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Posts Tagged ‘Price Ratio’
Home Purchases In Greater Baton Rouge Pick Up Momentum, Market Report May 2011
05/24/2011 | 
Author http://www.homeappraisalsbatonrouge.com/ – Greater Baton Rouge Home Purchases Pick Up Steam, Market Report May 2011
THE GOOD NEWS!
There’s Confidence in the local Greater Baton Rouge housing market! The home purchase appraisal orders have really picked up this week with momentum like I haven’t seen yet this year. Just this week, we’ve seen a surge of orders for home purchases. Bill Cobb, Appraiser
THE NOT-SO GOOD NEWS!
Baton Rouge Business Report‘s Real Estate Weekly reports the housing market as “flat” in Louisiana and down in Baton Rouge.
According to the Businss Report, “The number of houses sold in Louisiana during the first quarter was virtually unchanged from the first three months of 2010. There were 5,604 homes sold through the end of March, according to figures from the Louisiana Realtors. That’s 0.6% more than the 5,568 homes sold through the first quarter of 2010. Houma-Thibodaux was the strongest metro market, with 202 homes sold during the quarter, a 14.1% increase over the first three months of 2010. The Lake Charles market also saw a double-digit percentage increase, with 289 sales, 10.3% more than the 262 sold in the first quarter of 2010. Home sales were up 7.9% in New Orleans to 1,837, 2.6% in Lafayette to 640, and 2.5% in Alexandria-Pineville to 248. Shreveport-Bossier City had the biggest sales drop, falling 12.8%. There were 775 homes sold during the first quarter, compared with 889 the year before. Monroe had a 4% drop in sales, to 388; and Baton Rouge was down 3.3%, to 1,225. Statewide, the average sale price of a home fell by 1.5%, from $177,381 to $174,687. For the rest of Real Estate Weekly, click here.
AND, LOCAL AGENT, RYAN SPENCER, OFFERS HIS UPDATE!
“1st Quarter 2010 to 2011 Avg. List Price $198,078/$192,161
Avg. Sale Price $191,506/$185,769
Avg. Days on the Market 95/104
List to Sale Price Ratio 96.68%/96.67%
Months of Inventory 9.19/10.76
The home buyer tax credit was in effect last year which may have boosted sales numbers in the first quarter of 2010. Despite tough economic times our market is still pretty strong overall. If you have any questions please contact me at 225-505-5619 or email me at ryan.spencer@coldwellbanker.com“
Posted in Baton Rouge Economic News, Baton Rouge Home Appraisers, Baton Rouge Housing Market, Baton Rouge Pre-Listing Appraisals, Baton Rouge Real Estate | 
Tags: Alexandria, Appraisal Orders, Bill Cobb, Business Report, First Quarter, First Three Months, Greater Baton Rouge, Home Buyer, Home Purchases, Housing Market, Lake Charles, Louisiana Realtors, Metro Market, Momentum, Percentage Increase, Price Ratio, S Real Estate, Shreveport Bossier City, Tax Credit, Thibodaux | 
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Prairieville La House Appraisers: Lakes At Oak Grove Homes Sales Report 2011
http://www.facebook.com/ascrebuzz – Prairieville La Home Appraisers: Lakes At Oak Grove Homes Sales Report 2011. Since May 2010, median sales price has risen 4%.
A recent home appraisal in and analysis of Lakes At Oak Grove Subdivision revealed this interesting finding. From 2008 to 2011, the median sales price has declined from $237,800 to $227,800 to $229,700 to now $235,000 into 2011 based only on 1 sale. So, 2008 was the post Hurricane Katrina “High” year followed by 2 years of declines. 2011 at $235,000 is higher than 2009 and 2010. Again, 2011′s $235,000 is only based on 1 sale while 2010′s $229,700 was based on 5 sales. The Listing-To-Sales-Price-Ratio at 98% is the highest since 2007.
TWO MLS CHARTS OF ALL HOME SALES SINCE 2005
The Chart below shows all home sales since 2005. The median sales price is still down -1.6% since the high in 2007. The median sales price has risen 4% since May 2010. But Again, this chart’s is greatly weighed upward based on this one (1) 2011 sale of $235,000.
NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2005 to May 8, 2011. This information was extracted on 5/8/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!
AUTHOR’S BIO:
Bill Cobb is Greater Baton Rouge’s Home Appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 20 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.
Bill’s company, Accurate Valuations Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).
