http://www.batonrougehousingreports.com – Baton Rouge Housing Reports: The Lake At Twin Oaks May 2011 Home Price Trends.
According to the charting below, the Average Sales Prices have remained fairly STABLE each year since 2008. The Average Sales Prices have ranged from $390,000 in 2008 based on 2 sales to $390,000 in 2010 based on 4 sales with no MLS reported sales in 2009 or 2011 year-to-date. In 2008 and 2010, the Average Sold Price per sq. ft. were $129.94/sf and $127.89/sf.
Current Listings. Three (3) current listings, 2 active and 1 pending from $374,800, $575,000 and $475,000, priced very high from $145/sf, $151/sf and $154/sf. The term “very high” is used here because the local housing market is in its 8th month of home price correction per CoreLogic and the chart above shows support for $128/sf in 2010. This pricing above is $17/sf to $26/sf above 2010 support. Wow! There may be market support in 2011 for such pricing, not exactly sure! I’d strongly recommend a Pre-Purchase Home Appraisal before overpaying for Greater Baton Rouge housing as we continue to correct locally.
NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2006 to May 31, 2011. This information was extracted on 5/31/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!
Produced For Baton Rouge Housing Reports Dot Com by Bill Cobb, Appraiser with Greater Baton Rouge’s Accurate Valuation Home Appraisal Group!l