Baton Rouge Real Estate: Melrose Place Housing Market Trend Place?

http://appraisersinbatonrouge.com/Baton Rouge Real Estate: Melrose Place Housing Market Trend Place?

Melrose Place Market Direction: Up or Down?    I recently completed a home appraisal in Melrose Place Subdivision on Hermitage Dr and made this discovery below. 

Solds In Melrose Place from 9/15/06 to 9/15/07 revealed: 
Average Sales Price: $127,225
Average Sold Price Per Sq. Ft.: $73.35/sf
Median Sold Price: $130,450
Low Sales Price: $80,000
High Sales Price: $169,800
# of Sales: 12
Average # of Days On Market: 49 Days On Market

Living Area Sizes Ranged From 1,160sf up to 2,614sf, a variance of 1,454sf.

Solds In Melrose Place from 9/15/07 to 9/15/08 reveals:  
Average Sales Price: $142,449
Average Sold Price Per Sq. Ft.: $66.90/sf
Median Sold Price: $149,000
Low Sales Price: $80,245
High Sales Price: $190,000
Average # of Days On Market: 20 Days On Market
# of Sales: 5  

Living Area Sizes Ranged From 1,118sf up to 3,425sf, a variance of 2,307sf.

Therefore, based on the median sale price barometer (the barometer used by the NAR National Association of Realtors) within Melrose Place, the market direction appears to be increasing, from $130,450 to $149,000 or +$18,550.   The average sales price has increased by +$15,224 and average sold price per sq. ft. decreased -$6.45/sf.

Both search periods excluded any REO and/or Distressed Sales.

 

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: Melrose Place Housing Market Trend Place?

Baton Rouge Real Estate: Melrose Place Housing Market Trend Place?

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