Category Archives: Tri-Parish Market

Tri-Parish 2010 Mid-year Home Sales by MLS Area

Tri-Parish Real Estate Market Report

The geography covered by the Greater Baton Rouge Association of Realtors has been segmented into numbered areas. These areas are depicted on the following map.

Greater Baton Rouge Home Sales 2010 mid-year

An analysis of detached single family sales during 2010 was done in the tri-parish region (Ascension, East Baton Rouge, and Livingston) and broken down by MLS area. The next chart provides the results of that analysis.

Greater Baton Rouge Home Sales 2010 mid-year

The chart illustrates that the highest dollar volumes were achieved in northern Ascension parish and in southern East Baton Rouge parish. Unit sales followed similar patterns except that the Livingston parish areas of 81 and 83 exhibited relatively high unit sales. Another statistic is worth noting… homes in area 61 had the highest median sales price of any of the MLS areas.

A similar analysis was done but included only new construction. That chart is below.

Greater Baton Rouge Home Sales 2010 mid-year

We can see that area 90 in Ascension parish far exceeded any other area in terms of both unit and dollar volume. Area 83 in Livingston parish came in second.

As always, I appreciate hearing from readers and I welcome any comments or suggestions for improvement that you may offer.


–Information on this report is not guaranteed. There is no express or implied warranty by MLS of the accuracy of information which should be independently verified.–
Copyright: 2010 by the Greater Baton Rouge Association of REALTORS® Multiple Listing Service
Prepared by STERN, DON of Coldwell Banker Mackey Ascn on Saturday, July 10, 2010 12:57 PM.

©2010 by Don Stern – All Rights Reserved

(225)413-3634 phone (866)723-5477 fax

don@thehomevendor.com – email1312

www.TheHomeVendor.com www.DonAndAlishaStern.com

www.LiveAscension.com www.PelicanPointHomes.com

www.WaterfrontPropertyLA.com

Baton Rouge Metro Area Real Estate Statistics

Baton Rouge Metro Area Real Estate Market Report

With seventy five percent of 2009 in the past, I took a snapshot of sales for detached single family homes in the nine parish Greater Baton Rouge Metro area. In addition to segmenting the data by parish, I also separated new construction from re-sale or previously owned homes. The data were extracted from the Greater Baton Rouge Association of Realtors MLS database. The data are presumed accurate but are not warranted.

The next three charts show unit sales, average selling price and average selling price/sq.ft. for new construction in each of the nine parishes for each year since 2004. Unit sales in 2009 are projected by assuming the same absorption rates for the remainder of 2009.

New Construction

Baton Rouge Metro Area

In terms of unit sales we can see that in 2009 new construction is up significantly in Ascension parish, up a little in Livingston and West Baton Rouge parishes, and down or zero in all remaining parishes.

Baton Rouge Metro Area

In general, we can see a drop in the average selling price of newly constructed homes.

Baton Rouge Metro Area

The average selling price/sq.ft. in Ascension has been significantly lower in 2009 when compared to 2008. This reflects a shift toward more affordable new construction in Ascension. In East Baton Rouge and Livingston parishes, where there were significant levels of new construction sales, the selling price/sq.ft. was maintained at similar levels. In West Baton Rouge Parish, the average selling price/sq.ft. actually increased.

Previously Owned Homes

The next three charts show unit sales, average selling price and average selling price/sq.ft. for previously owned homes.

Baton Rouge Metro Area

Unit sales for this market segment have remained relatively steady in 2009 as compared to 2008.

Baton Rouge Metro Area

If one looks at both the average price and average price/sq.ft. charts for re-sale homes, we can see that, in general, home values are holding. While our 401Ks may have suffered, the equity we have in our homes may not have appreciated but neither have they lost much, if any, value.

Baton Rouge Metro Area

As always, I appreciate hearing from readers and I welcome any comments or suggestions for improvement that you may offer.




