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.
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