Magnolia Farms Subdivision Denham Springs Watson information.
Location is in City of Denham Springs or northern Denham Springs Watson section 70706 and believed to be inside favorable Live Oak School District. Magnolia Farms was developed in 2015 with approximately 94 smaller garden home lot sizes, average size lot 50 x 135. Home sizes appear to range from 1408sf to 1654sf, average 1,459sf. The following is my report on the home sales trends that took place and the prices paid for these homes from September 2015 to November 20, 2015 Year-To-Date. For Denham Springs historically, these are higher than normal priced new homes. However, construction cost are up, some buyers are buying and some may be hesitant because of high pricing based on 8 active listings and only 1 pending listing after an average days of listings 137 days. This is the first development in Denham Springs, known to be an afforable homes market, where new 1400sf homes have been even remotely approached pricing in the $180's to $190s.
Development website is: http://www.livemagnoliafarms.com
Construction quality appears to be "Good" with some wood beams and slab granite counters in Kitchen.
Magnolia Farms Subdivision Home Sales Update Baton Rouge 09/2015 to 11/20/2015:
Five (5) Sales From $181,475 to $190,870
Median Sales Price $186,400
Median Sold Price Per Sq. Ft.: $129/sf
Average Sold Price Price $185,679
Average Sold Price Price Per Square Foot $129/sf, from $129/sf to $130/sf
Average Listing To Sales Price Ratio: 100%
Average Days On Market: 135 Days
Average Size Home: 1,435 sq. ft.
NOTE: Average Listing To Sales Price Ratio of 100% means homes are selling for 100% of listing price!
Current Magnolia Farms Subdivision Denham Springs Listings:
Nine (9) Listings From $179,900 to $208,450 from $126/sf to $131sf
Average Listing Price $192,966
Median Listing Price $189,900
Average Listing Price Per Square Foot $129/sf
Average Home Listing Has Been On The Market for 137 Days.
NOTE: Eight (8) Listings are Active Listings, 1 Pending or Under Contract
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GREATER BATON ROUGE REAL ESTATE DATA NOTE:
Based on information from Greater Baton Rouge Assocation of REALTORS®\MLS for period 09/01/2015 to 11/20/2015, extracted on 11/20/2015.