©2009 by Don Stern – All Rights Reserved

(225)413-3634 phone (225)313-3698 fax

don@thehomevendor.com – email1312

www.TheHomeVendor.com www.DonAndAlishaStern.com
www.LiveAscension.com www.PelicanPointHomes.com

www.WaterfrontPropertyLA.com

Greater Baton Rouge Area Foreclosure Listings

Greater Baton Rouge Foreclosures Analysis

1/1/2004 through 8/23/2009

Recently, there have been a number of articles in the media about the rising number of foreclosures. Indeed, three of the real estate transactions
that I am currently working myself are for bank owned properties. Unlike some other areas of the country, the Greater Baton Rouge real
estate market has not seen a dramatic drop in home prices which is common for areas with an increasing number of bank foreclosures.
I was thinking about this apparent contradiction on the way home from church this morning and decided to do some analysis.

I extracted a subset of data from the Greater Baton Rouge Association of Realtors MLS system. That subset included Residential properties (homes) which were
identified as REO (Real Estate Owned or Bank Owned) properties which were listed between January 1, 2004 and August 23, 2009. In my opinion,
some interesting things came out of my analysis. I created two charts both shown below. The first shows the number of bank foreclosures listed
in the MLS over the time period examined.

In the period between 1/1/2004 and 5/31/2005, an average of about 116 bank owned properties were listed each month. Since 6/1/2005 that average dropped
to 68 homes per month. Other observations are that in May of 2005 the number of bank owned listings spiked to 216. In the months after Hurricane
Katrina the number of foreclosed homes listed dropped substantially. I would hypothesize that, after Katrina, the demand for housing was so
high that people were able to sell their homes prior to being foreclosed upon. The rate of bank owned listings being added to the system
has remained lower than that observed prior to June 2005.

Greater Baton Rouge Foreclosure History

The second chart examines the same data set but further restricts it to just those REO properties in the Tri-Parish Area (Ascension,
East Baton Rouge, and Livingston Parishes.)

It appears to this author like all three parishes follow the same overall trends. Ascension and Livingston see foreclosure listings added at
about the same rate. The anomalous spike in May 2005 was less pronounced in Ascension than in either Livingston or East Baton Rouge Parishes.

Tri-Parish Foreclosure History

In conclusion, I would venture the opinion that foreclosures have not had the impact upon home prices in our area that other areas of our
country have seen. Furthermore, since the rate of foreclosed listings remains low, I would not expect additional downward pressure on prices
directly due to foreclosures. I do believe that downward pressure in our area is do more to the indirect effect that national foreclosures have
had upon the availability of credit.

I would be very interested to hear different interpretations of these observations and would welcome comments.



©2009 by Don Stern – All Rights Reserved

(225)413-3634 phone (225)313-3698 fax

don@thehomevendor.com – email1312

www.TheHomeVendor.com www.DonAndAlishaStern.com
www.LiveAscension.com www.PelicanPointHomes.com

www.WaterfrontPropertyLA.com

Tri-parish New Construction Market Analysis

Tri-Parish New Construction Real Estate Market Report

Through July 2009

This post deals with new construction in the tri-parish (Ascension, East Baton Rouge, and Livingston) area. The data used for this
report were extracted from the Greater Baton Rouge Association of Realtors MLS database. Only data relating to detached single family (DSF) homes
were extracted. For sales data new construction data were identified as those records having a status of New, Under Construction or
Proposed Construction
. Current inventory for new construction included only those records having a status of New or Under Construction.

Looking at the next three charts we can see the average selling price per square foot of living area for each of the three parishes. In 2009,
new construction in Ascension parish sold for an average of $114.87/sq.ft. which is down 4.6% from 2008 where the price per square foot peaked
at $120.37/sq.ft. In East Baton Rouge parish new construction sold for $130.25/sq.ft. in 2009 which is up $1.05 from sales in 2008. Livingston
parish saw a modest decline in the price of new construction of $0.48/sq.ft. from a high of $105.05/sq.ft. in 2008 to $104.57/sq.ft. in 2009. A
statistically negligible decline.

