Livingston Parish Real Estate Market Update - September 2008

Livingston Parish, like Ascension and East Baton Rouge parishes, was negatively effected by hurricane Gustav. Unit sales fell dramatically during September. The following chart illustrates the impact of Gustav upon unit sales in Livingston Parish.

Home have also remained a good investment in Livingston Parish. The following chart shows that average prices in the new home market segment increased during 2008 and homes in the re-sale segment held their values. This is a far different situation than we are seeing in some other areas of the country where the bubble has burst, foreclosures are up and prices have fallen. We will continue to closely monitor prices in our area as the country makes its way through the current economic crisis.

The following set of charts shows absorption rates for the past five years as compared with 2008 and relates that rate to current inventory levels.

Sales of new homes remains depressed compared with prior years. Home sales in the re-sale market segment have settled back to pre-Katrina levels. In the re-sale segment, inventories in the highest velocity price ranges (below $200K) are either in balance or insufficient to meet the demands of the marketplace. Over $200K it rapidly becomes a Buyer’s market where supply exceeds the demand.

The preceding analysis was based upon data extracted from the Greater Baton Rouge Association of Realtors MLS system. The information contained herein is presumed to be accurate but is not warranted.

As always, I welcome readers to visit my websites at www.TheHomeVendor.com or www.LiveAscension.com or www.DonAndAlishaStern.com for real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.

©2008 by Don Stern - all rights reserved

East Baton Rouge Parish Real Estate Market Update - September 2008

As previously reported for Ascension Parish, Hurricane Gustav did not impact the Greater Baton Rouge Real Estate Market like Hurricane Katrina did in 2005. In fact, it had the opposite effect. With massive power outages effecting the Greater Baton Rouge area the sales of detached single family homes plummeted during September. The following chart illustrates the impact of Gustav upon unit sales in East Baton Rouge Parish.

Home have remained a good investment in East Baton Rouge Parish. The following chart shows that average prices in the new home market segment increased during 2008 and homes in the re-sale segment held their values. This is a far different situation than we are seeing in some other areas of the country where the bubble has burst, foreclosures are up and prices have fallen. We will continue to closely monitor prices in our area as the country makes its way through the current economic crisis.

The following set of charts shows absorption rates for the past five years as compared with 2008 and relates that rate to current inventory levels.

Sales of new homes remains depressed compared with prior years. Unit sales in the re-sale market segment are also down. The good news is that overall inventory is more or less balanced. In fact, in the lower price ranges it remains a Seller’s market overall.

The preceding analysis was based upon data extracted from the Greater Baton Rouge Association of Realtors MLS system. The information contained herein is presumed to be accurate but is not warranted.

As always, I welcome readers to visit my websites at www.TheHomeVendor.com or www.LiveAscension.com or www.DonAndAlishaStern.com for real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.

©2008 by Don Stern - all rights reserved

Ascension Real Estate Market Update - September 2008

Hurricane Gustav did not impact the Greater Baton Rouge Real Estate Market like Hurricane Katrina did in 2005. In fact, it had the opposite effect. With massive power outages effecting the Greater Baton Rouge area the sales of detached single family homes plummeted during September. The following chart illustrates the impact of Gustav upon unit sales in Ascension Parish.

We live in interesting times. It will be interesting to see whether unit sales will rebound in October because, in addition to the effect that Gustav had on our local market, we are faced with the current financial crisis on a national level and the resultant limited availability of credit. Thus far, however, our area has not been affected as strongly as other areas of the country. In fact, the following chart illustrates that average home values in the parish have held at 2007 levels thus far during 2008.

The following set of charts shows absorption rates for the past five years as compared with 2008 and relates that rate to current inventory levels.

Sales of new homes remains depressed compared with prior years. The re-sale market has, however, remained relatively strong. While the surge in demand created by Hurricane Katrina is certainly finished, previously owned homes are still selling at pre-Katrina rates. In fact, it is a Seller’s market for homes selling below $200K. It is, however, clearly a Buyer’s market for homes in this segment that are priced above $300K.

The preceding analysis was based upon data extracted from the Greater Baton Rouge Association of Realtors MLS system. The information contained herein is presumed to be accurate but is not warranted.

As always, I welcome readers to visit my websites at www.TheHomeVendor.com or www.LiveAscension.com or www.DonAndAlishaStern.com for real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.

