Current real estate activity in Algiers, 70114 (including Algiers Point):
106 single family homes are for sale
- High list price $389,000
- Low list price $29,000
- Average list price $137,762
- Median list price $112,500
23 homes are under contract or pending sale, priced from $10,000 to $287,900
Based on the number of homes sold in March (12), there is a 8.8 month supply of homes for sale in the area
Algiers LA 70114 | Number of Single Family Homes Sold | March 2010
Home sales in the 70114 zip code of Algiers took a jump in March, bringing the year to date total number of single family homes sold to 25 (compared to 14 during the first quarter of 2009). This portion of Algiers is really a tale of two different markets – the foreclosure market and the rest of the sales – and foreclosure sales made up 58% of the home sold in this section of Algiers in March.
Days on market is still holding steady, but with the average listing already on the market for 153 days, look for this number to increase in the coming months as some older inventory is hopefully cleared out.
Algiers LA 70114 | Average Single Family Home Sale Prices | March 2010
Sale prices increased in March, bringing the year to date average to $125,158. The increase in sales prices from 2009 to 2010 can be mostly attributed to an increase in sales in Algiers Point since the highest priced real estate in the zip code is in the historic district and a few sales in that area can have a major impact on the average. Your
More about March sales:
- 3 homes sold were in Excellent or Very Good condition, while the remainder were in Average, Fair and Poor condition
- 33% of sellers provided some sort of closing cost assistance to the purchaser
- No home warranties were provided by sellers in March
- Because of the high percentage of foreclosures and properties in need of renovation, cash is king in the 70114 zip code, used in more than half of the sales so far in 2010.
All data is provided by GSREIN and is deemed reliable, but not guaranteed
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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
Love the way you do market reports! It feels like old home week on the AR blogroll today!! I was hoping for one of your local stories!
Lisa - Well it does look like Algiers home sales got a good bump in March! Let's keep the trend going and get that sales price up as well.
Hi Susan...I have some in draft that I'm tweaking now :)
Hi Susan B! Those foreclosures are pulling the prices down, which is why it's important for sellers to understand who they are competing with in their neighborhood.