February 2010 Home Sales and Real Estate Market Reports for Algiers Point, New Orleans LA

Current real estate activity in Algiers Point:

25 single family homes are currently for sale

• High list price $389,000
• Low list price $113,400
• Average list price $261,336
• Median list price $259,900

3 homes are under contract or pending sale, priced from $123,500 to $239,900

Based on the number of homes sold in February (2), there is a 12.5 month supply of homes for sale in the Point

Algiers Point | Number of Single Family Home Sales | February 2010

As of February 2010, there have been 5 single family homes sold in Algiers Point, compared to 2 at the same time last year. While it’s still a fairly low number, it does represent an over 100% increase in sales for this time frame.

Days on market for sold homes in 2010 has moved up to 105. Since the average active listing has already been on the market for 171 days, we can expect that number to rise as some of the older inventory is cleared out during the year.

Algiers Point | Average Single Family Home Sale Prices | February 2010

Even though average home sale prices in Algiers Point dropped from January to February, the year to date average of $282,630 represents the highest average we have seen in the neighborhood since 2006. Given the number of calls we had on a recent listing in the Point, it appears that interest in this historic New Orleans area may be returning.

More details about home sales in Algiers Point

• Both homes sold in February were in Excellent condition
• 1 seller provided closing cost assistance to the buyer
• No home warranties were provided by the sellers
• None of the sales were foreclosures
• A look at the financing methods used by buyers in the Point indicates a return of some better qualified purchasers to the area

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

Related Articles:

Home buying tips
Home selling tips
Algiers homes for sale
West Bank Real Estate Market Statistics

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For more information about home buying or selling on the West Bank of New Orleans, or relocating to or from NAS JRB New Orleans, please contact the West Bank Living Team.

It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!

Originally published at West Bank Living