Algiers LA 70114: February 2009 Home Sales and Real Estate Market Report

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


Algiers LA 70114: Current real estate market statistics

  • 80 active listings, priced from $23,000 to $699,000
  • 15 pending sales, priced from $39,000 to $269,900
  • Based on the number of homes sold in February (5), there is a 16 month supply of homes for sale in the area
  • This report covers the entire 70114 zip code and includes Algiers Point Home Sales

Algiers LA 70114 – Number of Home Sales February 2009

Algiers LA Home Sales February 2009

Sales in Algiers 70114 increased from January to February 2009, but the majority of the sales were of properties in need of repairs or remodeling. 3 of the 5 sales were to cash buyers, 1 was conventional financing. No FHA or VA financing was used during the month of February in this area.

The number of sales in the 70114 zip code is 50% lower than at the same time last year (7 year to date 2009 compared to 14 year to date 2008).

 

Algiers LA Home Sales February 2009

Algiers LA 70114 – Average Home Sale Prices February 2009

Algiers LA Home Sales February 2009

Home sale prices in the area are substantially below the 2008 average at this point, but part of this is due to an inaccuracy in one of the sales reported in January. I’m trying to get the accurate sale price recorded in the MLS so the true numbers can be reported. Hopefully this will be resolved by the time the 1st quarter numbers are ready.

In the meantime, it’s important to note that only 1 home has sold over $100,000 in the area this year. So far this year, the most common buyer in the 70114 zip code seems to be an investor.

Algiers LA Home Sales February 2009

Need more information about buying or selling a home in Algiers? 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 real estate services across the West Bank of New Orleans. For answers to your real estate questions, contact us.

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Lisa Heindel

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