Current real estate market activity for Algiers Point:
30 homes are currently for sale in the Point
- High list price $425,000
- Low list price $123,500
- Average list price $264,562
- Median list price $262,000
4 homes are under contract or pending sale, priced from $250,000 to $399,000
Based on the number of homes sold in November (4), there is a 7.5 month supply of homes for sale in the area
Algiers Point | Number of Homes Sold | November 2009
There was a spike in home sales in Algiers Point in November, bringing the year to date total to 18 successful single family sales, down from 32 at this same time last year.
What sold in November?
| Address | Original List Price | Selling Price | Beds/Baths/Condition |
| Alix St | $182,000 | $163,500 | 2/1 Very Good |
| Elmira Ave** | $143,000 | $120,000 | 3/2 Average |
| Alix St | $186,000 | $186,000 | 2/1 Excellent |
| Delaronde | $265,000 | $247,000 | 3/2 Excellent |
** Bank owned property
Obviously, the biggest challenge that the Point is facing is the record low number of buyers who are choosing to call it home. While prices have slipped (see below), the problem for sellers has become attracting interest in the historic neighborhood.
Algiers Point | Average Home Sale Price | November 2009
With so few homes selling (an average of 2 per month), the monthly average prices have jumped all over the chart. Year to date, the average single family home is selling for $207,617, down about 5.5% from 2008. We will address multi-family sales in another report at the end of the year. If you need this information sooner, please contact Lisa for a personalized market analysis.
The good news is that all of the currently pending sales are for homes priced above this year’s average sale. Odds are good that they won’t all make it to a successful closing, but at least it indicates some interest in the higher end properties that have been so difficult to sell this year.
All data provided by GSREIN and is deemed reliable, but not guaranteed
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Find out what's going on in your West Bank neighborhood with this week's free market snapshot.
The West Bank Living Team offers professional real estate services on the New Orleans West Bank. Contact us for information on how our dedicated buyer and seller agents can assist you with any of your real estate needs.
Lisa it seems most of the buyers that used to buy in the Algiers Point area now locate in Belle Chasse.
I love lurking on your blog. I'm hoping 2010 shows an inprovement across the board. :-)
John, the draw for the Point is the historic architecture and the easy access to downtown via the ferry. It's had (some undeserved) bad press, with the news reporting crimes in nearby areas as occurring there, which I think has had an impact on sales. Additionally, the West Bank has never been the cool, hot spot for the younger set who prefers the Marigny or the lower Garden District. The river might as well be 5 miles wide for some...
CTS, I hope so too. Merry Christmas to you and yours.