Zachary Hills Estates 2011 Update. Zachary Hills is built up with a variety of both older 16-20 to 21-30 year old homes as well as newer homes in the 1 to 10 year old range, which creates a wider gap in the up and downs of home price trends charting. I said that to say that the ups and downs on the chart may not be as wide if the same age homes were compared.
Since the Federal Tax Credit Expiration in May 2010, the number of home sales in Greater Baton Rouge has continued to decline. Zachary Hills Subdivision, with only 1 home sale in the first 5 months of 2011 (as of 5/27/2011), appears to be experiencing this same trend of lower number of home sales.
A recent analysis of and home appraisal in Zachary Hills Estates Subdivision revealed this interesting finding. From 2008 to 2011, the median sales price has continued to remained in flux. From 2008 to 2011, the median sales prices have varied from $185,500, $193,500, $186,900 and in 2011 it’s currently $159,900 BUT based only on 1 sale at $91/sf of an older 21-30 year old home. The chart below has not yet been updated to reflect this 2011 sale.
CURRENT LISTINGS. There are 3 current listings from $170,900, $180,000 to $199,900 with 2 active and 1 pending or under contract. The Average Listing Price per sq. ft. is $99/sf.
NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2008 to May 27, 2011. This information was extracted on 5/27/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!