West Bank market update for Algiers and Algiers Point

October sales volume (number of single family homes sold) has declined from the 2006 level of 52 homes sold to 38 homes sold in October of 2007, a 27% decline in the total number of homes sold during the month.  

It should be noted, however, that this is a 27% INCREASE over the number of homes sold in September 2007, indicating an upswing in market activity.

• Conventional loans remain the preferred method of financing a home purchase, accounting for 71% of the home purchases in 2007, up from 67% in 2006.

Average sale prices in Algiers and Algiers Point have declined from $169,754 in October 2006 to $158,461 in October 2007, a decrease of 7% in average sold price.

• Average days on market for October 2007 was 99, an 86% increase over the 53 day average in 2006.

If you would like to receive an updated report of homes for sale and recently sold in your West Bank neighborhood, please request your Free Market Snapshot here.

Your West Bank Real Estate Specialist

Copyright 2007.  Lisa Heindel, Realtor®