Category Archives: East Baton Rouge Parish

Kenilworth Subdivision Market Report

East Baton Rouge Parish Real Estate Market Report – Kenilworth Subdivision

The data used in this report were extracted from the Greater Baton Rouge Association of Realtors MLS database on August 18, 2010. The data are presumed accurate but are not warranted.

I have been working with some clients who are considering moving from the Kenilworth subdivision to a more rural area. I extracted historical sales data as well as data for currently active listings to give them some idea of what their current home might ultimately sell for and how the competition in their subdivision is currently priced. The following chart looks at the history of the selling price per square foot of living area over time and how current listings are priced.

Baton Rouge Real Estate Market

We can see that recent sales have varied more than $40/sq.ft. from a bit less than $80/sq.ft. to a bit more than $120/sq.ft. There are currently four active listings in the subdivision. Three of the listings are priced between $103.75/sq.ft. and $109.76/sq.ft. and one is price at $88.88/sq.ft. Further investigation revealed that this home is part of an estate and there were no inside photos so one might suspect the condition of the interior.

The next chart shows that the average selling price in 2010 was $98.51/sq.ft., a drop of about 2% from the average selling price in 2009 and a drop of nearly 4% from the peak average of $102.46/sq.ft. achieved in 2007.

Baton Rouge Real Estate Market

The next chart show average selling prices in the subdivision and we observe a large increase from 2009 to 2010. Given that the $/sq.ft. declined, one can conclude that, on average, larger homes have sold in 2010 than sold in 2009.

Baton Rouge Real Estate Market

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



©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

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East Baton Rouge Parish Residential Real Estate Market Report – July 2010 Update

East Baton Rouge Parish Real Estate Market Report

The data used in this report were extracted from the Greater Baton Rouge Association of Realtors MLS database. Only data for detached single family (DSF) homes were used and represent sales through the end of July 2010. The data are presumed accurate but are not warranted.

The following two charts show unit sales (closings) for a given month separated by year. The first chart represents unit sales for new construction and the second represents unit sales of previously owned homes.

Baton Rouge Real Estate

Except for the month of May, unit sales of new construction in EBR parish was lower than in any of the previous five years. In the re-sale market segment the same held true except that April 2010 was slightly ahead of April 2009.

Baton Rouge Real Estate

The next chart illustrates the downward trend in home sales within the parish since 2006.

Baton Rouge Real Estate

Despite this softening in terms of unit sales, home values have been preserved as the next chart illustrates.

Baton Rouge Real Estate

We can see that the average price per square foot of living area has not dropped. In fact, it is higher than in any of the previous five years.

The next two charts show the absorption rates for new construction and previously owned homes for the years between 2005 and 2010 broken down by the price range of homes.

Baton Rouge Real Estate

We can see that, overall, there is a neutral market for new homes with a 6.5 month supply. During 2010, the highest velocity of home sales in the new home segment has been for homes priced between $200K and $300K. This price range has accounted for more than 50% of all new homes sold in the parish this year and in this range it is clearly a seller’s market. On the other hand, there is nearly a 2-year supply of new homes priced between $350K and $400K.

Baton Rouge Real Estate

In the re-sale market segment, it is a buyer’s market overall. It is a neutral market only for homes priced below $100K. The highest velocity of home sales occurs in this segment for homes priced between $100K and $200K.

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



©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

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

Zachary, LA Real Estate Market Report – 1Q2010

Zachary Real Estate Market Report

The data used in this report were extracted from the Greater Baton Rouge Association of Realtors MLS database. The data are presumed accurate but are not warranted.

The data used represent sales of detached single family homes in Zachary, LA.

Unit sales of new construction in March dropped for the third consecutive month. The re-sale market segment, however, enjoyed an enormous increase in unit sales during March. A total of 17 previously owned homes sold in March and only 12 sold during January and February combined.

Zachary Home Sales

Most of the re-sales during March were in the $251K-$300K range although there were sales ranging from $53K to $520K. For the first quarter of 2010, the highest velocity of home sales in the new construction segment was in the $201K to $250K range. In the re-sale market segment the highest velocity of home sales was in the $251K-$300K range. At first quarter absorption rates there is an oversupply of homes. The new construction segment has a 7.5 month supply while the re-sale segment has a 10.6 month supply.

Zachary Home Sales

The average price per square foot of living area is, on average, higher for the first quarter of 2010 than the annual average for 2009. The re-sale segment, on the other hand, has seen a drop of about 6% during the first quarter from $109.37/sq.ft. to 102.88/sq.ft.

