http://www.westbatonrougeappraiser.com/ – West Baton Rouge Housing Statistics: Sugar Mill Plantation Sees Active Market Into 2010
Solds In Sugar Mill Plantation from 1/1/2009 to 12/31/2009 revealed:
Average Sales Price: $223,337
Average Sold Price Per Sq. Ft.: $122.18/sf
Median Sold Price: $222,500
Number of Sales: 27
Number of Sold REO/Foreclosures Noted In MLS: 0
Solds In Sugar Mill Plantation from 1/1/2010 to 04/28/2010 reveal:
Average Sales Price: $219,428
Average Sold Price Per Sq. Ft.: $124.70/sf
Median Sold Price: $219,000
Number of Sales: 7
Number of Sold REO/Foreclosures Noted In MLS: 0
Home sales in both periods ranged from $197,300 up to $252,300.
Average Sold Price Per Sq. Ft. Increases. The average sold price per sq. ft. increased by over $2/sf into 2010. And, it’s difficult to call a trend based only on 7 sales in 2010.
Median Sold Price Declines. Declines from $222,500 to $219,000 are shown for 2010, which is a -1.57% decline.
Marketing Time Decreased. Average days on the market (DOM) in 2009 was 185 versus 140 days in 2010. There had been a general oversupply of new homes in West Baton Rouge Addis market in 2009.
Yes, Pace Of 2010 Home Sales Has Slowed But! Yes, with only 7 sales as of 4/28/2010 and 27 sales in 2009, the pace of home sales is below that of 2009. However, of the 13 listings, 5 are pending or under contract and the average DOM for these 5 listings is 115 days. And, there’s a significant amount of new home construction taking place once again.
The Move To Build More Affordable Homes In This Market? I noticed as I was driving into Sugar Mill Plantation that there is a new “Garden Homes” section. Perhaps, with the somewhat difficulty of selling homes in bulk in the $124/sf range, the builders are moving to build smaller, more affordable housing in this market? Not Sure! There are no homes from this new section listed yet.
Report From Accurate Valuations Group, Bill Cobb Appraiser
NOTE: Based on Detached Single Family information from the Greater Baton Rouge Association of REALTORSMLS. This information was extracted on 04/28/2010.
http://www.batonrougehomeappraisal.com/ – Baton Rouge Housing Statistics: Rushmore Subdivision 70819 Increases Slightly Into 2010
Solds In Rushmore from 1/1/2009 to 12/31/2009 revealed:
Average Sales Price: $138,800
Average Sold Price Per Sq. Ft.: $99/sf
Median Sold Price: $142,000
Number of Sales: 9
Number of Sold REO/Foreclosures Noted In MLS: 1
Solds In Rushmore from 1/1/2010 to 04/28/2010 reveal:
Average Sales Price: $136,000
Average Sold Price Per Sq. Ft.: $101.30/sf
Median Sold Price: $136,000
Number of Sales: 2
Number of Sold REO/Foreclosures Noted In MLS: 0
Home sales in both periods ranged from $105,000 up to $160,200. The average sold price per sq. ft. increased by over $2/sf into 2010. And, it’s difficult to call a trend based only on 2 sales in 2010. Now, Rushmore is built up with both newer and older homes. There are 6 total listings with 2 pending or under contract. Two of the older 21-30 yr old homes are listed for $97/sf and $98/sf while one of the newer 6-10 yr old homes is listed at $104/sf.
“Sub-Market” comparison is below. A Sub-Market comparison is comparing the subject home or sudivision to similar homes within that market. Sub-Market search parameters for a 10 year old 1,400sf in Rushmore might be other homes in MLS Area 41 with 150sf of 1400sf and within 5 years of 10 years old, which might look like 1250sf to 1550sf and ages 5 to 15 years old.
NOTE: Based on Detached Single Family information from the Greater Baton Rouge Association of REALTORS\MLS. This information was extracted on 04/28/2010.
http://www.batonrougehomeappraisal.com/ - Baton Rouge Home Appraiser Sees Familiar Trends In 2010 Housing Market
Greater Baton Rouge Home Appraiser, Bill Cobb, is seeing a familiar set of 4 housing market trends within this market. By clicking on the chart below, one will see 4 trends:
1.) Less sales taking place in the most current 3 month period. With the current good national housing news due to the federal tax credit and the resulting increase in home sales nationally, one would think that there would be more home sales in the most current 3 month period because of the tax credit. And, with all of the fantastic news about the Greater Baton Rouge economy, one wonders why there would be fewer home sales.
