Algiers LA 70131: March 2009 Home Sales and Real Estate Market Reports

By
Real Estate Broker/Owner with Crescent City Living LLC Licensed LA RE Commission

Current real estate activity in Algiers LA 70131:

163 homes for sale (active listings)

  • High list price $950,000
  • Low list price $27,900
  • Average list price $209,156
  • Median list price $175,000

51 pending sales, priced from $33,250 to $299,000

Based on the number of homes sold in March (21) there is a 7.76 month supply of homes for sale in Algiers

Algiers LA 70131 – Number of Homes Sold in March 2009

New Orleans-Algiers-Home Sales-Real Estate

The number of homes sold in Algiers 70131 more than doubled from February to March 2009, bringing the year to date sales to 38 (compared to 46 at the same time last year). 

Who is buying in Algiers?

  • Buyers with conventional financing:  3, at an average price of $168,333
  • Cash buyers:  6, at an average price of $132,416
  • FHA buyers:  12, at an average price of $146,291

That large percentage of FHA buyers should be a flag to sellers that assistance with closing costs is a typical  part of getting these deals done.  In March 2009, 38% of the closed sales had the sellers providing an average of $4,361 in assistance to the buyers.  Before you get all upset at the buyer asking for assistance, read Keep Your Eye on the Bottom Line.

New Orleans-Algiers-Home Sales-Real Estate

Algiers LA 70131 – Average Home Sale Price in March 2009

New Orleans-Algiers-Home Sales-Real Estate

While the number of homes selling is rising, the average sale prices in Algiers 70131 are decreasing, ending March at $145,476 and bringing the year to date average to $150,516 (down almost 8% from the 2008 average).

What’s selling in Algiers?

  • 1 home in FAIR condition, at a price of $35,500
  • 5 homes in AVERAGE condition, at an average sales price of $84,600
  • 2 homes in VERY GOOD condition, at an average sales price of $123,500
  • 13 homes in EXCELLENT condition, at an average sales price of $180,730

Note: these sale prices are not adjusted for any assistance the sellers may have provided to the buyers.  When pricing your home or determining if an offer you’ve received is fair, it’s important to take into account any adjustments to the sale price.  Be sure that your West Bank real estate agent knows the ins and outs of the sales in your neighborhood and can give you the details you need to make an informed decision.

New Orleans-Algiers-Home Sales-Real Estate

All data provided by GSREIN and is deemed reliable, but not guaranteed.

Related Reading:

Algiers homes for sale

2009 First Time Home Buyer Tax Credit FAQ

Welcome to Algiers


The West Bank Living Team provides local, professional real estate services to buyers, sellers and military relocations to and from NAS JRB New Orleans.  It would be our pleasure to assist you with all of your real estate needs.

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Rainer
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Chad Janusa, MBA - New Orleans Real Estate
Metairie, LA

Lisa, Very useful info! I am a newer agent based in Metairie, and I've been wanting to do some type of market report for the Metairie area. I like how you have broken everything down and also the use of graphs. Most market reports I've seen agents do simply have a table full of numbers. The graphs are much easier to read and understand. Hope business is well on the West Bank..

Apr 30, 2009 12:45 AM #1
Rainmaker
516,438
Russell Lewis
Realty Austin, Austin Texas Real Estate - Austin, TX
Broker,CLHMS,GRI

Lisa, you have a very wide range of pricing in your area but it seems as though your market is picking up. I certainly hope so. I wanted to say that I have enjoyed seeing you on facebook and at the Rebar conference! Have a good week!

Apr 30, 2009 02:42 AM #2
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Rainmaker
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Lisa Heindel

New Orleans Real Estate Broker
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