Algiers Point | Home Sales and Real Estate Market Trends for September 2009

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

Current real estate activity for Algiers Point:

30 homes are for sale in Algiers Point

  • High list price $550,000
  • Low list price $123,500
  • Average list price $276,403
  • Median list price $278,500

3 homes are under contract or pending sale, with an average listing price of $229,300

Algiers Point Real Estate

 

Based on the number of homes sold in September (2), there is a 15 month supply of homes for sale in the area

Algiers Point | Number of Single Family Home Sales | September 2009

Algiers Point LA Real Estate and Home Sales | September 2009

Algiers Point has had only 13 successful single family home sales this year, compared to 28 at the same time last year - a decrease of 54% in the number of closed sales. This marks the largest decrease of any of the West Bank communities that we track.

Algiers Point LA Real Estate and Home Sales | September 2009

What about financing?

The buzz this year has been all about the first time home buyer’s tax credit. Most of these first time buyers are using FHA financing to purchase their homes. Given the percentage of conventional and cash deals in the Point, there appear to be very few first time buyers moving into the area.

Algiers Point LA Real Estate and Home Sales | September 2009

Algiers Point | Average Single Family Home Prices | September 2009

Algiers Point LA Real Estate and Home Sales | September 2009

While there was a jump in the September average (due to one high end home selling), the year to date average home sale in Algiers Point is $225,431, up slightly from the 2008 average.

While the prices may be holding their own, the number of sales (see above) is down dramatically and apparently sellers are not getting the message. The majority of homes on the market in the Point are priced above $250,000 - the homes selling are generally not. As we move towards the end of the year, it may be time to review your pricing strategy to see if it still makes sense in today’s market.

Algiers Point LA Real Estate and Home Sales | September 2009

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

Read more:

Algiers LA homes for sale

Home Buying Tips

Home Selling Tips

Questions about the Algiers Point real estate market? Feel free to contact the West Bank Living Team. It would be our pleasure to assist you with any of your New Orleans area real estate needs.

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Rainmaker
1,087,076
Greg Nino
RE/MAX Compass, formerly RE/MAX WHP - Houston, TX
Houston, Texas

Wow Lisa.. very nicely done!

Oct 28, 2009 03:42 PM #1
Rainmaker
413,205
Lisa Heindel
Crescent City Living LLC - New Orleans, LA
New Orleans Real Estate Broker

Thanks, Greg :)

Oct 28, 2009 04:33 PM #2
Rainmaker
763,413
Thom Abbott
MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living - Atlanta, GA
Midtown Atlanta GA Condos For Sale

Lisa...great post with lots of information. I've been meaning to get onto these, so I started this week! Only to learn that I have no way to track the sales in individual condo buildings unless I do it MANUALLY!! Yep, all that money we pay to the listing service everytime we sell something, but I can't get a report by building OR a single family neighborhood.

So, I'll be starting in November printing out all the listings in the 20-30 buildings I monitor and will have to keep them on file for a year to then do comparisions from month to month, year to year! Can you believe that?

I can do a report by the entire area, but I want to 'drill down deeper' and go building by building.

Heavy sigh!

Oct 28, 2009 04:43 PM #3
Rainmaker
413,205
Lisa Heindel
Crescent City Living LLC - New Orleans, LA
New Orleans Real Estate Broker

Thom, can you find that data through your MLS by searching the address (I assume they all have the same address, just different unit numbers)?  If so, create a query for solds at that address within the time frame you want the data for, dump the info into a spreadsheet and start reporting.

Oct 28, 2009 04:54 PM #4
Rainmaker
1,061,043
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Lisa the graphs in your Algier market reports are so easy to understand...great work!

Oct 29, 2009 12:30 AM #5
Rainmaker
413,205
Lisa Heindel
Crescent City Living LLC - New Orleans, LA
New Orleans Real Estate Broker

Thanks, Bill!

Oct 29, 2009 01:38 AM #6
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Rainmaker
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Lisa Heindel

New Orleans Real Estate Broker
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