Tag Archives: Baton Rouge Homes

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

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

East Baton Rouge Parish Residential Real Estate Market – 2009 Mid-year Report

East Baton Rouge Parish Real Estate Market

2009 Mid-year Report

This mid-year report is the result of my analysis of data retrieved from the Greater Baton Rouge Association of Realtors MLS
database. Only data relating to detached single family (DSF) homes were included. None of the townhome sales were included in this
analysis as they represent a different product. As I have done in the past, I made a distinction between new construction and previously owned (re-sale) homes.

Seasonality continues to impact unit sales in the parish as we observe an overall increase in unit sales for June.
The increase, however, is due to an increase in the sales of previously owned homes. New construction sales actually declined from thirty
nine sales in May to thirty six sales in June.

Ascension Real Estate

Overall unit sales in both market segments are projected to be at five year lows. The following chart illustrates this observation.

Ascension Real Estate

The next chart illustrates a significant decline in the average selling price of a new home in the parish.
The average selling price per square foot of living area for a new home remained stable which means that the drop in home prices is
attributable to the fact that in 2009 smaller homes have been purchased. Prices of previously
owned homes have remained relatively flat between 2008 and 2009.

Ascension Real Estate

Overall, there is a 5.6 month supply of new construction in the parish that conventional wisdom terms a neutral market (5.5-6.5 months
supply.) Looking at different price ranges, as in the following chart, we see that a seller’s market (<5.5 month supply) exists in many price ranges.
For homes priced over $400K, on the other hand, a severe buyer's market (>6.5 month supply) exists with over 13 months of inventory
on hand.

Ascension Real Estate

In the re-sale market segment there is, similarly, a 5.6 month supply as well. As with new construction, however, the data suggests
something very different depending upon the price range. For homes priced below $200K a seller’s market exists but for homes priced
over $400K there is over 18 months worth of inventory.

Ascension Real Estate

Comments and suggestions are encouraged. Readers wishing to have a more in-depth discussion welcome to contact me directly.



©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