Contact Bill Cobb and Accurate Valuations Home Appraisal Group for your next home appraisal:
Office: 225-293-1500, Cell: 225-953-0638
Fax: 1-866-663-6065
info@accuratevg.com
http://www.accuratevg.com/
Posted in Ascension Parish Real Estate News, Baton Rouge Housing Market, Baton Rouge Pre-Listing Appraisals, Baton Rouge Real Estate, Trends Baton Rouge Real Estate | Tags: Accura, Accurate Valuations, Appraisal Group, Appraisal Office, Ascension Parish, Association Of Realtors, Bill Cobb, Gbrmls, Home Appraisal, Home Appraiser, Home Appraisers, Hurricane Katrina, Livingston Parish, Median Sales Price, Price Ratio, Price Trends, Property Values, Real Estate Investors, Wealth Of Knowledge, West Baton Rouge Parish | No Comments »
Prairieville Home Appraisals Reports On Les Chenier Subdivision 2011
http://www.facebook.com/ascrebuzz – Prairieville Home Appraisals Reports On Les Chenier Subdivision 2011. So far, only one (1) home sale in 2011, a foreclosure for $155,000.
I had a local real estate agent contact me last week asking for a update on Les Chenier Subdivision as there really hasn’t been much home sales activity in this development, but a development that has experienced some REO or foreclosure activity.
This development has puzzled me for several years as to how it climbed so high in home prices after Hurricane Katrina for these smaller homes. The Median Sales Prices from 2005 to 2010 climbed and then rightfully so corrected from $167,000, $186,000, $191,000, $195,250, $193,500, $180,000 and now one (1) distressed sale in 2011 for $155,000. It would appear that the $193,500 to $195,000 price range is high for Les Chenier, or about $117/sf. I’m just not sure that over $117/sf is really sustainable for Les Chenier interior lots (those homes not fronting McCrory Rd 1). And, I just posted a video report about the housing price corrections taking place in in this immediate market here: Ascension Parish Home Appraiser Charting Of Declining Housing Market 2008-2011
Total # 2010 Sales: 7
Average Sales Price: $191,964
Median Sales Price: $180,000
Average Sold Price: $111.60/sf
Average List To Sale Price Ratio: 98%
Average Days On Market: 85
FORECLOSURES.
Regarding REOs, 1 2010 sale was an REO and the 1 2011 sale was an REO or Real Estate Owned. According to Legal News, there have been 3 REO sales since 1/2010 being Lots 25, 29 & 90.
CURRENT LISTINGS: ZERO FORECLOSURES!
There are currently 6 listings from $179,900 up to $210,900 or $114/sf up to $126/sf, which some are priced high and certainly not priced according to the correction in home prices taking place in this market. In fact, if one examines the 2007 to 2009 highs in the market on that chart above, the average sold prices per sq. ft. were $116.51/sf, $119.53/sf and $115.38/sf. So, why in 2011, when the market isn’t as strong, are there homes listed above the previous highs, homes listed at $120/sf, $125/sf, $126/sf and $126/sf? Of all 6 listings, all are Active and none are Pending.
Keep Up With Ascension Parish Real Estate Buzz on Facebook!
NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2005 to April 23, 2011. This information was extracted on 4/23/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!
Top Subdivision Entrance Photo Is Courtesy of Homes Of Baton Rouge Blog: http://www.homesalesofbatonrouge.com/
Author’s Bio:
Bill Cobb is Greater Baton Rouge’s Home Appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 20 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.
Bill’s company, Accurate Valuations Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).
Contact Bill Cobb and Accurate Valuations Home Appraisal Group for your next home appraisal:
Office: 225-293-1500, Cell: 225-953-0638
Fax: 1-866-663-6065
info@accuratevg.com
http://www.accuratevg.com/
Posted in Ascension Parish Real Estate News, Greater Baton Rouge Divorce Appraisals, Greater Baton Rouge Economic News, Greater Baton Rouge Real Estate News, Greater Baton Rouge Subdivision Video Tours | Tags: Amp, Charting, Chenier, Foreclosure, Foreclosures, Home Appraisals, Home Appraiser, Housing Market, Hurricane Katrina, Legal News, Local Real Estate, Median Sales Price, Median Sales Prices, Price Ratio, Real Estate Agent, Reo Sales, Sq Ft, Video Report | No Comments »
Baton Rouge Home Appraisal Trends: Prairieville Housing Market Update
http://www.batonrougerealestateappraisal.com/ – Ascension Parish Prairieiville La Home Sales Trends: Manchac Crossing 2005-2010 Home Sales Report
Average Sales Price: $236,700
Median Sales Price: $233,500
Average Sold Price: $117.25/sf
Average List To Sale Price Ratio: 96%
Average Days On Market: 62
One 2011 Sale $205,000 or $124/sf. It appears Manchac Crossing Median Sales Prices are continuing to Decline from 2008 highs of $242,750. Median Prices since 2006 have been $218,000, $219,950, $242,750, $237,500, $233,250 and now $205,000 in 2011. So, there was the rise in prices after Hurricane Katrina, then the deflating of the market!
NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2005 to March 25, 2011. This information was extracted on 03/25/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!
