With historical sites, entertainment, and quality education in the area, there are all sorts of people who are looking to move into an Old Algiers home. But before they can add their current property for sale and start packing, it's important to get to know the local real estate market. There are all sorts of different types of homes that you will find in this neighborhood and knowing what's available and for what price will help you choose the right one for you.
The average listing price for a home is right around $300,000 with the median sales price being closer to $235,000. This is slightly higher than the average listing price for all of New Orleans, which is around $270,000. This will be reasonable for someone coming in from neighboring States, for example. Because this is such a popular area with tourists and those visiting New Orleans, you will find that many of the properties on the market are slightly smaller than the ones that you will find elsewhere.
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When you're looking in a smaller area, like in one particular neighborhood, you might find that you're limiting your options too much when it comes to finding real estate. This is why when you're coming to look you might also look at the homes that are available in surrounding communities as well as here in Old Algiers. A home in McDonough has an average listing price of only about $115,000 and in Whitney it is the same. Across the water in the French Quarter, however, homes are selling for around the $500,000 mark.
In Old Algiers, you will find a nice mix of single-family homes, townhouses, and converted multi-family properties. There are some places well suited to those that are used to high end condos and those that are coming from older homes in the country. It is definitely possible to get a single-family home for around the $200,000 mark if you're looking in this area.
Market conditions show us that while the popularity for buying property in this area has not seen much of a change, the price of homes being bought and sold here has gone up. This might spell good news for the future for those that are interested in investing here. This is definitely a good sign for those interested in commercial property. There are lots of different kinds of business real estate within this neighborhood. Come here and you will quickly start to see the possibilities of living and working in the historic community of Old Algiers.