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