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.
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.
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 Median Sold Price 10-Year Chart: $303,500
+1.4 percent increase since December 2018 or 12-month look
Collins Place Median Sold Price Per SqFt 10-Year Chart: $126
-$5 per sqft decrease since December 2018 or 12-month look
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.