West Bank Living

Algiers Point Homes for Sale As of 7/2/2008

• 33 Active listings, priced from $89,900 to $650,000
• 1 Pending listing (offered accepted, but still showing) priced at $384,500
• 4 Under contract listings, priced from $184,900 to $359,000
• Based on home sales in June, 2008, there is currently a 6.6 month supply of homes for sale.  This is the closest to a balanced market the Point has seen this year.

Number of single family home sales in Algiers Point - January through June 2008

Number of single family home sales in Algiers Point - 2nd Quarter 2007 through 2nd Quarter 2008

• Obviously, the 2nd quarter of 2008 showed a marked improvement over the last 2 quarters, when sales ground to almost a standstill.  With listing prices in Algiers Point continuing to drift downward, buyers have a terrific opportunity to get into this historic neighborhood at bargain rates.

Average Home Sales Price in Algiers Point - January through June 2008

• It’s important to remember that the average sale price for June is based on only 5 sales.  The smaller the number of sales, the more impact that is made on the average sale prices by each of the relatively few closed transactions.

Average Home Sales Price in Algiers Point - 2nd Quarter 2007 through 2nd Quarter 2008

• The 4th quarter of 2007 and the 1st quarter of 2008 were dominated by sales to investors rather than owner occupants.  More recent sales are showing (finally!) the gradual return of buyers who plan to live in the Point, rather than investors purchasing rental properties.
• It continues to be very important that home sellers in Algiers Point be priced right and in tip top condition for today’s discriminating buyers.

For a detailed market analysis of your Algiers Point home, please contact Lisa Heindel, your West Bank real estate specialist.

Related articles

Algiers Point, LA: June 2008 Real Estate Absorption Rates

Previous Algiers Point Real Estate Market Reports

5 Dos and Don’ts for Home Sellers

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

Here’s the disclaimer part:  The opinions expressed here are strictly those of the author, but you are free to share yours in the comments.  All information is deemed reliable but not guaranteed.

Copyright 2008.  Lisa Heindel, All rights reserved.

Here is a quick look at the current real estate market in Algiers Point.

• A balanced real estate market has on average a 5-6 month supply of homes for sale.  Typically, over 6 months of inventory indicates a buyers market.
• There is a shortage of homes priced under $180,000 in the Point.
• The $200,000-$250,000 price range has shown improvement over the last couple of months
• The over $250,000 price range remains stagnant, a problem for home sellers in Algiers Point, but an opportunity for smart buyers who are interested in living in this great historic area. 

Real Estate Absorption Rates for Algiers Point as of 6/18/2008

If you are considering selling your home in Algiers Point, it’s critical to be aware of the current market environment and to understand what competition you are facing.  For local, expert advice when selling your New Orleans West Bank home, please contact Lisa Heindel, REALTOR®.  I’d be happy to help you properly prepare and price your home for our current, challenging market. 

Related Reading:

269 Elmira Avenue, New Orleans LA - Algiers Point Home for Sale - NEW PRICE!

139 Alix Street New Orleans, LA- New Price on New Construction in Historic Algiers Point

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

Here’s the disclaimer part:  The opinions expressed here are strictly those of the author, but you are free to share yours in the comments.  All information is deemed reliable but not guaranteed.

Copyright 2008.  Lisa Heindel, All rights reserved.

Real Estate Absorption Rates for Algiers, LA 70114 as of 6/18/2008

• A balanced real estate market has on average a 5-6 month supply of homes for sale.  Typically, over 6 months of inventory indicates a buyers market.
• The under $80,000 properties are continuing, as always, to sell pretty briskly
• The $225,000-$250,000 price range has shown improvement over the last couple of months
• The over $250,000 range (most of which is in Algiers Point) continues to have an over-saturation of listings on the market.  This is unfortunate for sellers of some of the beautiful homes in this area, but certainly presents an opportunity for savvy buyers to possibly make a great deal.

If you are considering selling your home in Algiers, it’s critical to be aware of the current market environment and to understand what competition you are facing.  For local, expert advice when selling your Algiers home, please contact Lisa Heindel, REALTOR®.  I’d be happy to help you properly prepare and price your home for our current challenging market. 

Related Reading:

269 Elmira Avenue, New Orleans LA - Algiers Point Home for Sale - NEW PRICE!

139 Alix Street New Orleans, LA- New Price on New Construction in Historic Algiers Point

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

Here’s the disclaimer part:  The opinions expressed here are strictly those of the author, but you are free to share yours in the comments.  All information is deemed reliable but not guaranteed.

Copyright 2008.  Lisa Heindel, All rights reserved.

Home sale information for Algiers Point, May 2008

• 38 homes currently for sale in Algiers Point, compared to 36 in April 2008
• 1 sold listing in May, 2008.  At this rate of sales there is more than a 3 year supply of homes for sale in Algiers Point.
• 5 homes are under contract or pending sale as of 6/2/2008

• The average sale price in Algiers Point for May 2008 was $154,000.  With only one sale though, it cannot truly be used as an indicator of the true average sale prices in the area.  The year to date average sale price for the Point is $165,228.
• The average list price in Algiers Point is $296,025
• The average days on market for May 2008 was 153, while the year to date average days on market in the Point is 83.

Unfortunately, sales in Algiers Point continue to be among the slowest on the entire West Bank.  Aggressive pricing by some sellers has still not resulted in a sale.  This won’t be a popular view, but if you don’t HAVE to sell your home in the Point, I would recommend taking it off of the market.  Enjoy your home without having to be prepared at all times for those rare showings.  However, if you must sell your Algiers Point home, be sure you are working with an experienced West Bank REALTOR®.

Related reading:

5 Steps to Choosing Your New Orleans West Bank Real Estate Agent

When buying or selling a home on the West Bank of New Orleans or relocating to the New Orleans West Bank, you deserve local expertise and advice. Lisa Heindel provides full time, professional real estate services to buyers, sellers and military transferees in Algiers, Algiers Point, Belle Chasse, Gretna, Terrytown, Harvey, Marrero, Westwego and more.

Here’s the disclaimer part:  The opinions expressed here are strictly those of the author, but you are free to share yours in the comments.  All information is deemed reliable but not guaranteed.

Copyright 2008.  Lisa Heindel, All rights reserved.

What a fabulous opportunity and price to live in Algiers Point!  Be a part of a real community, where neighbors sit on their porches and wave as you walk by.

Newly priced at $259,000, this beautiful Acadian style single is just perfect.  Loads of historic details with just the right touches of modern conveniences.  Oh, and there’s a front porch too.

Here’s the disclaimer part:  The opinions expressed here are strictly those of the author, but you are free to share yours in the comments.  All information is deemed reliable but not guaranteed.

Copyright 2008.  Lisa Heindel, All rights reserved.