April 2010 Home Sales and Real Estate Market Reports for Algiers, New Orleans LA 70131

Current real estate activity in Algiers LA 70131 (excluding English Turn):

There are 208 active listings in Algiers

• High list price $895,000
• Low list price $25,000
• Average list price $174,413
• Median list price $152,450

45 homes are under contract or pending sale, priced from $22,500 to $289,000

Based on the number of April sales (14), there is a 14.8 month supply of homes for sale in Algiers

Algiers LA 70131 | Number of Single Family Homes Sold | April 2010

The 70131 portion of Algiers (excluding English Turn) is holding steady, with the exact same number of home sales (57) as at this time last year. Just like most other areas of the West Bank of New Orleans, there are a large number of pending sales – more than likely due to the first time buyers who had to choose a home by April 30th to qualify for the tax credit. This has the potential to create a spike in sales in May and June, but what happens after that remains to be seen.

In April, homes sold were on the market from 5 days to 353 days, with an average marketing time of 103 days. This number varies from neighborhood to neighborhood, so get this week’s home value report to find out the skinny on homes for sale and sold right around yours.

Algiers LA 70131 | Average Single Family Home Sale Prices | April 2010

Average sale prices are up just a smidge, ending April at $156,164. The average home under contract/pending sale is priced at $152,718, so I expect to see the prices drop slightly over the next couple of months.

More about Algiers home sales in April:

• 1 sale was a short sale
• 36% of the homes sold were bank owned or foreclosure properties
• 36% of sellers paid for a home warranty for the buyers
• 43% of sellers paid some type of closing cost assistance for the purchaser

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

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This article originally published at West Bank Living