Algiers LA 2007 Neighborhood Home Sales Market Report
January 2, 2008 by lisa
Filed under Algiers, Blog, Real Estate Market Updates
Within Algiers we have so many diverse neighborhoods that a general state of the market report may be misleading to some. 2007 market reports are available for zip codes 70114 and 70131. Getting a little more detailed, here are some of the most popular neighborhoods in the area, along with their 2006 and 2007 sales statistics.
It must be noted that 2006 was a boom year for real estate sales on the West Bank, due to the large number of people relocating after Hurricane Katrina. With our reduced population in the metro area, that sales volume could not be sustained over a long period of time, and decreases in volume were to be expected. The higher sales prices that were commanded in 2006 were a direct reflection of the increased demand for housing in non-flooded areas. Again, as people have settled into different areas, prices have decreased to reflect the lessened demand for housing. Another factor impacting housing sales continues to be the higher cost of home owner’s insurance, with most first time home buyers being placed into policies with LA Citizens (Fair Plan).
Algiers Point
(from Opelousas to the River)
| 2007 | 2006 | |
| # Homes Sold | 24 | 26 |
| Average Sales Price | $267,288 | $290,252 |
| Average Days on Market | 147 | 99 |
** LA Citizens insurance costs for an average home are estimated between $5,300 and $5,900 per year
English Turn
| 2007 | 2006 | |
| # Homes Sold | 42 | 58 |
| Average Sales Price | $588,653 | $594,422 |
| Average Days on Market | 102 | 95 |
**There are no estimates available for homes in this price range for LA Citizens insurance costs
Tall Timbers
| 2007 | 2006 | |
| # Homes Sold | 39 | 52 |
| Average Sales Price | $223,629 | $229,338 |
| Average Days on Market | 118 | 61 |
**LA Citizens insurance costs for an average home are estimated between $4,600 and $5,100 per year
Park Timbers
| 2007 | 2006 | |
| # Homes Sold | 24 | 23 |
| Average Sales Price | $266,965 | $274,322 |
| Average Days on Market | 97 | 49 |
**LA Citizens insurance costs for an average home are estimated between $5,300 and $5,900 per year
Bocage
| 2007 | 2006 | |
| # Homes Sold | 17 | 36 |
| Average Sales Price | $191,100 | $200,617 |
| Average Days on Market | 97 | 79 |
**LA Citizens insurance costs for an average home are estimated between $4,200 and $5,000 per year
New Aurora
| 2007 | 2006 | |
| # Homes Sold | 26 | 60 |
| Average Sales Price | $190,658 | $192,720 |
| Average Days on Market | 89 | 65 |
**LA Citizens insurance costs for an average home are estimated between $4,200 and $5,000 per year
Old Aurora
(between Woodland and Sullen)
| 2007 | 2006 | |
| # Homes Sold | 25 | 33 |
| Average Sales Price | $137,891 | $142,236 |
| Average Days on Market | 99 | 66 |
**LA Citizens insurance costs for an average home are estimated between $3,000 and $4,000 per year
Huntlee Village
| 2007 | 2006 | |
| # Homes Sold | 32 | 31 |
| Average Sales Price | $119,374 | $125,227 |
| Average Days on Market | 79 | 52 |
**LA Citizens insurance costs for an average home are estimated between $2,200 and $3,000 per year
This by no means covers every individual area of Algiers. It’s a great community, with so much to offer. If you live in a West Bank neighborhood that you would like to see spotlighted, please feel free to call me or drop me an email, and I’ll get it done!
Copyright 2008. Lisa Heindel, All rights reserved.
Tall Timbers - West Bank Subdivision of the Week
The spotlight this week is on the Tall Timbers subdivision in Algiers. Bounded by General de Gaulle, Woodland Drive and the Intracoastal Waterway, the Tall Timbers neighborhood has much to offer home owners. Located only 3 miles from the Crescent City Connection, 6 miles from downtown New Orleans and less than one mile from Our Lady of Holy Cross College, living in Tall Timbers comes with multiple benefits.
- An active Garden Club
- An active Homeowners Association, with affordable dues of only $80 every 6 months ($160 per year)
- Home of the Dwight D. Eisenhower Elementary School, located near the center of the subdivision
The Collins Park Bird Sanctuary is located near the middle of Tall Timbers subdivision, next door to Eisenhower school. A peaceful respite sponsored by the Tall Timbers Garden Club.
Small pocket areas of specialty housing are sprinkled throughout the subdivision limits.
Tall Timbers Estates is made up of 5 streets (Inwood, Pin Oak, Post Oak, White Oak and North Teak) and features larger, custom built homes. There are currently 8 homes available for sale in the Estates section, ranging in price from $209,900 to $349,250.
Woodstone consists of one circular street within the community with the largest of the custom homes in the subdivision. Red Oak Court currently has 2 homes for sale, ranging in price from $440,000 - $580,000. Both properties are 5 bedroom homes with between 4,000 and 5,000 square feet of living area and in ground pools.
Within the subdivision, there is also a collection of 14 homes that all back up to a shared pool and outdoor entertaining area. With an additional homeowner fee of $720 annually for pool maintenance, landscaping and playground equipment upkeep, this is almost a “secret” subdivision, since the private pool and play facilities are not viewable from any of the surrounding streets. There is currently 1 property for sale in this exclusive group, a 4 bedroom home with over 2,900 square feet of living area, listed for $265,000.
Within the rest of Tall Timbers, there are 18 homes for sale, ranging in price from $165,000 - $279,000. The available homes have 4 to 6 bedrooms, with square footages from 2,100 to over 3,000 square feet of living area.
2007 Sales in Tall Timbers
35 homes sold
Sold prices: $172,000 - $345,000
Average sold price: $232,384
Median sold price: $215,000
Average days on market: 132
When buying or selling your home on the West Bank, it is more important than ever to hire a local expert...someone who knows the area and ins and outs of the local real estate market. Visit my website, Welcome to the West Bank, for more information on preparing your home for sale or for the steps you need to take to purchase your new home.
Copyright 2007. Lisa Heindel, Realtor®. All rights reserved.
