West Bank Living

Algiers, LA 70114 Homes for Sale as of 7/2/2008

• This report includes all of the Algiers zip code 70114, including Algiers Point.  Read Algiers Point June 2008 Home Sales Report for specific sales information on that area.
• 104 active listings, priced from $19,900 to $650,000
• 6 pending (offer accepted but still showing) listings, priced from $42,900 to $384,500
• 22 under contract listings, priced from $21,900 to $359,000
• Based on June 2008 sales, there is an 8 month supply of homes for sale in Algiers zip code 70114, down from the 10.3 month supply in May 2008.  The area seems to be moving closer to the balanced market supply of 5-6 months of inventory, but remember that this number changes based on the number of new listings coming on the market and the number of closed sales in the area.

Algiers, LA 70114 Home Sales - January 2008 through June 2008

• 13 homes were sold in Algiers zip code 70114 in June 2008, 5 of which were in Algiers Point.
• Days on market ranged from 7 to 194, with an average of 81 and a median of 60
• 2nd quarter 2008 home sales in Algiers (70114) showed a marked improvement over 1st quarter, more than doubling in that time period

Algiers LA 70114 Average Home Sale Prices - January 2008 through June 2008

• The average home sale price rose dramatically in June 2008, mostly due to the increase in sale in Algiers Point, which is the highest priced area in zip code 70114
• The average home sale price for the quarter continued the trend of creeping up ever so slightly to the current average of $130,645.  If sales in Algiers Point continue to hold steady or increase, we can expect to see this number rise again in the 3rd quarter.
• The average listing price in 70114 is $176,079.  While Algiers Point will always command a higher price than most of the rest of the zip code, all sellers should continue to monitor their competition and attempt to make their home the best of the bunch when marketing it.  Read Make Your Home the Star of the Neighborhood - Stage It!

Algiers LA 70114 Average Home Sale Prices - 2nd Quarter 2007 through 2nd Quarter 2008

For a detailed market analysis of your Algiers home, please contact Lisa Heindel, your West Bank real estate specialist and Algiers resident and home owner.

Related Reading

Algiers, LA 70114 - June 2008 Absorption Report

Algiers, LA 70114 - Historic Real Estate Market Reports

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

Here’s the disclaimer part:  The opinions expressed here are strictly those of the author, but you are free to share yours in the comments.  All information is deemed reliable but not guaranteed.

Copyright 2008.  Lisa Heindel, All rights reserved.

Algiers Point Homes for Sale As of 7/2/2008

• 33 Active listings, priced from $89,900 to $650,000
• 1 Pending listing (offered accepted, but still showing) priced at $384,500
• 4 Under contract listings, priced from $184,900 to $359,000
• Based on home sales in June, 2008, there is currently a 6.6 month supply of homes for sale.  This is the closest to a balanced market the Point has seen this year.

Number of single family home sales in Algiers Point - January through June 2008

Number of single family home sales in Algiers Point - 2nd Quarter 2007 through 2nd Quarter 2008

• Obviously, the 2nd quarter of 2008 showed a marked improvement over the last 2 quarters, when sales ground to almost a standstill.  With listing prices in Algiers Point continuing to drift downward, buyers have a terrific opportunity to get into this historic neighborhood at bargain rates.

Average Home Sales Price in Algiers Point - January through June 2008

• It’s important to remember that the average sale price for June is based on only 5 sales.  The smaller the number of sales, the more impact that is made on the average sale prices by each of the relatively few closed transactions.

Average Home Sales Price in Algiers Point - 2nd Quarter 2007 through 2nd Quarter 2008

• The 4th quarter of 2007 and the 1st quarter of 2008 were dominated by sales to investors rather than owner occupants.  More recent sales are showing (finally!) the gradual return of buyers who plan to live in the Point, rather than investors purchasing rental properties.
• It continues to be very important that home sellers in Algiers Point be priced right and in tip top condition for today’s discriminating buyers.

For a detailed market analysis of your Algiers Point home, please contact Lisa Heindel, your West Bank real estate specialist.

