Solds In Ascot Subdivision from 1/2010 to 10/02/2010 revealed:
Average Sales Price: $204,483
Average Sold Price Per Sq. Ft.: $111/sf ( $115/sf in 2009 )
Median Sold Price: $199,950 ( $208,000 in in 2009 )
Number of Sales: 6 ( 7 Sales In 2009 )
Average Number of Days On Market: 56
Low To High: $175,000 to $248,000
Number of Sold REO/Foreclosures Noted In MLS: 0
Current MLS # Listings: 0, 0 Are Foreclosures

There is 1 FSBOBR.COM Listing for $234,500 for 2,330sf or $100.64, Click Below for more information on this home.

Data for this housing market report was used with permission of GBRAR MLS, search dates from 1/1/2005 to 10/02/2010, extraction data 10/02/2010.

]]> http://www.batonrougerealestateappraisal.com/2010/10/baton-rouge-housing-trends-ascot-subdivision-2010-market-report/feed/ 0 http://www.batonrougerealestateappraisal.com/2010/06/baton-rouge-real-estate-area-53-oversupply-for-nicholson-lakes-subdivision/ http://www.batonrougerealestateappraisal.com/2010/06/baton-rouge-real-estate-area-53-oversupply-for-nicholson-lakes-subdivision/#comments Tue, 22 Jun 2010 10:30:01 +0000 Baton Rouge Real Estate Appraisal http://www.batonrougerealestateappraisal.com/baton-rouge-economic-news/baton-rouge-real-estate-area-53-oversupply-for-nicholson-lakes-subdivision/ http://www.accuratevg.com/ - Baton Rouge Real Estate: Area 53 Oversupply For Nicholson Lakes Subdivision! This isn’t a question but rather the numbers.

Median Sales Price History. For Nicholson Lakes, these are the median sales prices since 2006. From 2009 to 2010, this market is only down $900 (a -0.47% decline) and from the high in 2007, it’s down $4,000, which isn’t that unusual. What is unusual is the oversupply of competing listings, see below.

2006: $184,723
2007: $193,000
2008: $189,950
2009: $189,900
2010: $189,000

Market Conditions. 11 Months Supply of Housing On Market. 34 Competing Listings IS A MAJOR OVER-SUPPLY considering that only 34 solds took place in past 12 months. Still Strong 99% List-To-Sales Price Ratio.

Nicholson Lakes In 2010. Within Nicholson Lakes in 2010 based only on 5 sales, Median Sales Price $189,000, Average Sold Price Per Sq. Ft.: $128sf, Average SP/LP%: 99% and Average Days On The Market: 133 Days. The chart below represents competing solds in Area 53 since 6/2009 showing a declining median sales price of -3.63%, from $202,250 to $194,900. But again, the numbers above only show a -0.47% decline in Nicholson Lakes from 6/2009 to 6/2010.

REO Foreclosure Rate Remains Low. The chart below represents competing solds foreclosure rate in Area 53 since 6/2008 representing a 7% rate.

THE IMPORTANT INDICATORS:

1.) HOW MANY HOMES ARE LISTED IN NICHOLSON LAKES NOW, BOTH IN MLS AND FSBOBR.COM?

Answer: 21 (16 MLS Listings and 5 FSBOBR.com Listings) AND NONE ARE PENDING or Under Contract.

2.) IN MLS AREA 53, HOW MANY COMPETING HOMES ARE FOR SALE VERSUS HOW MANY SOLD IN PREVIOUS 12 MONTHS?

Answer: 34 and 34. This means that there are just as many homes for sale as those that have sold in the previous 12 months, indicating an oversupply. And, this doesn’t include the many listings in Springlake either.

3.) AVERAGE DAYS ON MARKET APPEARS TO BE INCREASING IN NICHOLS ON LAKES!

In 2009, average DOM was 117 days. In 2010, it’s been 133 days. And, 9082 Winding Lake Ave has been listed since 12/2009. 2938 Tide Dr has been listed since 1/2010. 3336 Southlake Ave has been listed since 2/21/2010. 9084 Eastbank Ave has been listed since 2/1/2010. So, it appears the days on market is increasing.

NOTE: Data used with permission of GBRAR MLS extracted on 6/22/2010, from 6/1/2008 to 6/22/2010.

Another Baton Rouge Homeowner Loses Money By Not Getting Appraisal. In June 2010, a Greater Baton Rouge homeowner is losing $15,000 in equity, selling FSBO or For Sale By Owner, by not getting a Pre-Listing Appraisal. No, this isn’t a distressed sale.

Chart #1 includes ALL solds from November 2008 to November 2009 YTD indicating a +7.36% increase in median sales price. ALL home sales includes both new home construction sales and existing home sales.

Chart #2 includes ONLY solds of existing homes from November 2008 to November 2009 YTD indicating a -0.66% decline in median sales price.

Current Listings. Currently, there are 29 listings within Springlake, from $196,900 up to $288,900. Of these listings, 15 are new construction and 14 are existing homes. The Average Listing Price is $238,655, Average Listing Price Per Sq. Ft. is $139.56/sf, Median Listing Price $239,500 and Average Days On Market 104 days. FSBOBR.com indicates 11 more current listings in Springlake from $198,000 up to $265,900. Assuming the 11 FSBOBR.com listings are not listed in MLS, that would total 40 current listings in Springlake, which would appear to be an oversupply and possibly the reason that the existing median sales price basically didn’t increase from 11/2008 to 11/2009.