While Sherwood Forest Baton Rouge Home Sales Are Even With 2012 YTD, Inventory Remains High at 8 Months Supply and Home Prices Are Up in 2013, Still Down 14.4% From Post Katrina Highs.
Interested in Other Subdivisions? See:
87 East Baton Rouge Subdivisions Median Sales Price Change 2012 vs 2013 YTD
PREFACE REGARDING SHERWOOD FOREST.
As you read about Sherwood Forest, remember that the Median Sales Price in 2010 was $181,000 and even at $155,000 YTD, Sherwood Forest home prices are still down 14.4% considerably from the totally insane Post Hurricane Katrina highs. Also remember that Sherwood Forest has experienced and I believe will continue to experience significant foreclosure activity.
While Baton Rouge Home Sales Are Stronger in 2013, Sherwood Forest Is Even On sales and Up On Home Prices. Fantastic report on increasing number of GBR Home Sales last week, Capital Region home sales rise 11.4% in July 2013 by Baton Rouge Business Report. While Sherwood Forest Home Sales Remain Flat and Inventory High, it has increased in Average and Median Sales Prices in 2013.
See Chart of Sherwood Forest with approximately 1,780 Lots, which is one of the larger subdivisions in Baton Rouge and would help determine home price direction because it's so large.
Here's the highlights of the Sherwood Forest Home Sales Number Year To Date:
1.) Average sold price per sq. ft. is down 1.5%.
2.) Number of closed sales is even at 67
3.) Median sold price is up 3.6% from $149,595 to $155,000
4.) Days on market is down 17.1% or 27 days
5.) Average Sold Price increased 9% from $147,127 to $160,181
6.) Average Listing Price of Pending Listings increased 7% from $151,898 to $162,889
MONTHS SUPPLY OF INVENTORY?
Per GBRMLS Sales and Inventory Report for Sherwood Forest 70815, July 2012 had 59 and 12 sales or 4.9 months supply. July 2013 had 56 and only 7 sales or 8 months supply. So, current supply at end of July 2013 was at 8 month and 3 months more than same time in 2012.
IS SHERWOOD FOREST A BUYERS OR SELLERS MARKET?
Based on an 8 month supply and only 7 homes per month selling based on July 2013 numbers, it would appear Sherwood Forest is in a Buyers Market trend.
NOT ALL IS POSITIVE IN TERMS OF HOME PRICES IN BATON ROUGE!
While the thinking is that BR Real Estate is doing great in 2013 and certainly the mood is up more upbeat with already over 5100 home sales in Greater Baton Rouge, it’s not necessarily so in all markets. Shenandoah Estates has about 3,000 lots and is a MAJOR bellwether barometer of housing’s local pulse. July 2013, which should have been strong in our minds based on strong sales reported by GBRMLS and Business Report, was very weak AND the Year To Date numbers speak volumes to me of correction, see explanation here: While Number of Baton Rouge Home Sales Are Up, Bellwether Shenandoah Estates Home Prices Are Down in 2013
GBRMLS NOTE:
This study compares July 2012 versus July 2013 sales and then Year-To-Date 01/01/2012 to 08/23/2012 versus 01/01/2013 to 08/23/2013. Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of 01/01/2012 to 08/23/2013. This information was extracted on 08/23/2013.
FYI! Bill Cobb, Baton Rouge's Home Appraiser
BATON ROUGE REAL ESTATE NEWS VIA SCOOP.IT
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