Algiers Point Real Estate Changes in the Last Few Years
Algiers Point is the second oldest neighborhood in the City of New Orleans. Known as the Point by locals, this area of New Orleans offers affordable housing. It is a quiet and quaint neighborhood with the small-town charm just a ferry ride away from downtown.
Algiers Point is across the Mississippi River from downtown. The Point is known for its beautiful Victorian historic homes. Residents and visitors describe it is like stepping back in time to the 1800s. You can see Victorian double shotgun homes as well as Craftsman shotguns and bungalows.
Algiers Point has seen a drastic increase in real estate activity in the past few years. The median sales price rose from $164,318 to $348,335 between 2012 and 2018 in the U.S. In Algiers, there has been a steady price increase since 2011. In 2018 the median sales price in Algiers was $181,776 which is affordable compared to its neighboring community the Garden District which had a median sales price of $510,584 in 2018.
“For the new folks, it’s really just kind of the affordability of the community that makes sense,” said Kelsey Foster, head of the Algiers Economic Development Foundation. Once new subdivisions started popping up, “that raised our population, and the average median income. And that immediately changes the calculation for grocery stores, restaurants and retail.”