Ascension Parish Real Estate – Residential Market Analysis April 2010

Ascension Parish Real Estate Market Report

The data used in this report were extracted from the Greater Baton Rouge Association of Realtors MLS database and represent sales of detached single family homes from January 2005 through April 2010. The data are presumed accurate but are not warranted.

Unit sales in the parish were down a bit in April from unit sales in March. Both new construction and re-sale market segments were down. On the other hand, unit sales in April 2010 was higher in both segments than in April of 2009.

Ascension Real Estate

New construction unit sales in the period from January through April 2010 was higher than the same periods during 2008 and 2009. The re-sale segment for the January through April 2010 was higher than in 2009 but lower than in the years 2005 through 2008.

Ascension Real Estate

Overall $ sales volume was up. While volumes in 2006 and 2007 were higher, 2010 volumes were higher than in 2005, 2008 and 2009.

Ascension Real Estate

The average sales price of new construction continued to fall in the parish but the average sales price of previously owned homes during the first four months of the year was substantially higher than in any of the previous five years.

Ascension Real Estate

The average selling price per square foot of living area for new homes declined slightly as the trend toward smaller homes with fewer amenities continued. The price per square foot of living area for homes in the re-sale market segment increased slightly.

Ascension Real Estate

The last chart shows the history of $/sq.ft. between January 2005 and April 2010. One can see that in April 2010 there was virtually no difference between the new construction and re-sale segments. The last time that occured was in November of 2005 after which the selling price per square foot of living area for new construction rose substantially. It remains to be seen whether this event in April is significant.

Ascension Real Estate

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



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