Current real estate statistics for Algiers LA 70114 as of 12/3/2008:
- 93 Active listings, priced from $34,500 to $590,000
- 8 pending sales (still allowing showings) priced from $50,000 to $248,800
- 13 homes are under contract, priced from $34,900 to $198,900
- Average listing price: $162,293
- Median listing price: $125,000
- Based on November home sales, there is an 11.6 month supply of homes for sale in Algiers
- Note: While this report covers all of zip code 70114, a separate report is prepared for Algiers Point home sales
Algiers LA 70114 Number of Homes Sold November 2008
Algiers 70114 ended the month of November with 8 closed sales out of the 15 that were pending at the beginning of the month and it looks like the total sales for the year will be on par with 2007. A review of the year to year comparison shows that the number of homes sold in the area has been dropping each year, with the exception of 2006. Of course, that was the crazy buying frenzy that followed Katrina is not a real indicator of demand for homes in the area.
Algiers LA 70114 Average Home Sale Price November 2008
Once again, the average sale price for the 70114 zip code jumped around drastically. These jumps happen whenever there are multiple sales in Algiers Point that skew the monthly average. The real number to watch at this point is the year to date average sold price – $134,970.
I can hear sellers complaining right now because this is the lowest in the last 5 years. But, the numbers don’t lie. This presents a great opportunity for buyers who have been waiting for lower prices. There is no need to wait any longer – they are here now, along with low interest rates and available financing.
All data provided by GSREIN and is deemed reliable, but not guaranteed.
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If you are considering buying or selling an Algiers home, please contact Lisa Heindel. It would be my pleasure to assist you.
Copyright 2008. Lisa Heindel and West Bank Living. All rights reserved.