©2008 by Don Stern - all rights reserved

Livingston Parish Real Estate Market Update - July 2008

This report presents a comprehensive view of the real estate market for detached single-family homes in Livingston Parish.

Historical and current data were obtained from the Greater Baton Rouge Association of Realtors MLS database. Data were extracted representing sales from January 1, 2003 through July 31, 2008. Only data for Detached Single Family homes were included in the analysis. Manufactured homes and multi-family dwellings are outside the scope of this analysis.

Livingston Parish Unit Sales

Home sales in both the new construction and re-sale market segments dropped in July. Normally we would expect to see an increase in home sales during July. I’ll continue to monitor the situation closely.

The following chart illustrates how home sales in July of 2008 are below those during any of the previous five years.

Livingston Absorption

New homes under $200K are selling at a rate consistent with the inventory levels. In fact, in this lower price range it is a seller’s market. Buyer’s market conditions exist when prices exceed $250K where inventory levels are higher than the demand would suggest.

Overall, the situation is somewhat worse in the re-sale market segment where supply generally exceeds demand in all but the very lowest (under $150K) price ranges. The most active price ranges were under $200K where 52% of home sales were recorded.

Livingston Home Prices

Prices in Livingston parish continue to appreciate. New homes average just under $200K whereas homes in the re-sale segment averaged just over $164K during the first seven months of the year.

As always, readers are encouraged to contact me directly for more information or to make suggestions on how this information might be improved.

I welcome readers to visit my websites at www.TheHomeVendor.com or www.LiveAscension.com for real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.

©2008 by Don Stern - all rights reserved

East Baton Rouge Parish Real Estate Market Update - July 2008

This report presents a comprehensive view of the real estate market for detached single-family homes in East Baton Rouge Parish.

Historical and current data were obtained from the Greater Baton Rouge Association of Realtors MLS database. Data were extracted representing sales from January 1, 2003 through July 31, 2008. Only data for Detached Single Family homes were included in the analysis. Manufactured homes and multi-family dwellings are outside the scope of this analysis.

East Baton Rouge Parish Unit Sales

The normal seasonal increase in home sales is evident although not as apparent in the new construction market segment.

Comparing July home sales in 2008 with July home sales of previous years, we observe that more or less normal conditions prevail.

East Baton Rouge Absorption

While, overall, it is a buyer’s market for new construction in East Baton Rouge Parish it is a seller’s market in the lower price ranges. Unfortunately, over one third of the available inventory is prices over $400K but only 18% of the demand is in this price range. The highest velocity of new home sales for the first seven months of 2008 was in the $151K-200K price range where only a 5.1 month supply exists.

In the re-sale market segment a seller’s market exists overall. Only when the price exceeds $350K does a buyer’s market condition exist. As with new construction, the highest velocity of home sales in the re-sale segment was in the $151K-200K range.

East Baton Rouge Home Prices

Home prices in East Baton Rouge Parish continue to rise. In fact, over the previous five-year period home prices have risen by an average of 6-8% per year making home ownership a good investment option.

As always, readers are encouraged to contact me directly for more information or to make suggestions on how this information might be improved.

I welcome readers to visit my websites at www.TheHomeVendor.com or www.LiveAscension.com for real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.

©2008 by Don Stern - all rights reserved

Ascension Parish Real Estate Market Update - July 2008

This report presents a comprehensive view of the real estate market for detached single-family homes in Ascension Parish. Current and historical sales data are examined together with census projections to gain some insight into the future of real estate in this market area.*

Historical and current data were obtained from the Greater Baton Rouge Association of Realtors MLS database. Data were extracted representing sales from January 1, 2003 through July 31, 2008. Only data for Detached Single Family homes were included in the analysis. Manufactured homes and multi-family dwellings are outside the scope of this analysis.

Ascension Parish Unit Sales

Unit sales in the parish picked up in both the new home and re-sale market segments.

Although improved, new construction sales are down substantially from previous years. Re-sale home sales, on the other hand, remain robust and compare favorably to pre-Katrina levels.

Looking only at July sales figures for the past five years, we can see that in July 2008 unit sales for the re-sale market were lower than in post-Katrina years but ahead of pre-Katrina years. New construction unit sales, on the other hand, were slower in July 2008 than in previous years.

Ascension Parish Absorption Rates

In the new home market segment it is a buyer’s market overall, especially for homes priced over $350K. The highest velocity of new home sales was in the $201K-$250K price range. Homes priced between $151K and $300K accounted for 73% of new homes sales in Ascension Parish during the first 7 months of 2008.

