Sherwood Forest Baton Rouge Home Price Already Correcting After Post-Flood Increases
I recently completed a home purchase appraisal in Sherwood Forest Subdivision Baton Rouge. Baton Rouge, population 228K (Greater B.R. 804K). Since the mid-1990s, Baton Rouge has experienced rapid residential and commercial development. Location is convenient to schools, employment, and shopping. Sherwood Forest was developed in the 1960s-1970s and is in the maturity phase of Neighborhood Lifecycle. Home sizes range from 1,254 sqft to 7073 sqft, average 2200sf to 2400sf.
The following is my report on the home sales trends that took place and the prices paid for these homes from January 2018 to November 11, 2019 Year-To-Date.
The increase in Sherwood Forest prices, or the dip and blip upward after 2016, was the result of the Great Flood of August 2016. After the flood, real estate investors moving in and bought low, sold very, very high for Sherwood Forest historically.
This chart shows a -$10,000 and -4.9 percent decline since October 2018.
For ALL home sales in "Sherwood Forest" Baton Rouge 1/1/2018 to 11/11/2019
175 Sales From $74,900 to $332,000
Median Sales Price $199,555
Average Sold Price $90/sf
Average Listing to Sales Price Ratio has been 98%
Average 75 Days On Market.
5 Year Sherwood Forest Median Sales Price Chart Currently $196,000, -$10,000 and -4.9 percent since October 2018
5 Year Sherwood Forest Median Sold Price Per SqFt Chart Currently $89 per sqft, -$2 per sqft and -2.2 percent since October 2018
or see https://gbrar.stats.showingtime.com/infoserv/s-v1/8A7N-93B
5 Year Sherwood Forest Median Days On Market Chart Currently 29 days on the market, a 31 percent decline or improvement since October 2018 Since October 2018,
or see https://gbrar.stats.showingtime.com/infoserv/s-v1/8ATt-CBU
5 Year Sherwood Forest Months Supply Of Inventory Chart 4.4 month supply, a -6.4 percent decline or improvement since October 2018
or see https://gbrar.stats.showingtime.com/infoserv/s-v1/8AT2-Vpi
5 Year Sherwood Forest Median Percent Of Last Listing Price Chart Currently 98.8 percent of listing prices, +0.3 percent since October 2018
5 Year Sherwood Forest Median Showings To Pending or Under Contract Chart Currently 11.5, -20/7 percent since October 2018 when it took 14.5 showings to receive a purchase agreement.
Greater Baton Rouge Home Appraisals 225-293-1500
Data source: GBRAR MLS from 1/1/2018 to 11/11/2019