I recently completed a home purchase appraisal in Bayou Grand South Subdivision in Gonzales Louisiana 70737. Gonzales is Greater Baton Rouge Suburb located south of Baton Rouge. Bayou Grand South may have been developed in 1950s, not exactly certain, with home sizes ranging from 776sf to 1850sf, average 1,290 sq. ft. The following is my report on the home sales trends that took place and the prices paid for these homes from January 2014 to November 2015 Year-To-Date.
*****READ MY CAUTIONARY WARNING ON A LISTING AT $121/SF WITHIN BAYOU GRAND SOUTH. IT WOULD NOT BE A WISE PURCHASE TO PAY $121/SF IN BAYOU GRAND SOUTH! Just because an Agent lists a home at a certain price does not mean that home is worth that price! Listing price could be what the seller wants for their home versus what the market will actually support. And, if 3 listings in there have been on the market for up to 167 days and are not selling, then the listing prices are probably what sellers want and have nothing to do with market support. Bayou Grand South is not a market you'd want to over pay within!*****
Gonzales Louisiana population 37K, rapidly expanding residential and commercial development since 1990s. Part of draw to North Ascension Parish is well performing public schools based on verified high scores of 104.9 and large base of Petro Chemical Industrial employment. Location is close to schools, shopping, employment and Interstate 10.
Bayou Grand South Subdivision Gonzales Home Sales Update 2014 to 11/10/2015:
Eight (8) Sales From $58,000 to $148,900
Median Sales Price $105,250
Average Sold Price Price $98,175
Average Sold Price Price Per Square Foot $72/sf
Average Listing To Sales Price Ratio: 95%
Average Days On Market: 50 Days
Average Size Home: 1,290 sq. ft.
Average Listing To Sales Price Ratio of 95% means homes on average are selling for 5% less than listed.
Current Bayou Grand South Subdivision Gonzales Listings:
ALL 3 are still Active Listings, on the market from 111 to 167 days, because they're over priced:
Three (3) Listings From $125,000 to $147,000 from $96/sf to $121sf
Average Listing Price $137,000
Average Listing Price Per Square Foot $105/sf
Average Home Listing Has Been On The Market for 140 Days.
The $147,000 listing at $121/sf is grossly over priced for Bayou Grand South! This listing has been on the market for 111 days, still active.
Ascension Parish Home Appraiser Website:
Ascension Parish Housing Updates:
Ascension Parish Home Appraiser on Twitter:
Ascension Parish Home Appraiser on Youtube:
GREATER BATON ROUGE REAL ESTATE DATA NOTE:
Based on information from Greater Baton Rouge Assocation of REALTORS®\MLS for period 01/01/2014 to 11/09/2015, extracted on 11/09/2015.