Posted in Ascension Parish Real Estate News, Trends Baton Rouge Real Estate | Tags: Association Of Realtors, Gbrmls, Greater Baton Rouge, Home Appraisal, Housing Market, Hurricane Katrina, January 1, March 25, Median Prices, Median Sales Price, Median Sales Prices, Price Ratio, Price Trends, Sales Trends | No Comments »
Baton Rouge Housing Trends: Woodstone Estates 2005-2010 Home Sales Report
http://www.homeappraisalsbatonrouge.com/ – Baton Rouge Housing Trends: Woodstone Estates 2005-2010 Home Sales Report
Total # 2010 Sales: 11
Average Sales Price: $385,127
Median Sales Price: $384,900
Average Sold Price: $116.37/sf
Average List To Sale Price Ratio: 96%
Average Days On Market: 132
One 2011 Sale $389,000 or $129/sf. It appears Woodstone Median Sales Price Is Increasing Again. Median Prices since 2007 have been $462,600, $417,450, $315,000, $384,900 and now $389,000 in 2011. So, there was the rise in prices after Hurricane Katrina, then the deflating of the market and now this specific market appears to be on the rise!
NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2005 to March 25, 2011. This information was extracted on 03/25/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!
Posted in Baton Rouge Appraisal, Baton Rouge Appraisals, Baton Rouge Appraisers, Baton Rouge Home Appraisers, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Trends | Tags: Association Of Realtors, Gbrmls, Greater Baton Rouge, Hurricane Katrina, January 1, March 25, Median Prices, Median Sales Price, Price Ratio, Price Trends | No Comments »
Baton Rouge Real Estate: Kildare Subdivision Housing Report
http://www.batonrougehomeappraisal.com/ – Baton Rouge Housing Statistics: Kildare Subdivision 70812 Housing Numbers.
Solds In Kildare Subdivision have varied from lows to highs in terms of the Average and Median Sales Prices by year from 2006 up to 2011. The variance in the these range from $45,000 up to $152,500 depending on how many REO or foreclosure sales took place in Kildare during any given year. For example, the average sales prices since 2006 were $100,600, $89,000, $137,000, $87,700 and $122,500, which is a very wide spread. With the exception of 2009, there were few sales in each year. 2010 Data is reported below and there has already been one (1) REO or Foreclosure sale in 2011 for $45,000 for an 1,872sf home on 0.55 acre lot. In 2010, there were two (2) unusually high sales for $152,500 and $175,000. The $152,500 sale was for 2,919sf on about 1 acre and the $175,000 was for a 4,907sf on large lot with pool, 2 kitchens and apartment. Average days on market in 2010 was 300 days with a weak listing-to-sales price ratio of 92%.
Average Sales Price: $122,500
Average Sold Price Per Sq. Ft.: $36/sf
Median Sold Price: $152,500
Number of Sales: 3
Low To High: $40,000, $152,500 to $175,000
Number of Sold REO/Foreclosures Noted In MLS: 1
Current # MLS Listings: 2
Current Listings Prices: $75,000 To $89,900
Author’s Bio:
Bill Cobb is Greater Baton Rouge’s Home Appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 20 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.
Bill’s company, Accurate Valuations Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).
Contact Bill Cobb and Accurate Valuations Home Appraisal Group for your next home appraisal:
Office: 225-293-1500, Cell: 225-953-0638
Fax: 1-866-663-6065
NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2006 to March 23, 2011. This information was extracted on 03/23/2011. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!
Posted in Baton Rouge Appraisal, Baton Rouge Appraisals, Baton Rouge Appraisers, Baton Rouge Economic News, Baton Rouge Housing Market, Baton Rouge Real Estate Trends | Tags: Accurate Valuations, Appraisal Group, Appraisal Office, Ascension Parish, Baton Rouge Parish, Baton Rouge Real Estate News, Bill Cobb, Foreclosure Sales, Home Appraisal, Home Appraiser, Kildare, Livingston Parish, Median Sales Prices, Mls Listings, Price Ratio, Property Values, Real Estate Investors, Reo, Wealth Of Knowledge, West Baton Rouge Parish | No Comments »
Western Livingston Parish Home Appraisers: August 2010 Market Data
http://www.denhamspringsappraisers.com/ - Western Livingston Parish Home Appraisers: August 2010 Market Data
The August 2010 housing numbers are in from the Greater Baton Rouge Association of Realtors from 8/1/2010 to 8/31/2010 and from 8/1/2009 to 8/31/2010, extracted on 9/16/2010.
