Algiers Real Estate Market Update (New Orleans, LA)
Last year saw a significant increase in the number of residential sales in Algiers, rising from 356 in 2013 to 434 in 2014.
Does not include English Turn/Lower Coast Algiers
Average home sale prices in Algiers
As the number of sales increased, so did the average sale prices. 2014 saw a rise of 15% in average sold prices, the highest average over the last 5 years.
The news is still not great for those that bought post-Katrina when average prices were just below $174,000. This leaves a good number of home owners still unable to sell their houses for what they paid if they bought in 2006-2007.
Does not include English Turn/Lower Coast Algiers
Months of Inventory in Algiers
When determining whether an area is experiencing a buyer’s market or seller’s market, we look to the months of inventory on the market. Based on historic sales, Algiers is still in a buyer’s market, with 9 months of inventory available at the end of March 2015.
When it consistently remains below 6 months, we will be able to call it a seller’s market, but we aren’t there yet.
Does not include English Turn/Lower Coast Algiers
Considering selling your Algiers home? Give us a call at 504-327-5303 and we’ll be happy to help.
Algiers Homes for Sale
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