http://batonrougehousingreports.com/ – Baton Rouge Broadmoor Subdivision 2011 Comprehensive Housing Report. Broadmoor home prices decline or corrects in 2011 close to 10%.
Here is the report on Broadmoor Subdivision housing numbers based on 58 home sales from end of December 2010 to end of December 2011. Note: This was a search through ALL of the Single Family Homes Broadmoor Subdivisions in GBRMLS, not just “Broadmoor Subd”. From 2010 to 2011, the Average sold price declined from $169,689 to $153,349 or -9.6%. From 2010 to 2011, the Median sold price declined from $166,000 down to $150,500 or -9.3%. From 2010 to 2011, the average sold price per sq. ft. declined from $77.93 down to $69.65 or -$8.28/sf or -10.7%. The percentage of distressed sales jumped from 17% in 2010 to approximately 36% in 2011.
Solds In Broadmoor from 1/1/2010 to 12/31/2010 revealed:
Average Sales Price: $169,689
Average Sold Price Per Sq. Ft.:$77.93/sf
Median Sold Price: $166,000
Low To High Sales Prices: $85,000 to $259,950
Number of Sales: 59
Number of Sold Distressed REO/Foreclosures/3rd Party/Short Sales Noted: 10 or 17%
Solds In Broadmoor from 1/1/2011 to 12/31/2011 revealed:
Average Sales Price: $153,349
Average Sold Price Per Sq. Ft.:$69.65/sf
Median Sold Price: $150,500
Low To High Sales Prices: $63,000 to $316,000
Number of Sales: 58
Number of Sold Distressed REO/Foreclosures/3rd Party/Short Sales Noted: 21 or 36%
Distressed Sales To Blame For Declines? Yes! I suspect part of this decline was due to the generall overall housing correction taking place in Baton Rouge and 21 or 36% of the 58 total sales being distressed in some form compared to only 10 or 17% in 2010. This means that of the 58 total home sales, 21 or 36% were in some form of distress, which is very high for the Baton Rouge housing market.
Broadmoor Subdivision 2011 Comprehensive Housing Report. NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of 01/16/2011 to 01/16/2012. This information was extracted on 01/16/2012. Yes, this appraiser does have permission to use the subdivision chart above.
The statistics below are based on the same GBRMLS data and reveal totally different results, which may not be accurate based on the actual MLS chart above.
Dec-10 vs. Dec-11: The median sold price is down 8%
Dec-10 vs. Dec-11: The median price of for sale properties is up 8% and the median price of sold properties is down 8%
Dec-10 vs. Dec-11: The number of Sold properties is up 300%
Dec-10 vs. Dec-11: The number of Under Contract properties has not changed
Dec-10 vs. Dec-11: The number of New properties is down 62%
Dec-10 vs. Dec-11: The number of For Sale properties is down 16%
Dec-10 vs. Dec-11: The number of Expired properties is down 71%
Dec-10 vs. Dec-11: The number of for sale properties is down 16% and the number of sold properties is up 300%
Dec-10 vs. Dec-11: The average days on market is down 24%
Dec-10 vs. Dec-11: The average months supply of inventory is down 8%