Pelican Point Golf Home Prices Reach New Lows In 2012 Gonzales Louisiana
Wow! Pelican Point Golf Community home prices have certainly taken a dive from years 2010 through 2012. After Hurricane Katrina in 08/2005, which created great demand for Greater Baton Rouge Housing, Pelican Point home prices rose to highs of median sales price of $322,750 in 2006 and $130.19/sf in 2007. Since that time, there’s been a steady consistent decline down to only $107.87/sf and $283,463 in 2012 based on 26 sales. 26 Sales represents a very solid trend! So, the median sales price has fallen -$39,287 and the average sold price per sq. ft. a whopping -$22.32/sf.
Why? Distressed Sales! According to GBRMLS search, of the 26 total 2012 sales, 11 or 42% were distressed in nature.
Non-Distressed Sales. Non-Distressed Home Sales averaged $285,115, $115.53/sf, median $285,000 from $175,000 to $408,829 and average 243 days on the market. At $115.53/sf, this is still close to $15/sf below 2007 highs of $130/sf, a correction of -11.3%.
Pelican Point Golf Community Housing Market Study presented by Bill Cobb and Accurate Valuations Group North Ascension Parish Home Appraisals.
NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of 01/01/2005 to 06/15/2012. This information was extracted on 06/15/2012. YES, this Appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!