In the re-sale market segment, it is a neutral market overall and, in the lower price ranges (below $200K) it is a seller’s market. Once home prices exceed $300K does it clearly become a buyer’s market. The highest velocity of home sales in this market segment was in the $151K-$200K price range. More than half of all previously owned homes sold during the first seven months of the year were priced below $200K.

As always, readers are encouraged to contact me directly for more information or to make suggestions on how this information might be improved.

I welcome readers to visit my websites at www.TheHomeVendor.com or www.LiveAscension.com for real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.

©2008 by Don Stern - all rights reserved

Don Stern | Coldwell Banker Mackey Co. | don@thehomevendor.com | (225) 413-3624 43225 Sycamore Bend Ave, Gonzales, LA Above market amenities… Below market Price! 4BR/3BA Single Family House offered at $259,900 Year Built Unspecified Sq Footage 2,511 Bedrooms 4 Bathrooms 3 full, 0 partial Floors 2 Parking 2 Car garage Lot Size 11,600 sqft HOA/Maint $16 per month DESCRIPTION This property has been updated and is one of the finest in the neighborhood. It has an open floorplan which is perfect for entertaining. Quiet location and a huge back yard. see additional photos below PROPERTY FEATURES Central A/C Central heat Fireplace OTHER SPECIAL FEATURES Large Kitchen ADDITIONAL PHOTOS Seller contact info: Don Stern Coldwell Banker Mackey Co. don@thehomevendor.com (225) 413-3624 For sale by agent/broker Equal Opportunity Housing Posted: Aug 12, 2008, 1:18pm PDT

Livingston Parish Real Estate - Mid-year Market Analysis

Introduction

This report presents a comprehensive view of the real estate market for detached single-family homes in East Baton Rouge Parish. Current and historical sales data are examined together with census projections to gain some insight into the future of real estate in this market area.*

Historical and current data were obtained from the Greater Baton Rouge Association of Realtors MLS database. Data were extracted representing sales from January 1, 2003 through June 30, 2008. Only data for Detached Single Family homes were included in the analysis. Manufactured homes and multi-family dwellings are outside the scope of this analysis.

Livingston Parish Home Prices

Home prices in both market segments continued to exhibit growth although the growth in the resale market was quite modest. New home prices grew by a bit over $10K and now hover just under $200K.

Livingston Parish Home Sales

Unit Sales - Monthly Trends

The overall unit volume for Livingston parish appears to have settled in at pre-Katrina levels. The resale market appears to have increased slightly while the new construction market appears to have fallen off.

Livingston Parish Real Estate Market Absorption

New Construction

The supply of new construction in the parish exceeds the demand in price ranges over $200K creating a buyers’ market in Livingston parish. Under 200K it is a sellers’ market. The highest velocity of new home sales was in the $151K-200K price range, which accounted for 44.5% of the total.

Resale Homes

In our 2007 year end report we reported that overall it was a seller’s market for resale homes in Livingston parish. The market has softened to the point where it is now, overall, a buyer’s market. Only in the lowest price ranges, below $150K, does it remain a seller’s market. Overall absorption rate in 2008 has declined but is still ahead of the pre-Katrina rate. The highest velocity of home sales occurred in the $100K-$150K price range. Only slightly less was the velocity in the $151K-200K price range. It is in this price range that the highest inventory exists. There is a 6.8 month supply. Over $200K there is more than a year’s supply of inventory and in the $400K+ range there is a 2.5-year supply.

Please contact the author directly for information regarding the availability of his in-depth mid-year market analysis for the entire Greater Baton Rouge market area.

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As always, I welcome readers to visit my websites at www.DonAndAlishaStern.com, www.TheHomeVendor.com, www.LiveAscension.com or www.PelicanPointHomes.net for real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.

Contact me via e-mail or call me at (225) 413-3624 for more information.

©2008 by Don Stern - All Rights Reserved

East Baton Rouge Parish Real Estate - Mid-year Market Analysis

Introduction

This report presents a comprehensive view of the real estate market for detached single-family homes in East Baton Rouge Parish. Current and historical sales data are examined together with census projections to gain some insight into the future of real estate in this market area.*

Historical and current data were obtained from the Greater Baton Rouge Association of Realtors MLS database. Data were extracted representing sales from January 1, 2003 through June 30, 2008. Only data for Detached Single Family homes were included in the analysis. Manufactured homes and multi-family dwellings are outside the scope of this analysis.

