Tag Archives: Baton Rouge Real Estate

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

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

East Baton Rouge Parish Residential Real Estate Market Analysis – May 2009

The information presented in this post is based upon data extracted from the Greater Baton Rouge Association of Realtors MLS database.
For the purposes of my analysis, I included data for detached single family dwellings which sold in East Baton Rouge parish for the years 2004 through
May 2009. I identified the home sales as either New Construction or Re-Sale because, in my experience, they have distinct characteristics.

Although seasonality effects are obvious, overall unit sales in the parish have been trending downward since hurricane Katrina as the following chart illustrates.
Currently, unit sales volume for both new construction and for previously owned homes are at 5-year lows.

East Baton Rouge Home Sales

Looking specifically, at May unit sales for 2009 and for the previous five years we can see that homes in both market segments are at historic lows, at least
for the five year period examined.

East Baton Rouge Homes Unit Sales for May


A simple linear calculation of unit sales through the end of 2009 projects that new construction will be down nearly 8% while previously owned new homes will be down by
about 12%.

East Baton Rouge Homes Sales Projection

The next chart illustrates that the average price of a previously owned home sold during 2009 is 6.5% lower than in 2008. New construction
prices are also down buy by a more modest 3.5%.

East Baton Rouge Homes Average Price

Overall the supply of homes is more or less balanced by the demand. Based upon the average absorption rate of homes during 2009, there is a six-month
supply making it a neutral market. If one looks at different price ranges, however, different conclusions can be drawn. A sellers market
condition exists for homes priced below $250K while a buyers market condition exists for homes priced over $300K. For homes priced
over $400K there is more than a 20-month supply based upon the average absorption rate for 2009.

East Baton Rouge Home Sales Absorption

Readers are encouraged to comment with questions or suggestions for improvement. Anyone interested in exploring the possibility of buying or selling
property is welcomed to call or e-mail1312 me.



©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

University Club Plantation – Market Update

Baton Rouge, LA: University Club Plantation

Baton Rouge Subdivision - University Club The University Club Plantation subdivision in Baton Rouge is a golf community located off Nicholson Drive (Hwy 30) in southwestern Baton Rouge near the Iberville parish line. The golf club is private and was created for the benefit of LSU Athletics. It is the home course for the LSU men’s and women’s golf teams.

Nestled among the greens are high-end luxury homes primarily in the country french architectural style.

Home prices in the subdivision have continued to rise since homes were first sold in 2003. In 2008, however, the average price of a previously occupied home dropped rather significantly but that average is calculated on only five home sales for the year. Home sales during the peak selling months may bring that average up.


Overall, the absorption rate so far in 2008 is already nearly at the level of 2007 and the best selling months are still ahead of us. It is possible that there will be record sales during the year. On the other hand, there is a significant over supply of homes in the subdivision making it a buyer’s market.

Here is a list of currently available homes in this fine subdivision. Please call me at (225)413-3624 if you’d like additional information or to schedule a private tour.


As always, I welcome readers to visit my websites at www.DonAndAlishaStern.com, www.TheHomeVendor.com, www.LiveAscension.com or www.PelicanPointHomes.net for real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.

Contact me via e-mail1312 or call me at (225) 413-3624 for more information.

©2008 by Don Stern – All Rights Reserved

Baton Rouge, LA: Tr-Parish Inventory Levels Holding

The inventories of homes in the new and resale market segments are showing no substantial change in the Tri-parish area of the Greater Baton Rouge residential real estate market. The fact that inventory levels are not growing portends well for the area real estate market with additional homes coming onto the market about as fast as others are being sold.

The following charts illustrate those inventory levels for the Tri-Parish (Ascension, East Baton Rouge and Livingston) area. The first chart is for new construction while the second is for homes in the resale market.

Tri-Parish new construction inventory levels

Tri-parish Inventory levels resale market

This provides further confirmation that the overall market in the Tri-parish area is balanced. My 2007 year-end report show that monthly absorption rates were as shown in the following table.

Market Segment
Parish

New Construction

Resale Homes

Overall

Ascension 6.4 5.0 5.6
East Baton Rouge 6.9 4.1 4.5
Livingston 7.0 5.0 5.7

While the absorption rates for new construction in East Baton Rouge and Livingston parishes has ventured slightly into Buyers Market territory (over 6.5 months supply) it remains a Sellers Market (under 5.5 months supply) for homes in the resale market segment.

Click here for more information about the comprehensive 2007 Year-End Residential Greater Baton Rouge Area Real Estate Market Report.

The information presented herein was based upon the analysis of data obtained from the Greater Baton Rouge Association of Realtors MLS system for residential detached single family listings.

Don Stern

www.DonAndAlishaStern.com
(225) 413-3624