Ascension Parish FHA Home Appraisers Report On Oak Alley Estates March 2009 Update

http://appraisersinascension.info/ – Ascension Parish FHA Home Appraisers Report On Oak Alley Estates March 2009 Update

Solds In Oak Alley Estates Subdivision from 01/01/2007 to 12/31/2007 revealed: 
Average Sales Price: $359,232
Average Sold Price Per Sq. Ft.: $135.28
Median Sold Price: $355,000
Low Sales Price: $277,900
High Sales Price: $469,480
Average # of Days On Market: 147
# of Sales: 21

Solds In Oak Alley Estates Subdivision from 01/01/2008 to 02/02/2009 reveals: 
Average Sales Price: $355,307
Average Sold Price Per Sq. Ft.: $130.86
Median Sold Price: $348,000
Low Sales Price: $293,000
High Sales Price: $437,000
Average # of Days On Market: 136
# of Sales: 15

Therefore, based on the median sale price barometer (the barometer used by the NAR National Association of Realtors) within Oak Alley Estates, the market direction appears to be declining.   The Average Sales Price has declined -$3,925 or -1.09%.   Median Sales Price has declined -$7,000 or -2%.   Average Sold Price Per Sq. Ft. has declined -$4.42/sf or -$3.27/sf.   Remember that a “Declining Market” is “A stage of diminishing demand in a market area’s life cycle.”  In 2009, the Avg DOM was 188 days or close to over 6 months.   There is still generally an over-supply of new homes between the $300,000 to $600,000 range.  In Oak Alley Estates, there are 8 listings in MLS, from $339,900 up to $435,000, and 7 of the 8 were listed in 2008 and have been on the market for several months now.   12365 Oak Colony
has been on the market since 2007.   In MLS, in Upper Ascension Parish, there are 77 Competing Listings between $350,000 and $509,000. 

Oak Alley Estates Subdivision data is provided with the permission of the Greater Baton Rouge Board of Realtors.

Ascension Parish FHA Home Appraisers Report On Oak Alley Estates March 2009 Update

 

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Ascension Parish FHA Home Appraisers Report On Oak Alley Estates March 2009 Update

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The Baton Rouge Residential Appraisal Blog is an information source provided by local Home Appraiser, Bill Cobb, and Accurate Valuations Group. Bill has 24 years experience as a Baton Rouge Residential Home Appraiser and updates his local network of sites weekly with reports, videos and audio reviews of local housing market conditions! 225-293-1500