http://www.appraisersindenhamsprings.com/ - Western Livingston Parish LA Housing Trends: Spring Lake Subdivision 2008-2011. Since the Federal Tax Credit Expiration in May 2010, the number of home sales in Greater Baton Rouge has continued to decline. Spring Lake Subdivision, with 6 sales already in first 4.5 months of 2011, appears to be bucking this trend AND the median sales price is increasing, which is good news.
A recent analysis of Spring Lake Subdivision home sales revealed this interesting finding. From 2008 to 2011, the median sales price has continued to remained in flux. From 2008 to 2011, the median sales prices have varied from $189,700, $175,000, $180,200 and in 2011 it's currently $186,500 based only on 6 sales or $104.27/sf. Again, this is only based on 6 sales in the first 4.5 months of 2011. In 2010, there were 11 total sales, so, it appears that the number of 2011 home sales is on track to be as many as in 2010, which is good news and bucking the local trends of slower sales.
CURRENT LISTINGS. There are 9 current listings from $164,900 to $215,000 with 8 active and only 1 contingent/pending. So, there is a oversupply of available homes for sale. The Average Listing Price per sq. ft. is $101.25/sf.
DISTRESSED LISTINGS. Out of the 9 current listings, none are reported to be distressed in nature.
NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2008 to May 21, 2011. This information was extracted on 5/21/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!
Bill Cobb is Greater Baton Rouge’s Home Appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 20 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.
Bill’s company, Accurate Valuations Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).