Zachary Home Sales

Looking at monthly trends, it appears that $/sq.ft. is trending upward for new construction, although we do observe a drop in the average for two consecutive months. If the absorption rate of new construction continues to drop off that will put downward pressure on pricing. In the re-sale segment, pricing weakness is observed. This is probably due to an oversupply of homes.

Zachary Home Sales

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



©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

East Baton Rouge Parish Residential Real Estate Market – 2010 1st Quarter Report

East Baton Rouge Parish Real Estate Market Report – 1Q2010

The data used in this report were extracted from the Greater Baton Rouge Association of Realtors MLS database. The data are presumed accurate but are not warranted.

The data presented herein represent sales of detached single family homes in East Baton Rouge parish.

2010 first quarter unit sales were disappointing and are lower than in any of the first quarter results for the previous five years.

Baton Rouge Home Sales

When projected through to the end of the year, without substantial increases during the peak selling months we can see that both new construction and re-sale market segments will fall far short even when compared to 2009 which, itself, was disappointing.

Baton Rouge Home Sales

The good news, however, is that home values have remained stable. The next chart shows that the average selling price per square foot of living area in the parish has remained relatively flat for the past few years. Homeowner equity has been preserved.

Baton Rouge Home Sales

If we look at average selling prices, we can see that the average price of a new home has declined. Given a steady price per square foot that indicates that new home buyers are purchasing smaller homes. The average price of a re-sale home, on the other hand, is currently higher than in any of the previous five years.

Baton Rouge Home Sales

Finally, if we look at inventory levels with respect to absorption rates in various price ranges we can see that a Seller’s Market exists for new construction priced between $200K and $300K in EBR parish. The highest velocity of new home sales during the first quarter of the year has been in the $251K-300K range with 7.3 homes per month being sold. As has been the case for some time, a severe oversupply of homes priced over $400K exists in both the new construction and previously owned market segments. With absorption rates of 2.3 and 13.7 homes per month, however, we can see that there still is a significant demand for high-end homes but not enough of a demand to balance with the supply.

Baton Rouge Home Sales

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



©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

East Baton Rouge Parish Residential Real Estate Market Report – February 2010 Update

East Baton Rouge Parish Real Estate Market Report

The data used in this report were extracted from the Greater Baton Rouge Association of Realtors MLS database. The data are presumed accurate but are not warranted.

As the following chart illustrates, unit sales are down significantly in the parish. New construction is down by more than 41% for the first two months of 2010 as compared with the same period in 2009. In the resale market segment unit sales are down by almost 17%.

Ascension Parish Real Estate Market Info

The good news for homeowners, on the other hand, is that the average selling price per square foot of living area has remained essentially the same thereby preserving home values.

Ascension Parish Real Estate Market Info

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



©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

East Baton Rouge Parish Residential Real Estate Market Report – September 2009 Update

East Baton Rouge Parish Real Estate Market Report

The data used in this report were extracted from the Greater Baton Rouge Association of Realtors MLS database. The data are presumed accurate but are not warranted.

Sales of homes in the new construction and re-sale market segments are down a bit from the previous month but that is probably just the effect of seasonality that we historically observe.

Baton Rouge Real Estate - Monthly Unit Sales

Unit sales of homes in both market segments are expected to be lower in 2009 than in any of the previous five years.

Baton Rouge Real Estate - Annual Unit Sales

The average selling price is down slightly in both market segments but that is due to a shift toward more affordable homes.

Baton Rouge Real Estate - Average Price

We can see that the average price per square foot of living area is up slightly in both market segments indicating that home values have not diminished and owner equity has remained relatively constant.

Baton Rouge Real Estate - Selling $/sq.ft.

The next two charts examine absorption rates for new construction and for the re-sale market segments. We can see that overall, new construction has a 5.4 month supply of inventory given the year to date average absorption rate. The re-sale market segment has a 5.5 month supply. Segmenting this information further by price range, we can see that with respect to new construction, it is a seller’s market for all price ranges below $350K. (Below $100K a 54 month supply shows. This I believe, is anomolous because homes in this price range just came onto the market and weren’t available for most of the year leading to the low absorption rate of 0.1 homes/month.) The supply of homes priced over $350K exceeds the demand. In these price ranges there is about a years supply. While there is over 10-months supply of new homes priced over $400K, at 6 homes sold per month more than 15% of homes sold in the parish are in this price range.

Baton Rouge Real Estate - New Construction Absorption

In the re-sale market segment, nearly 80% of all homes sold in the parish are priced below $250K. The highest velocity of home sales is for homes priced between $151K and $200K. Over 17-months supply exists for homes priced over $400K.

Baton Rouge Real Estate - Resale Absorption

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 (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