Spending a little money on needed upgrades to your home can result in a higher sales price.
With a median list price of $152,000 (meaning half of the home prices are higher and half are lower), it appears that sellers in Algiers are becoming more realistic about the real estate market they are facing.
Find out what’s going on in your West Bank neighborhood with this week’s free market snapshot.
All data 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 buying tips
Home selling tips
If you are considering buying or selling a New Orleans West Bank home, please contact the West Bank Living Team. With dedicated buyer and seller agents, we would be pleased to assist you with any of your real estate needs.
Algiers LA 70114 | October 2009 Home Sales and Real Estate Market Reports
November 30, 2009 by Lisa Heindel
Filed under Algiers, Market Updates
Current real estate activity in Algiers LA 70114 (including Algiers Point):
95 homes are for sale in the 70114 zip code
- High list price $550,000
- Low list price $22,500
- Average list price $160,307
- Median list price $130,000
17 homes are under contract or pending sale, priced from $28,000 to $399,000
Based on the number of homes sold in October (3), there is a 2.64 YEAR supply of homes for sale in the area, the highest inventory on the West Bank.
Algiers LA 70114 | Number of Homes Sold | October 2009
Sales in the 70114 zip code dipped to 3 in October bringing the year to date total to 61, compared to 99 at the same time last year. Much of this decrease is due to lower home sales in Algiers Point.
Also, nearly half of the homes sold this year have been in average or fair condition, indicating that they either needed updating or remodeling, a market ripe for investors that haven’t been investing. The difficulty in flipping investment properties in the area due to the low number of sales means that it’s harder to convince someone to purchase and renovate for resale.
Algiers LA 70114 | Average Home Sale Price | October 2009
The average sale price for 2009 in the 70114 area of Algiers is $111,845, down almost 15% from the 2008 average (which was down substantially from the 3 previous years as well). Again, most of this decline is due to the low number of sales in Algiers Point, which historically has increased the average price of the zip code.
With a substantial inventory of homes for sale, it is definitely a buyer’s market.
All data 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 buying tips
Home selling tips
If you are considering buying or selling a home on the West Bank of New Orleans, please contact the West Bank Living Team. We have dedicated listing and buyer agents who would be happy to help with any of your real estate needs.
Algiers Point | October 2009 Home Sales and Real Estate Market Reports
November 28, 2009 by Lisa Heindel
Filed under Algiers Point, Market Updates
Current real estate activity in Algiers Point:
27 homes are for sale in Algiers Point (single family only)
- High list price $550,000
- Low list price $123,500
- Average list price $270,870
- Median list price $251,900
5 single family homes are under contract or pending sale, priced from $129,900 to $399,000
Based on the number of homes sold in October (1), there is a 27 month supply of homes for sale in the area
Algiers Point | Number of Homes Sold | October 2009
Home sales in Algiers Point continue to lag behind the rest of the West Bank, with only 14 single family homes sold in the community this year, compared to 29 at the same time last year (a decrease of almost 52%).
What is impacting home sales in the area? I think it is a variety of factors, but a large one is the difficulty in obtaining conventional financing for many people. Between the price range of many of the homes in the Point (higher than FHA limits) and the fact that many require updating and renovation to bring them into compliance with current codes, the most popular financing is a conventional loan. However, the lending guidelines for conventional loans have been tightened substantially in the last couple of years, making it harder for even very good credit risks to get these loans.
Algiers Point | Average Home Sale Price | October 2009
The average sale price has predictably jumped around from month to month given the small number of sales. However, the year to date average sale price of $215,757 is less than $4,000 lower than the average price in 2008.
While prices seem to be stabilizing, it’s still fairly difficult to sell a home in the Point with so few buyers in the market. Find out what’s going on in your West Bank neighborhood with this week’s free market snapshot.
All data provided by GSREIN and is deemed reliable, but not guaranteed.
Related Information:
Algiers Homes for Sale
New Orleans West Bank Homes for Sale
Home Buying Tips
Home Selling Tips
If you are considering buying or selling on the West Bank of New Orleans, please contact the West Bank Living Team. With dedicated listing/marketing and buyer agents, we are prepared to assist you with any of your real estate needs.
English Turn | October 2009 Home Sales and Real Estate Market Reports
November 27, 2009 by Lisa Heindel
Filed under English Turn, Market Updates
Current real estate activity in the English Turn subdivision of Algiers LA:
32 homes are for sale in English Turn
- High list price $1,995,000
- Low list price $395,000
- Average list price $678,421
- Median list price $549,000
5 homes are pending sale or under contract, priced from $395,000 to $522,000
Based on the number of homes sold in October (4), there is an 8 month supply of homes for sale in the area
English Turn | Number of Homes Sold | October 2009
October looked like spring in English Turn, recording 4 sales for only the second time this year. Year to date, there have been 22 homes sold, an average of 2.2 homes per month. This puts English Turn on track to perform at about the same rate of sales as last year.
Is it the bottom? Only time will tell, as the community is in the slowest sales period over the last 5 years. Overall, sales on the West Bank of New Orleans seem to be stabilizing in most, but not all, communities.
English Turn | Average Home Sale Price | October 2009
The year to date average home sale price in English Turn is now at $501,564, down 15% from the 2008 average. List prices, however, continue to track along the 2005 average, indicating that some sellers are in for either a long marketing period (for the extreme high end) or disappointment (for those that are just overpriced for their homes condition).
Find out what’s going on in your West Bank neighborhood with this week’s free market snapshot.
All data provided by GSREIN and is deemed reliable, but not guaranteed.
Related information:
Algiers Homes for Sale
New Orleans West Bank Homes for Sale
Home Buying Tips
Home Selling Tips
If you are considering buying or selling a home on the West Bank of New Orleans, please contact the West Bank Living Team. We have specialists in home sales/marketing and buyer representation ready to assist you with any of your real estate needs.