Ascension Parish New Construction Pricing
Ascension Parish New Construction Pricing

East Baton Rouge Parish New Construction Pricing>
East Baton Rouge Parish New Construction Pricing

Livingston Parish New Construction Pricing>
Livingston Parish New Construction Pricing

The next three charts show the new construction breakdown in each of the three parishes by subdivision.

Ascension Parish Top Selling Subdivisions

Ascension Parish Top Subdivisions

East Baton Rouge Parish Top Selling Subdivisions

East Baton Rouge Parish Top Subdivisions

Livingston Parish Top Selling Subdivisions

Livingston Parish Top Subdivisions

Looking at these three charts we can see that, while the type of home sold in the parish has shifted toward one costing less per square foot, Ascension
Parish was home to three of the top five selling subdivisions in terms of unit sales. The top five subdivisions were as follows:

Parish Subdivision 2009 Unit Sales
Ascension Pecan Ridge 34
East Baton Rogue Lakes at Jamestown 33
Ascension Keystone of Galvez 26
Ascension Gateway Cove 21
Livingston Lake at Grays Creek 21

Anyone wishing to discuss this analysis in more detail or to request additional analyses are encouraged to contact me. Additionally, I welcome any
comments or suggestions for improvement.



©2009 by Don Stern – All Rights Reserved

(225)413-3634 phone (225)313-3698 fax

don@thehomevendor.com – email1312

www.TheHomeVendor.com www.DonAndAlishaStern.com
www.LiveAscension.com www.PelicanPointHomes.com

www.WaterfrontPropertyLA.com

East Baton Rouge Parish Residential Real Estate Market Report for Year Ending 2008



East Baton Rouge Parish Residential Real Estate Market Report

My last blog entry dealt with the state of the real estate market in Livingston Parish as of the end of 2008. This post deals
with the state of the market in East Baton Rouge Parish.

The information presented in this post is based upon data extracted from the Greater Baton Rouge Association of Realtors MLS database.
For the purposes of my analysis, I included data for detached single family dwellings which sold in East Baton Rouge parish for the years 2003 through
2008. I identified the home sales as either New Construction or Re-Sale because, in my experience, they have distinct characteristics.

The following chart provides some general statistics.

Baton Rouge Real Estate Statistics

The previous chart illustrates the vast difference in both the median and average home prices between new construction and existing home sales. It is also
interesting to note that both the least expensive and the most expensive home sold were in the re-sale market segment.

The average selling price of new construction continued to climb in the parish, rising about 10% between 2007 and 2008. The average selling price
of an existing home, on the other hand, remained about the same. The good news is that prices haven’t fallen as in other areas of the country.

Baton Rouge Real Estate Pricing

Unit sales, however, fell in both market segments and continues to trend downward. While new construction sales were off for most of the year, sales of
pre-existing homes didn’t suffer until both the meltdown of the financial market and the impact of Hurricane Gustav. With low interest rates, the
first time home-buyers incentive and the general good health of the area I anticipate improvements in this market segment.

Baton Rouge Real Estate Sales

The highest velocity of new home sales occured for homes selling between $150K and $300K and in this range a seller’s market exists. Overall,
however, it is a buyers market with 7.3 months supply. This is due in large measure to the oversupply of homes priced over $400K. In this category there is
more than a year’s supply of homes at the 2008 average absorption rate.

Baton Rouge Real Estate New Construction Absorption

For pre-existing homes, it is either a sellers or neutral market until home prices exceed $350K where there is more inventory than demand and it is a buyer’s market.

Baton Rouge Real Estate Existing Home Absorption

I’ve authored a report which examines the residential real estate market for the Greater Baton Rouge metro area in much greater detail than has been
presented here. Click Here to view the table of contents for this report.



©2009 by Don Stern – All Rights Reserved
(225)413-3634 phone (225)313-3698 fax
don@thehomevendor.com – email1312
www.TheHomeVendor.com www.DonAndAlishaStern.com
www.LiveAscension.com www.PelicanPointHomes.com


Livingston Parish Residential Real Estate Market Report




Livingston Parish Residential Real Estate Market – 2008 Year End Report

My last blog entry dealt with the state of the real estate market in Ascension Parish as of the end of 2008. This post deals
with the state of the market in Livingston Parish.