East Baton Rouge Parish Home Prices

The average price of new homes continued to rise in 2008 growing by nearly 13.5% over average 2007 price for new construction. In the resale market segment there has been no significant change in the average home price between 2007 and 2008. Real Estate remains a quite viable investment in the parish.

East Baton Rouge Parish Home Sales

Unit Sales - Monthly Trends

Unit sales in the parish are soft and we have not yet seen the level of increase that historical seasonality effect would predict. The six-month moving average during 2008 has been the lowest it has been in the five-year period examined. While the resale market remains relatively strong, the market for new construction is off substantially.

East Baton Rouge Parish Real Estate Market Absorption

New Construction

The velocity of new home sales for 2008 was highest in the $151-250K price range where inventory is balanced with demand and there is a 5.7-month supply. A second peak occurred in the over $400K price range. Inventory in this price range, however, is more than double that in other price ranges resulting in a 13.6 month supply.

Resale Homes

Overall it is a seller’s market in East Baton Rouge parish with respect to homes in the resale market segment. A seller’s market exists for homes selling for less than $250K. Inventory is more or less balanced between $251K and $300K. Above this price range, it turns to a buyer’s market.

Please contact the author directly for information regarding the availability of his in-depth mid-year market analysis for the entire Greater Baton Rouge market area.

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As always, I welcome readers to visit my websites at www.DonAndAlishaStern.com, www.TheHomeVendor.com, www.LiveAscension.com or www.PelicanPointHomes.net for real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.Contact me via e-mail or call me at (225) 413-3624 for more information.

©2008 by Don Stern - All Rights Reserved

Ascension Parish Real Estate - Mid-year Market Analysis

Introduction

This report presents a comprehensive view of the real estate market for detached single-family homes in the Ascension Parish. Current and historical sales data are examined together with census projections to gain some insight into the future of real estate in this market area.*

Historical and current data were obtained from the Greater Baton Rouge Association of Realtors MLS database. Data were extracted representing sales from January 1, 2003 through June 30, 2008. Only data for Detached Single Family homes were included in the analysis. Manufactured homes and multi-family dwellings are outside the scope of this analysis.

Ascension Parish Home Prices

The average price of homes continues to trend upward in the Resale category. New home prices have not been significantly different in 2008 from 2007.

Home ownership has been and remains a good investment in the Parish.

Ascension Parish Home Sales

Unit Sales - Monthly Trends

The six-month moving average of new homes continues to trend downward while that of homes in the resale market segment is trending upward. The downward trend in new home sales is significant since historically sales have increased by this time of the year.

The number of newly constructed homes projected to be sold in the parish during 2008 is dramatically lower than in 2007, dropping by over 45%. Unit sales in the resale market segment, however, is expected to remain strong in 2008. Based upon the first six months of sales data, unit sales of resale homes is projected to be only slightly less than in 2007 and well ahead of sales in pre-Katrina years.

Ascension Parish Real Estate Market Absorption

New Construction

At the end of 2007, there existed a 6.5-month supply of new homes in Ascension parish. It is clear from the chart below that the situation has worsened. There is currently a 10-month supply of new homes with excess inventory existing in nearly all price ranges. It is a seller’s market in only the $150K and below price range. Between $151K and $200K it is more or less a neutral market and above $200K it is clearly a buyer’s market. It appears that the inventory in the $300K to $350K range is coming into balance.

Through June, the absorption rate for new construction is less than 31 homes per month. This is the lowest rate of sale in the entire 5-year period examined for this report.

Resale Homes

The resale market in the parish has remained robust during 2008. Only slightly less than 2007 unit sales were ahead of those in the pre-Katrina years. In the lower (below $200K) price ranges it is still a seller’s market. Only when prices exceed $350K does a serious over supply situation exist. While it is a neutral market for the resale segment overall, at 6.5-months supply inventory levels have grown with respect to demand from the 5-month supply reported in our 2007 year-end report.

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As always, I welcome readers to visit my websites at www.DonAndAlishaStern.com, www.TheHomeVendor.com, www.LiveAscension.com or www.PelicanPointHomes.net for real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.Contact me via e-mail or call me at (225) 413-3624 for more information.

©2008 by Don Stern - All Rights Reserved