Current real estate activity in Algiers LA 70114:
121 homes are for sale in Algiers 70114
- High list price $599,000
- Low list price $13,000
- Average list price $147,446
- Median list price $119,900
16 homes are under contract or pending sale, priced from $28,000 to $399,000 Based on December 2009 sales (6), there is a 20 month supply of homes for sale in the area
Algiers LA 70114 | Number of Homes Sold | December 2009
After a brief uptick in 2008, the number of home sales in the 70114 zip code of Algiers dropped almost 37% in 2009, ending the year with 73 homes sold. Much of this can be attributed to declining sales in Algiers Point, which has been hard hit by the changes in the West Bank real estate market.
Interestingly, the days on market for homes sold in the area has remained flat for the last 3 years. When priced right for the neighborhood and condition, homes are selling in an average of 102 days.
- The home on the market the longest in 2009 sold in 463 days.
- The home on the market the shortest period of time in 2009 sold in 1 day.
Algiers LA 70114 | Average Home Sale Prices | December 2009
Prices in the 70114 zip code of Algiers continue to decline, dropping over 10% from 2008 to 2009. Besides the impact of fewer high end sales in the Point, there are a good number of homes in need of restoration or renovation that are being purchased for cash by investors or buyers who have the time and money to put into a fixer-upper.
This section of Algiers is the only area on the West Bank that is seeing cash as the primary purchasing tool.FHA is right behind with 34% of the market. Of note is that 30% of home sellers provided some type of closing cost assistance to the purchasers in 2009, so be sure that your agent is providing you with all of the details on comparable sales in your neighborhood.
Find out what's going on in your West Bank neighborhood with this week's free market snapshot.
All data is provided by GSREIN and is deemed reliable, but not guaranteed
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