Algiers LA 70131 | October 2009 Home Sales and Real Estate Market Reports

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.