Baton Rouge Real Estate: Housing Market Direction For Park Forest S/D?

http://www.eastbatonrougefhaappraisers.com/ – Baton Rouge Real Estate: Housing Market Direction For Park Forest S/D?   

Park Forest Housing Sales Prices Appear To Be DECLINING.   

Solds In Park Forest Subdivision from 9/27/2006 to 9/27/2007 reveal: 
Average Sales Price: $146,221
Average Sold Price Per Sq. Ft.: $86.43/sf
Median Sold Price: $148,000
Low Sales Price: $104,900
High Sales Price: $191,500
Average # of Days On Market: 35 Days On Market
# of Sales: 47  

Solds In Park Forest Subdivision from 9/27/2007 to 9/27/2008 reveal: 
Average Sales Price: $140,703
Average Sold Price Per Sq. Ft.: $85.22/sf
Median Sold Price: $137,900
Low Sales Price: $104,000
High Sales Price: $196,000
Average # of Days On Market: 87 Days On Market
# of Sales: 29  

Time Periods Exclude Any Potential REO Sales  

Therefore, based on the median sale price barometer (the barometer used by the NAR National Association of Realtors) within Park Forest, the market direction appears to be decreasing.   The average sales price has decreased by -$5,518, median sale price has decreased by -$10,100 and average sold price per sq. ft. has decreased by -$1.21/sf.   The first period of time was noted as the “Post Hurricane Katrina Boom” where available housing was in short supply.   The second period of time is noted as the “cooling off period” where housing values are returning to levels of previous support. 

Park Forest S/D data is used with the permission of the Greater Baton Rouge Board of Realtors.

Author’s Bio:

Bill Cobb, CREA, is Greater Baton Rouge’s favorite and most reputable home appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values.  A home appraiser with 16 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.

Bill’s company, Accurate Valuations Home Appraisal Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).

Contact Bill Cobb and Accurate Valuations Home Appraisal Group for your next home appraisal:

Office: 225-293-1500

Fax: 1-866-663-6065

fastvalue2@cox.net

http://www.batonrougehomeappraisals.com 

Baton Rouge Real Estate: Housing Market Direction For Park Forest S/D?

Baton Rouge Real Estate: Housing Market Direction For Park Forest S/D?

About Bill Cobb, Appraiser

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