One recent feature Greater Baton Rouge Paragon MLS MLSBOX added to help support adjustments in Baton Rouge Home Appraisal reports And Baton Rouge Real Estate Bloggers is a one page 4-5 charts by subdivision set of charts for up to 10 years! There's also 3 & 5 year options as well generated in seconds, no more need for the tedious Microsoft Excel task to manually download data to create these charts.
So, how does this help support adjustments, for example a market increase or time adjustment? While this chart lacks 2015 home sales data, we can see difference between 2013 and 2014 average sale price increased at least 10%. If for some reason an Appraiser is appraising a home in this subdivision in 2014 and using a June 2013 comparable, a +10% adjustment could be applied to reflect an increasing home price market. NOTE: I prefer to use median sales prices for such because median much more accurately reflects what happened and eliminates outliers (a $20,000 sale or odd $1,000,000 sale). Of course there's more than just looking at an average sales price chart to determine such an increase, especially when the number of sales shows to be declining.
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