Real estate activity in Algiers LA 70114
There are 100 single family homes for sale in Algiers, priced from $17,000 to $860,000. The average listing features 3 bedrooms, 2 baths, 1687 square feet, has been on the market for 160 days and is priced at $131,421 (or $78.35 per square foot). Average prices in the area are often not a reliable indicator of value due to the face that Algiers Point homes, which sell for a higher average, skew the numbers. Get your neighborhood value here
21 homes are under contract, priced from $16,500 to $239,900, with an average list price of $82,424 (or $56.88 per square foot). These homes were on the market for an average of 171 days.
Homes sold in Algiers LA 70114
In July, there were 6 homes sold in the 70114 zip code, bringing the year to date total to 51. This is a 15% decline in the number of sales from the same time last year. The average 2011 sale price in the community is $95,952, a 7% decline from the 2010 average. Much of this decline can be attributed to foreclosures, which have made up almost 53% of home sales in this area of the West Bank. I’m still hopeful that as the number of jobs at Federal City increases, we will see a corresponding increase in sales in the surrounding areas. However, unless sellers are willing to price for an investor, then properties need to be in tip top condition to grab the attention of buyers who are often not familiar with our older and historic housing.
As the number of foreclosures has increased, the number of sellers providing home warranties has dropped to 15.69% and the sellers willing to provide closing cost assistance has dropped to the same number. Cash is the primary purchasing method, which is not unusual given the condition and pricing of many of the foreclosures in the area.
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All data provided by GSREIN and is deemed reliable, but not guaranteed
To schedule a showing for any Algiers home for sale, please call Terri Babineaux at 504.258.5178.Google+