Livingston Parish August 2010 Market Data
(For MLS Areas 80, 81, 82 & 83)
Total Monthly Sales: 56 (Lowest Number Of Sales In Period)
Average Listing Price: $164,295 ($162,914 in 8/2009)
Average Sold Price: $161,018 ($160,232 in 8/2009)
Median Sold Price: $140,900 ($152,500 in 8/2009)
Average Days On The Market: 92 (85 in 8/2009)
Listing To Sales Price Ratio: 98% (98.3% in 8/2009)
Current Inventory: 811 (703 in 8/2009)
Months of Inventory: 14.5 (Longest In Period, 5.9 in 8/2009)
Annual View From 8/2009 to 8/2010:
Total Monthly Sales: 1210
Average Listing Price: $167,849
Average Sold Price: $164,948
Median Sold Price: $152,147
Average Days On The Market: 90
Listing To Sales Price Ratio: 98.3%
Average Current Inventory: 719
Average Months of Inventory: 7.1
Accurate Valuations Group’s “MARKET WRAP”:
NUMBER OF HOME SALES DECLINES. Based on these numbers, home sales are slowing considerably from 120 in August 2009, 109 in June 2010, 83 in July 2010 to just 56 in August 2010, a decline of -53% since August 2009.
LOCAL HOUSING INVENTORY SWELLS. With the number of home sales declining, this resulted in an increase to over 14 months of inventory. The good news is that in August, it still took an average days on the market of 92 days to sell a home.
MEDIAN SALES PRICE DECLINE. The median sales price declined sharply from $152,500 in August 2009, $149,000 in June 2010, $155,000 in July 2010 to just $140,900 in August 2010, a decline of -7.6% since August 2009. This shows that this market continues to favor the more affordable housing options over that of the higher end homes market. Area home builders have reacted and are building smaller homes to accomodate this market demand.
WHY WE USE MEDIAN SALES PRICE OVER AVERAGE SALES PRICE? NOTE: Why Median Sales Price is a better indicator than Average Sales Price! Median Sales Price is the barometer by which the National Association of Realtors uses to report on national housing markets. Average Sales Price tends to take all of the home sales prices from the lowest, say $50,000, to the highest, say $1,000,000, and state the average of them all, sometimes skewing the numbers because of the extreme highs and lows. Median Sales Price tends to focus more on the middle of where the bulk of home sales prices are taking place. Generally, the Average Sales Price is going to be higher because it includes the extreme high sales prices in a given market.
Posted in Greater Baton Rouge Economic News, Greater Baton Rouge Real Estate News, Greater Baton Rouge Subdivision Video Tours, Livingston Parish Real Estate News | Tags: Accurate Valuations, Affordable Housing, Amp, Association Of Realtors, Greater Baton Rouge, Home Appraisers, Home Builders, Livingston Parish, Median Sales Price, Mls Areas, Period Average, Price Decline, Price Ratio, S Market, Swells | No Comments »
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.
Posted in Baton Rouge Appraisals, Baton Rouge Appraisers, Baton Rouge Economic News, Baton Rouge Real Estate, Greater Baton Rouge Economic News, Greater Baton Rouge Real Estate News | Tags: 12 Months, Baton Rouge Real Estate News, Baton Rouge Real Estate News, Decline, Foreclosure, Fsbobr, Homes For Sale, Homes Sale, Median Sales Price, Median Sales Prices, Mls Listings, Months Supply, Nbsp, Oversupply, Price History, Price Ratio, Solds, Springlake, Sq Ft | No Comments »
Baton Rouge Real Estate Observations: Southwest Baton Rouge Market Shows Strong Comeback into 2010
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.
CLICK TO ENLARGE
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.
CLICK TO ENLARGE
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.
Tags: Baton Rouge Estate Appraisers, baton rouge homes, baton rouge housing, baton rouge real estate
Posted in Agents In Baton Rouge, Baton Rouge Economic News, Baton Rouge Home, Baton Rouge Home Appraisers, Baton Rouge Homes, Baton Rouge Houses, Baton Rouge Real Estate, Baton Rouge Realtors, Real Estate Baton Rouge | Tags: April, Association Of Realtors, Baton Rouge Real Estate News, Baton Rouge Real Estate News, Declining Market, Detached Single Family, Estate Appraisers, Estate Homes, Fsbo Listings, Greater Baton Rouge, Hill Subdivision, Housing Market, Marketing, Mls Areas, Months Supply, Oversupply, Price Ratio, Slab Foundation, Southwest, Stable, Wow | 1 Comment »
Geismar Dutchtown FHA Appraisers Report On Old Mill Subdivision
http://www.ascensionrealestateappraisers.com/ – Geismar Dutchtown FHA Appraisers Report On Old Mill Subdivision
A market analysis of solds from 8/1/2008 to 11/23/2009 within Old Mill Subdivision shows an overall median sales price decline of -3.58% on what appears to be low volume. However, the Listing Price To Sales Price Ratio still remains high or favorable at 100% of listing price. The chart below represents solds from 1/1/2007 to 11/23/2009.
1004MC of Old Mill Itself