Related articles

Algiers Point, LA: June 2008 Real Estate Absorption Rates

Previous Algiers Point Real Estate Market Reports

5 Dos and Don’ts for Home Sellers

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

Here’s the disclaimer part:  The opinions expressed here are strictly those of the author, but you are free to share yours in the comments.  All information is deemed reliable but not guaranteed.

Copyright 2008.  Lisa Heindel, All rights reserved.

Here is a quick look at the current real estate market in Algiers Point.

• A balanced real estate market has on average a 5-6 month supply of homes for sale.  Typically, over 6 months of inventory indicates a buyers market.
• There is a shortage of homes priced under $180,000 in the Point.
• The $200,000-$250,000 price range has shown improvement over the last couple of months
• The over $250,000 price range remains stagnant, a problem for home sellers in Algiers Point, but an opportunity for smart buyers who are interested in living in this great historic area. 

Real Estate Absorption Rates for Algiers Point as of 6/18/2008

If you are considering selling your home in Algiers Point, it’s critical to be aware of the current market environment and to understand what competition you are facing.  For local, expert advice when selling your New Orleans West Bank home, please contact Lisa Heindel, REALTOR®.  I’d be happy to help you properly prepare and price your home for our current, challenging market. 

Related Reading:

269 Elmira Avenue, New Orleans LA - Algiers Point Home for Sale - NEW PRICE!

139 Alix Street New Orleans, LA- New Price on New Construction in Historic Algiers Point

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

Here’s the disclaimer part:  The opinions expressed here are strictly those of the author, but you are free to share yours in the comments.  All information is deemed reliable but not guaranteed.

Copyright 2008.  Lisa Heindel, All rights reserved.

Real Estate Absorption Rates for Algiers, LA 70114 as of 6/18/2008

• A balanced real estate market has on average a 5-6 month supply of homes for sale.  Typically, over 6 months of inventory indicates a buyers market.
• The under $80,000 properties are continuing, as always, to sell pretty briskly
• The $225,000-$250,000 price range has shown improvement over the last couple of months
• The over $250,000 range (most of which is in Algiers Point) continues to have an over-saturation of listings on the market.  This is unfortunate for sellers of some of the beautiful homes in this area, but certainly presents an opportunity for savvy buyers to possibly make a great deal.

If you are considering selling your home in Algiers, it’s critical to be aware of the current market environment and to understand what competition you are facing.  For local, expert advice when selling your Algiers home, please contact Lisa Heindel, REALTOR®.  I’d be happy to help you properly prepare and price your home for our current challenging market. 

Related Reading:

269 Elmira Avenue, New Orleans LA - Algiers Point Home for Sale - NEW PRICE!

139 Alix Street New Orleans, LA- New Price on New Construction in Historic Algiers Point

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

Here’s the disclaimer part:  The opinions expressed here are strictly those of the author, but you are free to share yours in the comments.  All information is deemed reliable but not guaranteed.

Copyright 2008.  Lisa Heindel, All rights reserved.

Home Sales in Algiers, LA 70114

Including Algiers Point

• 107 homes for sale as of 6/2/2008
• 22 homes pending sale or under contract (priced from $21,900 to $335,000) compared to 24 at the same time in April.  From these numbers, it appears that approximately 1/2 of the pending sales are failing to get to a closing each month.
• Based on the May home sales in 70114, there is a 10.28 month supply of homes for sale, well above the 5-6 month supply in a balanced real estate market

• Average home sale price in May 2008 was $94,000 compared to $154,136 in April 2008
• The current average home listing price is $185,782
• Most of the difference in the averages can be attributed to the inclusion of the Algiers Point area in the numbers.  A separate report for May 2008 Algiers Point home sales is available.

If you are considering selling your Algiers home, a West Bank REALTOR® who knows the market can be your best source of pricing information.  Feel free to contact Lisa Heindel for a personalized market analysis and a marketing plan to get your New Orleans West Bank home sold.

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

Here’s the disclaimer part:  The opinions expressed here are strictly those of the author, but you are free to share yours in the comments.  All information is deemed reliable but not guaranteed.

Copyright 2008.  Lisa Heindel, All rights reserved.