http://www.batonrougerealestateappraisal.com/ – Baton Rouge Real Estate Observations: Southwest Baton Rouge Market Shows Strong Comeback into 2010
Wow, what a difference 6 months can make in a housing market. I appraised a home in Cottage Hill Subdivision 70809 in October 2009 and again in April 2010.
The differences in that housing market is like night and day. See Below!
Market Conditions Description in 10/2009:
Declining Market of -4.39% Since 10/2008. 28 Months Supply of Housing On
Market. 19 Competing Listings Does Indicate an Over-Supply (includes FSBO listings). 96% List-To-Sales Price Ratio. While comps 1-3 show 1-3
months marketing time, 28 Month Supply and an oversupply indicate over 6 months.
Market Conditions Description in 4/2010:
Stable to Increasing Market of 8.49% Since 4/2009. 6.3 Months Supply of
Competing Housing On Market. 14 Competing Listings Does Indicate an Over-Supply (does not include FSBO’s). 97% List-To-Sales Price Ratio.
NOTE: Based on Detached Single Family information from the Greater Baton Rouge Association of REALTORS\MLS for the period 10/01/2007 through 10/15/2009 versus 04/17/2008 to 04/17/2010. MLS Areas 53, 61 and 62, Slab Foundation, 2100sf to 2500sf, 6-10 to 16-20 Yrs old. This information was extracted on 10/15/2009 and 04/22/2010.
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