Bright Spot in Baton Rouge Housing. There’s a bright spot in Baton Rouge Housing in 2011 – The Lakes At White Oak Subdivision. In the slower sales market of 2011, there’s already been 18 sales year-to-date versus only 16 total for 2010. The chart below shows the median sales price is up 7.8% from August 2010 to August 2011 and up 5.1% since after Hurricane Katrina (or as of 1/1/2006).
There’s so much confidence in this neighborhood that a buyer, in the midst of a national recession, paid $791,500 or $154/sf for 6353 Double Tree Drive, see photo below. 6016 North Shore Drive sold for $464,000 in 1/2011 for $157/sf. A home on North Shore Ct is under contract for an unknown price and listed for $529,500 or $159/sf. Of course, these are homes on the lake and are the exception and not the typical sales price. For 2011, the median sales price for the year is $337,319 or $113/sf.
If there’s any negative report, it’s the 12% REO or sold foreclosure rate or 17 out of 140 total sales.
This home at 5741 Lake Shadow Drive sold for $355,000 or $129/sf in 6/2011
6353 Double Tree Drive (Private Entrance)
From 01/01/2006 to 08/28/2011, GBRMLS is showing 17 REO or Foreclosure sales in The Lakes At White Oak Subdivision out of 140 total sales or about 12%, which is fairly high for East Baton Rouge Parish.
NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2006 to August 28, 2011. This information was extracted on 08/28/2011. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!
Author: Bill Cobb, Appraiser