The information presented in this post is based upon data extracted from the Greater Baton Rouge Association of Realtors MLS database.
For the purposes of my analysis, I included data for detached single family dwellings which sold in Livingston parish for the years 2003 through
2008. I identified the home sales as either New Construction or Re-Sale because, in my experience, they have distinct characteristics.

The following chart provides some general statistics.

Livingston Parish Real Estate Statistics 2008

An interesting contradiction appears in this chart. Both the median selling price and the median selling price per square foot of living area
are higher for re-sale homes than for new construction but the averages of both these statistics are reversed… new construction stats are
higher than existing home statistics which we are accustomed to seeing. I believe that affordability and pricing has had a
major impact upon new construction sales. I’ll look at this again later in this post when absorption rates and inventory levels are discussed.

Livingston Parish Real Estate Average Prices

Overall unit sales have been declining in Livingston Parish since the summer of 2007. While existing home sales peaked during the summer
of 2008, the seasonality effect didn’t impact upon new home sales where sales remained flat during the summer and then continued to decline afterward.
The re-sale market remained at healthy pre-Katrina levels in terms of unit sales.

Livingston Parish Real Estate Unit Sales

If one looks at absorption rates and inventory levels (shown in the next two charts), we can see that overall it is a neutral market for both new construction
and re-sale market segments. If one looks deeper, however, it becomes apparent that price elasticity is a factor. Most home sales
in both market segments were for homes priced under $200K. As prices increase above that it rapidly becomes a buyer’s market and the velocity
of home sales diminishes rapidly.

I’ve authored a report which examines the residential real estate market for the Greater Baton Rouge metro area in much greater detail than has been
presented here. Click Here to view the table of contents for this report.



©2009 by Don Stern – All Rights Reserved
(225)413-3634 phone (225)313-3698 fax
don@thehomevendor.com – email1312
www.TheHomeVendor.com www.DonAndAlishaStern.com
www.LiveAscension.com www.PelicanPointHomes.com



East Baton Rouge Parish February 2008 Market Update

East Baton Rouge Parish Real Estate Market Report

February Update

This update examines data extracted from the Greater Baton Rouge Association of Realtors MLS database. The data were extracted a of 3/7/08 and represent closed sales and active inventory of detached single family dwellings.

Unit sales are up overall as well as in both the new and re-sale market segments although unit sales of homes in the re-sale segment are at or near historic lows for the five-year period examined.

Similarly, dollar volumes are also up in both segments.

Looking at February sales since 2003 we can see that unit sales are significantly lower for homes in the re-sale market segment while unit sales of new homes are more or less at pre-Katrina levels and very slightly ahead of 2007. The slide in the re-sale market will be monitored closely to see if this is just a single point anomaly or an indicator of some other market dynamic.

Prices in the new home market segment continue to show growth. The average price of a home in 2008 has been 5.8% higher than in 2007. On the other hand, the average price of a home in the re-sale segment have declined by more than $11K from the high of $198,767 in 2007. Again, the softness of this market segment bears close attention in the coming months.

Inventories are remaining fairly flat. For the new home segment, it is a buyer’s market with 9.4 months of inventory but overall it is still a neutral market in the parish with 6.4 months supply of inventory.


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-mail1312 or call me at (225) 413-3624 for more information.

©2008 by Don Stern – All Rights Reserved

Ascension Parish Real Estate: January 2008 Market Update

Ascension Parish Real Estate Market Analysis

January 2008 Update

This interim report supplements my 2007 Year-end Residential Real Estate Report . The report examines data extracted from the Greater Baton Rouge Association of Realtors database for detached single family residences in Ascension Parish.

The chart below show unit sales in January of 2008 compared with the month of January in 2003 through 2007. We can see that in the re-sale market space, home sales were below the Katrina bump but were above January sales in the pre-Katrina years. It was a very different story for new construction, however. New construction unit sales were lower in January of 2008 than in any of the previous five years!

