Greenwell Springs Central LA Appraisers: Bellingrath Lakes Sudivision 2010 Price Trends Wrap Up!

By
Real Estate Appraiser with Accurate Valuations Group, LLC LA St Certified 851

http://www.batonrougehomeappraisal.com/ - Greenwell Springs Central LA Appraisers: Bellingrath Lakes Sudivision 2010 Price Trends Wrap Up!

 

 

 

 

 

Overall, there were nine (9) 2010 sales which brought the median sales price higher than 2009's $304,400 and higher than 2008's $294,500.  In 2010 as compared to 2009, the Average Sales Price has declined 7.8%, Median Sales Price increased 3.5% and Average Sold Price Per Sq. Ft. declined $4.48/sf.   There is one (1) foreclosure noted on Lake Stream Drive.  And, that unfinished home that sat vacant for about 1 year or more was sold in 2010 for $148,000, an MLS sale, and is being finished.  

NOTE: If you are considering purchasing a home in Bellingrath Lakes and don't want to pay too much, I would advise one to order a "Pre-Purchase Appraisal" from Accurate Valuations Group as there are at least two (2) current listings in Bellingrath Lakes well above market support.  

 

 

Solds In Bellingrath Lakes Subdivision from 1/1/2010 to 12/31/2010 revealed:

Average Sales Price: $293,700 ($318,550 in 2009)
Avg Sold $ Per Sq. Ft.: $119.27/sf  ($123.75/sf in 2009)
Median Sold Price: $314,900  ($304,400 in 2009)
Number of "MLS" Sales: 9 (6 in 2009)
Average Number of Days On Market: 102 (188 in 2009)
Low To High: $155,000 to $162,000
Number of Sold REO/Foreclosures Noted In MLS: 1
Current # Listings: 4, 0 Are Foreclosures
Current Listings Prices: $285,000 to $379,000 or $120/sf to $149/sf.  NOTE: The $142/sf listing on Bellingrath Lakes Ave, not on the lake, is grossly overpriced for this market based on the numbers or support above.

 

 

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2009 to December 31, 2010.  This information was extracted on 1/10/2011.  Yes, this appraiser has obtained permission from GBRAR MLS to use the above pricing chart!

 

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Bill Cobb

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