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

Livingston Parish Residential Real Estate Market Report – 1Q2010

Livingston 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 Livingston parish.

In previous blog posts, I shared how unit sales in Ascension parish were up in both new construction and re-sale market segments and that in EBR parish both segments were down in terms of unit sales. In Livingston parish, first quarter results for 2010 show an increase of more than 16% in unit sales in the new construction segment while the re-sale market segment dropped by almost 9%.

Baton Rouge Home Sales

Average home prices in both market segments also dropped.

Baton Rouge Home Sales

Looking at the average selling price per square foot of living area, it appears that the drop in new construction prices is due primarily to buyers purchasing smaller homes as the price per square foot has not changed appreciably. The drop in average re-sale home price, however, does seem to be related to a drop in the average $/sq.ft. price.

Baton Rouge Home Sales

We’ll continue to monitor the market trends and report back to readers.

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

Pelican Point Real Estate Market Analysis – 2010 First Quarter Report

Pelican Point Real Estate Market Report – First Quarter 2010

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 average selling price in Pelican Point in the re-sale market segment saw a substantial increase during the first quarter of 2010. Only a single newly built home sold during the first quarter so no conclusions can be drawn vis a vis any trend in the new construction market segment.

Pelican Point Home Sales


The following chart shows the distribution of the selling price per square foot of living area since January of 2004. There has, perhaps, been a minor decline after it peaked in the years immediately following hurricane Katrina but has more or less been holding steady.

Pelican Point Home Sales


New construction sales have fallen way off. As indicated earlier, a single newly constructed home has sold so far in 2010. The resale market segment, however, has shown tremendous growth as the next chart indicates.

Pelican Point Home Sales


The next chart illustrates that, for the first quarter of 2010, the absorption rate for previously owned homes in Pelican Point has rebounded to a level not seen since hurricane Katrina.

Pelican Point Home Sales


That’s the good news… The bad news is that there are still more homes for sale than can be absorbed even at the higher absorption rates. More than a third of existing inventory is in the over $400K price range. At an absorption rate of only 0.7 homes per month, there is a sixteen and a half month supply placing this price range clearly in the Buyer’s Market category.

Pelican Point Home Sales


The next chart shows the average selling price per square foot of living area for previously owned homes separated by the street. As 2010 wears on, these numbers will become more meaningful. A total of eleven homes sold during the first quarter which is insufficient to draw any street level conclusions for 2010 at this time.

Pelican Point 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

Ascension Parish Real Estate – Residential Market Analysis 1st Quarter 2010

Ascension Parish Real Estate Market Report 2010Q1

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 and represent detached single family home sales.

Unit of detached single family homes in Ascension parish were up about 24% in March of 2010 when compared to sales in March of 2009. Both the new construction and the re-sale market segments showed growth.

Ascension Home Sales

First quarter sales, likewise, show growth in 2010 when compared with 2009. In the re-sale market segment first quarter unit sales in 2010 are similar to those of 2007 and 2008.

Ascension Home Sales

The average selling price per square foot of living area is down marginally in both market segments for 2010 as the next chart demonstrates.

Ascension Home Sales

The following chart indicates that the decline may have bottomed out. In fact, there are some indications of improvement but it is too early to say for sure. We’ll continue to monitor this closely.

Ascension 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

Livingston Parish Residential Real Estate Market Report – February 2010

Livingston 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.

Despite the fact that unit sales of new homes were up 25% in the first two months of 2010 as compared with the same period in 2009, overall unit sales were down due to a 14.3% drop in unit sales of pre-owned homes. The next chart illustrates this. Unit sales in 2010 are very similar to what they were during the first two months of 2005.

Livingston Parish Home Sales

In terms of pricing, new construction has remained approximately the same for the Jan-Feb period during the past three years. In the resale market segment, pricing has dropped about 1% from 2009 levels but is down more than 10% from the peak of nearly $100/sq.ft. which occured in 2008. The next chart illustrates this.

Livingston Parish 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

Ascension Parish Real Estate – Residential Market Analysis February 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. The data are presumed accurate but are not warranted.

Overall unit sales for the first two months of 2010 are up when compared with the first two months of 2009. New construction is down by a single unit while resale homes are up by four units as the following chart illustrates.

Ascension Parish Real Estate Market Info

The price per square foot of living area has declined once again for new construction indicating that the shift toward more affordable homes with fewer amenities continues. The average selling price/sq.ft. of previously owned homes has declined by nearly 2% as well.

Ascension Parish Real Estate Market Info

The next chart shows the top selling subdivisions for new construction in Ascension parish. It clearly demonstrates that new home buyers are opting for smaller homes with fewer amenities which result in a lower price/sq.ft. Of particular interest in this chart are the pending sales numbers. With 25 and 17 pending sales respectively, Jamestowne Court and Keystone of Galvez subdivisions are clearly outpacing other subdivisions.

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

Pelican Point Real Estate Market Analysis – 2009 Year-end Report

Pelican Point Real Estate Market Report

This report summarizes and compares the Pelican Point housing market in 2009 and compares it with previous years. In terms of unit sales, approximately the same number of homes sold in 2009 as did in 2008. While down slightly from 2008, the re-sale market segment remains ahead of pre-Katrina levels. New construction, on the other hand, is way down from years preceding 2008.

Pelican Point Unit Home Sales

Looking at absorption rates, it is definitely a buyer’s market in the subdivision. There are significantly more homes for sale than demand supports. Home buyers are likely to find bargains while home sellers should set themselves apart from the competition.

Pelican Point Real Estate Absorption Rates

Since Pelican Point is comprised of a number of different filings, each with it own unique characteristics, when examining pricing it is useful to look at individual street addresses. The following chart examines pricing in the resale market segment in terms of the price per square foot of living area. We can see that there has been a softening of prices in many areas. This is, in my opinion, due to the buyer’s market condition that exists. In general, prices in Ascension parish as a whole have held for the resale market.

Pelican Point Home Pricing

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 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

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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