Collins Place Walker LA 2019 Home Prices Update

By
Real Estate Appraiser with Accurate Valuations Group, LLC LA St Certified 851

Collins Place is a beautiful development with upscale homes and the most elaborate entrance in the Walker Louisiana Housing Market. Homes in Collins Place were built by reputable Builders Ken Montgomery, Larry Milton, Bill Coxe, Dream Builders (Mike Lockhart), Crest Construction, Jeansonne Properties, and Mulina Builders.  Mr. Ken Montgomery has also built in University Club Plantation. 

  

collins place walker louisiana homes

In 2012, I  wrote 
Walker LA Collins Place Upscale Subdivision First To Rebound In 2012. What I know about Collins Place for this end of 2019 update is what I view within GBRMLS numbers
Read the important note at the bottom about these numbers being overinflated by $5,000+/-. 


After the August 2016 flood when Three Lakes Subdivision was so miserably damaged by floodwaters, it became very clear Collins Place was the top high-end development in Walker. Collins Place did not flood, which continues to strengthen its reputation. 

collins place 2019 sales prices

In 2019, there were 16 home sales from $239,000 to $342,700, from $115 to $140 per sq.ft., with a median sales price of $303,500 and $126 per sq.ft..  While the median sales price increased from $299,250 to $303,500, the median sales price per sq.ft. declined $5 from $131 to $126. 

 

collins place walker

 

Collins-Place-Sold-Prices-2007-to-2019

 

Collins Place Median Sold Price 10-Year Chart: $303,500

+1.4 percent increase since December 2018 or 12-month look 


If this chart can't be viewed, click here

 

 

 Collins Place Median Sold Price Per SqFt 10-Year Chart: $126

-$5 per sqft decrease since December 2018 or 12-month look

 

 

 If this chart cant' be viewed above, click here

 

Collins Place Median Percent Of Last List Price Per SqFt 10-Year Chart: 98.3 Percent This means homes in Collins Place in 2019 sold for a 1.7 percent discount off list prices. 

  


 
Regarding Seller Paid Concessions and Over Inflated Numbers
NOTE: This is common in most subdivisions under $300,000 within Greater Baton Rouge, not specific to Collins Place. The sales price numbers above include seller paid concessions where sellers paid the buyer's closing cost, from $1400 up to $10,000. On average, sellers paid $5,000 of the buyer's closing cost. And, know Home Appraisers do deduct seller paid concessions when using area sales based on GSE's instructions to do (Fannie Mae, Freddie Mac, FHA). This means when a Collins Place home sells for $287,900 yet the seller had to pay $6,500 of buyers closing cost, the seller received $281,400 at the closing table, not the $287,900 stated as the sales price in MLS or in Legal News. This is why area Appraisers will subtract $6,500 when using it as a sale. This also means these numbers are generally overinflated by $5,000+/-. Again, this is not specific to Collins Place.  And, my area study revealed seller paid concessions are INCREASING over the past 3 years where buyers have less of their own money into home purchases by 28 percent. Since 2017, sales with $6,000 or more in seller paid buyer’s closing cost increased from 499 to 858 or 72%.


GBRAR MLS NOTE: Based on info from the Greater Baton Rouge Association of REALTORS®\MLS for the period of 01/01/2007 to 12/31/2019. This information was extracted on 01/23/2020.

Comments (3)

MichelleCherie Carr Crowe Just Call...408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Thank you for the update on what's happening in your local market.

Jan 23, 2020 10:30 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Bill. Thanks for the update. Interesting to see what is going on in other areas. Enjoy your day!

Jan 24, 2020 04:35 AM
Nicholas Crane
Woodland Companies - Cadott, WI
Managing & Appraising Forest Land

Thanks for sharing the information on this community, I hope you sell many of these properties. 

Nick 

Jan 28, 2020 09:39 PM

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