While the previous chart shows that new home unit sales are down, the chart below shows that the average sales price has increased for both new construction and for homes in the re-sale market space.

Looking at the entire 5 year history of unit sales for new construction we can see that a big drop in unit sales was recorded in January 2008. In fact, January sales were below any point in the five year history shown.

In the re-sale market space we see that a slight up tick in unit sales was recorded for January 2008. The 6-month moving average was above pre-Katrina levels.

Dollar sales of new construction are also down sharply.

Dollar sales of re-sale homes remained higher than pre-Katrina levels.

We also looked at inventory levels over the past several months for new construction in various price ranges. It appears that inventory levels of homes in the $150K-199K price range are trending upward.


As always, I welcome readers to visit my websites at www.DonAndAlishaStern.com, www.TheHomeVendor.com, www.LiveAscension.com or www.PelicanPointHomes.netfor 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-mail1312 or call me at (225) 413-3624 for more information.

©2008 by Don Stern – All Rights Reserved

Livingston Parish Market Update: January 2008

Livingston Parish Real Estate Market Analysis

January 2008 Update

This interim report supplements my 2007 Year-end Residential Real Estate Report. This update examines data extracted from the Greater Baton Rouge Association of Realtors database for detached single family residences in Livingston Parish.

The first chart looks at unit sales for the parish in January of each of the years between 2003 and 2008. New construction unit sales for January 2008 was typical for January excluding January of 2006, immediately following Hurricane Katrina. Sales of homes in the re-sale market segment, however were the 2nd highest of any year of the past five… a sign of the strength of the market.

Livingston Home Sales

January 2008, saw a slight decline in average home prices in both market segments.

Livingston Home Sales

Thus far, unit sales are consistent with historical seasonality changes in both the new construction and re-sale market segments

Livingston Home Sales

Examining the 6-month moving averages for average sales price within the two market segments, it appears that there has been a larger than normal drop in average sales price than historical seasonality might suggest.

Livingston Home Sales

As in both Ascension and East Baton Rouge parishes, inventory levels for both market segments are pretty flat.

Livingston Home Inventory Levels

If you have any questions, comments or suggestions on how to improve my market reports, please don’t hesitate to contact me directly.


As always, I welcome readers to visit my websites at www.DonAndAlishaStern.com, www.TheHomeVendor.com, www.LiveAscension.com or www.PelicanPointHomes.netfor 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-mail1312 or call me at (225) 413-3624 for more information.

©2008 by Don Stern – All Rights Reserved

Baton Rouge, LA: Tr-Parish Inventory Levels Holding

The inventories of homes in the new and resale market segments are showing no substantial change in the Tri-parish area of the Greater Baton Rouge residential real estate market. The fact that inventory levels are not growing portends well for the area real estate market with additional homes coming onto the market about as fast as others are being sold.

The following charts illustrate those inventory levels for the Tri-Parish (Ascension, East Baton Rouge and Livingston) area. The first chart is for new construction while the second is for homes in the resale market.

Tri-Parish new construction inventory levels

Tri-parish Inventory levels resale market

This provides further confirmation that the overall market in the Tri-parish area is balanced. My 2007 year-end report show that monthly absorption rates were as shown in the following table.

Market Segment
Parish

New Construction

Resale Homes

Overall

Ascension 6.4 5.0 5.6
East Baton Rouge 6.9 4.1 4.5
Livingston 7.0 5.0 5.7

While the absorption rates for new construction in East Baton Rouge and Livingston parishes has ventured slightly into Buyers Market territory (over 6.5 months supply) it remains a Sellers Market (under 5.5 months supply) for homes in the resale market segment.

Click here for more information about the comprehensive 2007 Year-End Residential Greater Baton Rouge Area Real Estate Market Report.

The information presented herein was based upon the analysis of data obtained from the Greater Baton Rouge Association of Realtors MLS system for residential detached single family listings.

Don Stern

www.DonAndAlishaStern.com
(225) 413-3624