Algiers LA Market Update 2007 (zip code 70114)
By Lisa Heindel, New Orleans Real Estate Broker
(Crescent City Living LLC)
As we close the calendar on 2007 and enter a new year, take a look back at the historical trends for home sales in Algiers, zip code 70114. Some highlights worthy of mention:99 homes were sold in 2007, a decrease of 33% from the number of homes sold in 2006. This marks the smallest number of home sales in the area in 9 years. 71 (72%) of the homes sold in 2007 had a list price of less than $200,000. Days on market climbed to an average of 102 days, up 59% from 2006. As of 1/1/2008, there are 98 active listings and 18 homes with accepted offers that have not closed yet. Based on 2007 sales, this amounts to a 12 month inventory in the 70114 zip code if no more homes are listed. Average home sale prices increased slightly from the 2006 average of $157,378 to $160,994, a 2.3% increase. ...
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