2.) The “months supply of housing” on the market increasing, which would seem to be a negative at first. However, if one looks at the “Median Comparable Sales Days On Market”, one will see a 69 to 98 day marketing time period, 79 days in the most current period.
3.) Strong “Listing-To-Sales-Price Ratio” of 98% to 100%.
4.) A stable to slightly increasing median sales price since April 2009, 12 months back.
CLICK TO ENLARGE
The form above is part of the Fannie Mae 1004MC or Market Conditions Form required in residential appraisals performed for mortgage lending purposes where Fannie Mae will eventually be involved.
http://www.batonrougehomeappraisal.com/ – Greater Baton Rouge Housing Statistics! Baker Louisiana Real Estate Housing Statistics For 2010
The above charting is an analysis of GBRAR MLS Solds since 4/17/2008+ within MLS Area 11, Zip Code 70714, extracted on 4/26/2010. DSF Home search parameters were:
$75,000 to $150,000
1300sf to 1600sf, 3-4 Bedrooms
Ages 16-20 Yrs to 76+ Yrs
REO/Foreclosures are included.
The overall median sales price since 4/2009 has remained stable showing a +0.89% increase.
http://www.batonrougehomeappraisal.com/ – Baton Rouge Real Estate Housing Statistics: Stevendale Heights 70819 Declines Into 2010
Stevendale Heights Market Direction: Up or Down?
Solds In Stevendale Heights from 1/1/2008 to 12/31/2008 revealed:
Average Sales Price: $68,097
Average Sold Price Per Sq. Ft.: $61/sf
Median Sold Price: $66,000
Number of Sales: 15
Number of Sold REO/Foreclosures Noted In MLS: 6
Solds In Stevendale Heights from 1/1/2009 to 12/31/2009 revealed:
Average Sales Price: $73,470
Average Sold Price Per Sq. Ft.: $53/sf
Median Sold Price: $70,000
Number of Sales: 10
Number of Sold REO/Foreclosures Noted In MLS: 4
No MLS Solds Year-To-Date In 2010 as of 4/23/2010! However, there are currently 3 current foreclosure listings and at least 2 pre-foreclosures. Current RealtyTrac map below.
Therefore, based on the median sale price barometer within Stevendale Hts, the market direction appears to be increasing from $66,000 in 2009 to $70,000 into 2010 or +6%. HOWEVER, the sold price per sq. ft. differences between 2009 and 2010 is approximately a decrease of $8.41/sf, from $61.22/sf to $52.81/sf. AND, keep in mind that the recent foreclosure activity and sheer number of current foreclosures overshadows and emphasizes this decline. NOTE: The median sales price is the NAR’s barometer because it tends to eliminate the “outliers” in a market reporting periord. Outliers are those homes that sold unusually low or high based on an historical pattern.
NOTE: Based on Detached Single Family information from the Greater Baton Rouge Association of REALTORS\MLS. This information was extracted on 04/23/2010.
http://www.batonrougehomeappraisal.com/ – Baton Rouge Real Estate Housing Statistics: Wedgewood Subdivision Increases Slightly Into 2010
Wedgewood Subdivision Market Direction: Up or Down?
Solds In Wedgewood from 1/1/2009 to 12/31/2009 revealed:
Average Sales Price: $174,372
Average Sold Price Per Sq. Ft.: $89/sf
Median Sold Price: $173,250
Number of Sales: 18
Number of Sold REO/Foreclosures Noted In MLS: 1
Solds In Wedgewood from 1/1/2010 to 04/23/2010 reveals:
Average Sales Price: $183,250
Average Sold Price Per Sq. Ft.: $90/sf
Median Sold Price: $181,500
Number of Sales: 4
Number of Sold REO/Foreclosures Noted In MLS: 0
Therefore, based on the median sale price barometer within Wedgewood, the market direction appears to be increasing from $173,500 in 2009 to $181,500 into 2010 or +4.76%, but only based on 4 sales so far into 2010. The sold price per sq. ft. differences between 2009 and 2010 is approximately an increase of $1.07/sf. NOTE: The median sales price is the NAR’s barometer because it tends to eliminate the “outliers” in a market reporting periord. Outliers are those homes that sold unusually low or high based on an historical pattern.
NOTE: Based on Detached Single Family information from the Greater Baton Rouge Association of REALTORS\MLS. This information was extracted on 04/23/2010.
