Baker, Louisiana Appraisers Study Shows A Home Price Increase of 20.5% Pre To Post Hurricane Katrina

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

Baker, Louisiana Appraisers Study Shows A Home Price Increase of 20.5% Pre To Post Hurricane Katrina

   

William D. Cobb, a home appraiser with Accurate Valuations Group in the Greater Baton Rouge, LA market, is pleased to announce a gain in average home prices within Baker, Louisiana 70714, MLS Area 11.  Based on data obtained from The Greater Baton Rouge Board of Realtors, the gain in average homes prices within Baker, Louisiana Pre to Post Hurricane Katrina has been $19,781 or 20.53%. The median price has increased $23,750 or 26.69%.  The average price per square foot has increased $13.83/sf or 20.64%.  The number of sold listings increased from 127 up to 240 or 89%.

This is the Market Summary within Baker from 1/1/2005 to 8/28/2005 PRE HURRICANE KATRINA:  The average sale price was $96,333.   The median sold price was $89,000.   The average price per sq. ft. sold was $67.00/sf.   The average number of days on the market was 78.  The total # of listings were 127.  The low sales price was $57,800.  The high sales price was $210,000.

This is the Market Summary within Baker from 4/1/2006 to 4/19/2007 POST HURRICANE KATRINA:  The average sale price was $116,114.   The median sold price was $112,750.   The average price per sq. ft. sold was $80.83/sf.   The average number of days on the market was 58.  The total # of listings were 240.  The low sales price was $51,000.  The high sales price was $352,500.

Data Used With The Permission Of The Greater Baton Rouge Board of Realtors.   This data generally excludes REO/Bank Owned or Foreclosure Sales. 

William D. Cobb with Accurate Valuations Group has operated as a home appraiser for 15 years now primarily in the Greater Baton Rouge, Louisiana market.   For more information on William D. Cobb and Accurate Valuations Group, visit <a href=http://www.getfastvalue.com/>   This article was written with the assistance of R. C. Smith @http://www.1stsourceappraisals.com/ 

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Rainmaker
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Jennifer Kirby
Kirby Fine Homes - Minneapolis, MN
The Luxury Agent
We experienced the same thing in Pensacola after Hurricane Ivan hit in 2004. Prices soared and remained there for a year. In the fall of 2005, the artificially inflated home priced market came to a screeching halt. For the last year in a half, prices have been falling. They are now approaching where they would have been in 2004 should the hurricane never have hit us. People who bought at the extreme height in the market are now finding they cannot sell their home any where near what they bought it for. I am sure that your market will see a downturn in the future. It gets to a point where no one can longer afford to buy because income has not increased accordingly. I hope you do not see what we have been seeing the last two years in the Pensacola area, but do not be surprised if you start to see a correction at the two year mark.
Apr 27, 2007 02:14 AM #1
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