Current real estate activity in Algiers Point:
26 single family homes are for sale
- High list price $390,000
- Low list price $126,000
- Average list price $268,231
- Median list price $277,000
7 homes are under contract or pending sale, priced from $123,500 to $425,000
Based on the number of homes sold in January (3), there is a 8.7 month supply of homes for sale in Algiers Point
Algiers Point | Number of Single Family Home Sales | January 2010
The Point started out the year with 3 successful single family homes sales – a vast improvement over last January when there were no sales at all and the most January sales we’ve seen in the neighborhood since 2007.
Days on market took a jump to an average of 136, but since it is just for one month, we’ll have to track it over time to get a true picture of how long it is taking homes that are priced right to sell.
Algiers Point | Average Single Family Home Prices | January 2010
Finally, we are starting to see some of the move in ready and upper end homes in the Point begin to move. January ended with an average sale price of $302,750. Granted, with only 3 sales it’s easy to skew the numbers, but all of the homes sold were over $260k, which is well above the 2009 average.
Conventional financing was used for all of the homes sold in January.
Some more details about January sales in the Point
- All of the homes were in Very Good or Excellent condition
- None of the sales were of bank owned or foreclosure properties
- 1 (33%) seller provided closing cost assistance to the buyer
- 1 (33%) seller paid for a home warranty for the purchaser
All data is provided by GSREIN and is deemed reliable, but not guaranteed
West Bank Real Estate Market Statistics
For more information about home buying or selling on the West Bank of New Orleans, or relocating to or from NAS JRB New Orleans, please contact the West Bank Living Team. It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!
Originally published at West Bank Living
Lisa Very informative market report. Is 100% conventional normal in New Orleans?
Lisa, Sounds like good news. I did read as I believe I mentioned that many people want to come HOME and are looking again in New Orleans and your lovely areas.
Lots of information now we just need to see more activity over time to see if it is a trend.
Karen, conventional is not the norm over most of the metro area. Algiers Point is a historic district, with many homes from the turn of the century, so often they are either over the FHA loan limits or there are conditions that don't meet the requirements.
Carole, if you can remember where you read that, I'd love to know.
Terry/Bonnie, I think this is going to be an interesting year :)