Current real estate activity in Algiers Point
20 single family homes are for sale in Algiers Point
- High list price $389,000
- Low list price $65,000
- Average list price $244,010
- Median list price $240,750
2 homes are under contract/pending sale, priced at $182,000 and $199,000
Based on the number of September sales (2), there is a 10 month supply of homes for sale in the Point
Algiers Point | Number of Homes Sold | September 2010
Single family home sales in the Point are up 62% from the same time last year and have now surpassed the number sold in all of 2009. The Point is one of the only West Bank communities to do this.
Don’t get too excited though, because sales are still down substantially from pre-Katrina activity in the neighborhood. With about 2 homes a month being sold consistently, it’s important for home sellers to take a hard look at their pricing and decide if they are willing to wait for their price or adjust it to try to attract those elusive buyers.
Algiers Point | Average Home Prices | September 2010
In addition to an increase in the number of sales, Algiers Point also has seen average prices climb by 7% increase, reversing a 3 year downward trend.
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While the rest of the West Bank is worried about meeting FHA loan requirements, Algiers Point is unique. Conventional financing and cash are the most common ways properties are purchased in the area. FHA and VA make up less than 25% of financing in the Point, mostly due to the age and condition of most of the homes being sold.
More about September home sales in Algiers Point
- The 2 homes sold in September were 615 Delaronde ($170,000) and 166 Pelican ($199,000)
- Both sellers provided a home warranty for the buyers
- Neither seller provided closing cost assistance
For more information about buying or selling a home in Algiers Point or any other New Orleans neighborhood, please contact the West Bank Living Team. It would be our pleasure to assist with any of your real estate needs.Google+