Algiers Point, New Orleans LA | August 2010 Home Sales and Real Estate Market Reports

Current real estate activity in Algiers Point

20 single family homes are currently listed for sale

  • High list price $389,000
  • Low list price $65,000
  • Average list price $270,895
  • Median list price $267,000

Algiers Point | New Orleans LA home sales and real estate

3 homes are under contract/pending sale, priced from $123,500 to $199,000

Based on the number of August sales (2), there is a 10 month supply of homes for sale in Algiers Point

Algiers Point | Number of Homes Sold | August 2010

Algiers Point | New Orleans LA home sales and real estate

The big picture of single family sales in the Point is that they are doing much better than in 2009.  As of the end of August, sales are up 73% over the same time last year.  However, keep it in perspective, because by August of last year 11 homes had been sold and by August of this year we’ve seen 19 sold – still not even close to the pre-Katrina sales levels.

Algiers Point | New Orleans LA home sales and real estate

Days on market is trending upwards again, ending August at an average of 106 days. However, some homes have been on and off the market, making a days on market determination difficult because the clock resets each time a property is relisted.

Algiers Point | New Orleans LA home sales and real estate

Algiers Point | Average Home Prices | August 2010

Algiers Point | New Orleans LA home sales and real estate

In addition to the increase in the number of sales, prices in the Point are up as well, with a year to date average of $233,655. This is a 14% increase over the 2009 average, but still around 10% lower than pre-Katrina values.

Additionally, the average active listing is priced at over $270k or about 14% above the current average sales price.

Get this week’s free Algiers neighborhood home value report

Algiers Point | New Orleans LA home sales and real estate

Algiers Point | New Orleans LA home sales and real estate
All data provided by GSREIN

More about homes sales in Algiers Point

With so few sales each month, let’s look at the year to date picture in the Point

  • 10% of homes sold were bank owned/foreclosures
  • 10% of homes sold were short sales
  • 30% of sellers provided a home warranty to the buyers
  • 45% of sellers paid closing cost assistance on behalf of the purchaser

Homes for sale in Algiers LA

worth_green

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-point-orleans-la-august-home-sales-real-estate-market-reports/trackback/