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

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

Algiers LA – Current real estate market activity

(excluding English Turn – you can find the English Turn home sales here)

  • 184 active listings, priced from $32,000 to $950,000
  • 41 pending sales, priced from $48,552 to $349,900
  • Based on the number of Algiers homes sold in February (9), there is a 20 month supply of homes for sale in the area

Algiers LA 70131 – Number of Homes Sold February 2009

Algiers LA February 2009 Home Sales

The number of homes sold in Algiers in February creeped up to 10 from the 7 January sales, putting the total for 2009 at 17 so far. (Compared to the 28 sales at the same time last year)

The most startling number for Algiers has to be the days on market though. In 2008, the average days on market was 119. The 2009 average as of the end of February is 191. Some of the homes that have been on the market for an extended period of time are selling as the owners become more realistic about pricing. In February, sellers received an average of 87% of their asking price, indicating that they were either testing the market or were just priced too high and ended up accepting a lower price after an extended listing period.

The bottom line is that over pricing your home results in a longer marketing time.

Algiers LA February 2009 Home Sales

Algiers LA – Average Home Sale Price February 2009

Algiers LA February 2009 Home Sales

Average sale prices in Algiers declined from January to February, following the downward trend that we’ve been watching for the past 4 years.

When deciding on a price for your home, it’s critical to look at what has actually sold in your neighborhood for the last 90-120 days. The price your neighbor got for his house last year may very well be a completely unrealistic number in today’s market, and the high price your other neighbor is asking likely has nothing to do with what the home will actually sell for.

Are You REALLY Ready to Sell Your West Bank Home?

Algiers LA February 2009 Home Sales

If you need more information about buying or selling a home in Algiers, please contact the West Bank Living Team. It would be our pleasure to assist you.


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

The West Bank Living Team provides professional representation for home buyers and sellers across the West Bank of New Orleans. Contact us today for answers to your real estate questions.

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Rainmaker
2,790,114
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Lisa, I may have said it before but you have such wonderful graphics....I sometimes wonder who the reports are written for because I don't know if your average consumer can understand some of them.  Yours are great!

Mar 10, 2009 01:48 PM #1
Rainmaker
516,438
Russell Lewis
Realty Austin, Austin Texas Real Estate - Austin, TX
Broker,CLHMS,GRI

Lisa I have really enjoyed looking at the way you post your neighborhood info and particularly the way you add the links to your other blogs for related info and reading! Great job!

Mar 10, 2009 02:22 PM #2
Rainer
179,681
Erik Hitzelberger
RE/MAX Alliance - Louisville REALTOR-Luxury Homes - Louisville, KY
Louisville - Middletown Real Estate

Wow Lisa.  Sellers in Algiers really need to get serious with that type of competition.  The first step is to find a West Bank Agent who understands the market conditions and can accurately assess the house in terms of today's reality.  You are obviously more than qualified.

Mar 10, 2009 03:22 PM #3
Rainmaker
413,205
Lisa Heindel
Crescent City Living LLC - New Orleans, LA
New Orleans Real Estate Broker

Carole, thank you...the whole point is that readers who aren't agents can understand!

Russell, thanks!  I'm watching your localism posts and they are outstanding.

Erik, you give the best comments compliments.  You better believe that my Louisville referrals are going to you, my friend.

Mar 11, 2009 07:10 AM #4
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Rainmaker
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Lisa Heindel

New Orleans Real Estate Broker
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