Algiers LA 70114 | March 2012 Home and Real Estate Sales

Algiers LA 70114 Real Estate Activity

94 single family homes for sale

  • High list price $860,000
  • Low list price $15,200
  • Average list price $112,644
  • Median list price $78,750

23 homes under contract/pending sale

  • High list price $280,000
  • Low list price $22,500

Based on first quarter sales, there is an 18 month supply of homes for sale in the 70114 zip code.

Homes sold in Algiers 70114

As of the end of the first quarter of 2012, home sales increased by 87% over the first quarter of 2011, ending at 15 successful sales.  While this is a huge increase on a percentage basis, the majority of sales are of properties in lesser condition that appear to be attracting the interest of investors in the area.  This makes sense, because they more than likely banking on the future expansion of Federal City driving real estate prices in this part of Algiers.  It remains to be seen whether they remodel and sell or if they are choosing to hold as rentals while watching for a change in the market.

Single family homes sold in New Orleans LA 70114

Home prices in Algiers 70114

Because so many of the sales this year have been either foreclosures or homes in need of a great deal of repair, the average prices have dropped substantially.  The highest priced home sold in the first quarter was for $205,000, while the lowest priced home sold for $25,500.  Obviously, homes at such a low price point have the effect of dragging down the averages.  It’s important for home owners who are considering selling to get a market analysis on their particular property instead of relying on the average for the entire community.

Average single family home price in New Orleans LA 70114

More about Algiers LA 2012 home sales

  • Average days on market is 79
  • 60% of buyers are paying cash
  • 53% of properties sold were foreclosures
  • 7% of sellers provided a home warranty
  • 13% of sellers provided closing cost assistance to the buyers

All data provided by GSREIN and is deemed reliable, but not guaranteed

There are no comments yet. Be the first and leave a response!

Leave a Reply

Wanting to leave an <em>phasis on your comment?

Trackback URL http://westbankliving.com/market-updates/algiers-la-march-home-real-estate-sales/trackback/