Algiers LA 70131 | September 2011 Home Sales

Real estate activity in Algiers LA 70131

  • 163 single family homes are for sale, priced from $24,900 to $825,000
  • 40 homes are under contract, priced from $20,000 to $349,500
  • 19 homes were sold in September and the average sale had 4 bedrooms, 2 baths, 2104 square feet and sold for $127,884 (or 58.69 per square foot).
  • The high sale in September was $240,000 or $80.65 per square foot
  • The low sale in September was $22,000 or $12.75 per square foot

Homes sold in Algiers LA 70131

As of the end of September, there have been 198 homes sold in Algiers.  We’ve already surpassed the number of 2010 sales, so the activity is moving in the right direction.  The downside is the continued decrease in average prices in the community, as buyers are on the hunt for bargains and there are always some sellers who want out badly enough to negotiate what turns out to be a great price for the buyer but in turn pulls down the neighborhood average.  We have seen a substantial increase in the number of sellers offering closing cost assistance to buyers in order to make a deal work.

Algiers LA homes for sale

Algiers LA 70131 number of homes soldHome prices in Algiers LA 70131

Home prices have continued to decline in the 70131 zip code, ending September at an average of $129,330 – a drop of over 8% from last year.  Much of the change in average sale prices can be attributed to the increase in distressed sales (foreclosures and short sales), which have gone up 7% from 2010.  While these distressed properties only make up about 8% of currently available homes, they account for 40% of the area sales.

When pricing your Algiers home, get the latest comparable information before deciding on the best price point to position your home for the quickest sale at the highest price.

Algiers LA 70131 average home prices

More about real estate in Algiers LA 70131

  • 40% of homes sold this year have been foreclosures or short sales (up from 33% last year)
  • 32% of sellers provided home warranties (down from 34% last year)
  • 40% of sellers provided closing cost assistance to the buyer (up from 30% last year)

 

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-september-home-sales-2/trackback/