Baton Rouge Real Estate Area 53 Nicholson Lakes Oversupply

Baton Rouge Real Estate Area 53 Nicholson Lakes Oversupply
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www.batonrougerealestatebuzz.com - Baton Rouge Real Estate Area 53 Nicholson Lakes Oversupply. In this video, Greater Baton Rouge Home Appraiser, Bill Cobb, reviews recent housing data. Data used with permission of GBRAR MLS extracted on 6/22/2010, from 6/1/2008 to 6/22/2010.

Baton Rouge Real Estate: Springlake New Home Construction Raises 2009 Median Sales Price

http://www.batonrougerealestateappraisers.net/ – Baton Rouge Real Estate: Springlake At Bluebonnet Highlands New Home Construction Raises 2009 Median Sales Price

Chart #1 includes ALL solds from November 2008 to November 2009 YTD indicating a +7.36% increase in median sales price. ALL home sales includes both new home construction sales and existing home sales.

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Chart #2 includes ONLY solds of existing homes from November 2008 to November 2009 YTD indicating a -0.66% decline in median sales price.

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Current Listings. Currently, there are 29 listings within Springlake, from $196,900 up to $288,900. Of these listings, 15 are new construction and 14 are existing homes. The Average Listing Price is $238,655, Average Listing Price Per Sq. Ft. is $139.56/sf, Median Listing Price $239,500 and Average Days On Market 104 days. FSBOBR.com indicates 11 more current listings in Springlake from $198,000 up to $265,900. Assuming the 11 FSBOBR.com listings are not listed in MLS, that would total 40 current listings in Springlake, which would appear to be an oversupply and possibly the reason that the existing median sales price basically didn’t increase from 11/2008 to 11/2009.

 

Appraisers In Baton Rouge: Baton Rouge Business Report & First American Core Logic: Baton Rouge Home Prices Down Slightly

https://www.appraisersinbatonrouge.com/ – Baton Rouge Business Report & First American Core Logic: Baton Rouge Home Prices Down Slightly

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(In this example above, this Baton Rouge Housing Market in 70815 has experienced more than just a slight decline in median sales price and an oversupply of competing housing. Parameters are the 1900sf to 2400sf living area size range)

The Link is Here! Here’s a snippet of from the report:

A new report says Baton Rouge home prices dropped 0.41% in August from the year before. First American Core Logic says the local Home Price Index was down from August 2008, after a 0.8% increase in July. That local decrease is much better than the 10.1% drop reported in First American’s national index in August. Louisiana’s index was down 3.9% during the month. First American predicts U.S. home prices will hit bottom in March, because of the increasing number of homes entering the foreclosure process and the expiration of a tax credit for first time homebuyers — although members of Congress are working to extend the credit into next year. By August 2010, First American projects the home price index will be up 4.6% nationally and 0.51% in Baton Rouge.”

 

Author’s Bio:

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Bill Cobb, CREA, is Greater Baton Rouge’s favorite and most reputable home appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 18 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.

Bill’s company, Accurate Valuations Home Appraisal Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).

Contact Bill Cobb and Accurate Valuations Home Appraisal Group for your next home appraisal:

Office: 225-293-1500,

Fax: 1-866-663-6065

[email protected]

http://www.batonrougerealestateappraisal.com/