East Baton Rouge Subdivisions With Most Sales Through March 2012
If you want to know which subdivisions in Baton Rouge are selling the most homes, then you have found the right page on the Baton Rouge Housing Reports Website! For specific subdivision studies, visit Baton Rouge Market Metrics.
After sorting through the hundreds of subdivisions in East Baton Rouge, we found 14 that have sold more homes than all the rest. And just to make it interesting, we have provided a graph of total home sales, by subdivision through March 22, 2012. It’s interesting that the Top 11 sales didn’t take place at all in a subdivision, but rather on Rural Tracts.
THE GOOD NEWS!
Good News is that home sales are up in 2012 approximately 12% above this time in 2011, per my most recent Week In Review Baton Rouge Real Estate here. And, subdivisions like Capital Heights, Woodridge, Bellingrath Lakes and Green Trails at Shenandoah appear to be doing well.
DISTRESSED SALES AND HOUSING CORRECTION IMPACT!
If you’re of the opinion that distressed sales (REO, Foreclosure, Short Sales or 3rd Party Sales) haven’t impacted our market significantly, that would be false thinking, at least for some MLS Areas. For example, look how far Sherwood Forest has dropped in pricing, average of $152,000, median of $103,750 and average of $67/sf showing that distressed sales are wreaking havoc on values in there. In 2010, the average and median were $183,000 and $181,000 and $75/sf. Same thing in Park Forest where prices have dropped to average $106,000, median $97,450 and average of $57sf showing that distressed sales are wreaking havoc on values in there. In 2010, the average and median were $135,000 and $143,000 and $72/sf. Same thing in Wedgewood where prices have dropped to an average $140,000, median $106,000 and average of $70sf showing market correction is impacting home values in there. In 2010, the average and median were $171,000 and $168,000 and $89/sf. Same thing in Fairwood Estates where prices have dropped to an average $135,000, median $131,000 and average of $85sf showing market correction is impacting home values in there. In 2010, the average and median were $160,000 and $164,000 and $93/sf.
NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2012 to March 22, 2012. This information was extracted on 03/23/2012.