Old Jefferson Subdivision Housing Market Correction 2011 Baton Rouge 70817.
From 2010 to end of 2011, Old Jefferson Subdivision finally received the housing maket correction it had coming. In 2004 and before Hurricane Katrina, the median sales price was $114,250. Then in 2005 and the advent of Hurricane Katrina in 8/2005, it increased to $124,500. Then in 2006, it rose to $137,000, then $145,500, then to the high of $149,900 in 2008 where in Baton Rouge this was a very high price. In 2011, there was a severe correction down to $124,950 from $145,000 in 2010, a decrease of 13.8% and -$18.63/sf. There were 5 distressed sales in 2011. Was this correction sustainable? Two sales in 2012 with median sales prices of $124,729 show this correction is sticking, yes, they were 2 distressed sales in 2012. There are several high priced listings in Old Jefferson. Median Sales Price is $126,250. Higher priced listings are the reason the marketing time is has increased to 128 continuous days on the market.
NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of February 1, 2009 to March 2, 2012. This information was extracted on 03/02/2012. Yes, this Appraiser has the permission to use this chart above in this article.