Baton Rouge Real Estate News: Land O’ Lakes Housing Market Activity

http://findfhaappraisersbatonrouge.com/ – Baton Rouge Real Estate News: Land O’ Lakes Housing Market Activity

Land O’ Lakes Subdivision has a very strong FSBO (For Sale By Owner) Presence. 

According to MLS, Turn-over In Land O Lakes S/D has been relatively low.  There were no MLS sales in 2007 and only 2 so far in 2008.  Land O Lakes has a total of 56 lots and is improved with a variety of 41-50 year old housing styles and sizes from approx. 1,000sf up to 2,232sf, a 1,232sf variance. 

However, my study of Legal News reports 10 total sales from 1/1/2007 to 10/29/2008, ranging in prices from $71,000 up to $261,000 and only 2 of these 10 sales were sales listed by Realtors in the MLS system.   It appears that 80% of sales in Land O Lakes S/D were FSBO.

Solds In Land O Lakes from 01/01/2008 to 11/15/2008 reveal: 
Average Sales Price: $139,250
Average Sold Price Per Sq. Ft.: $115.95
Median Sold Price: $139,250
Low Sales Price: $131,500
High Sales Price: $147,000
Average # of Days On Market: 9
# of Sales: 2
Listing Price To Sales Price Ratio: 100.00%

NOTE: However, there are 2 Active MLS Listings In Land O Lakes for $174,500 for 2232sf listed 9/8/2008  and $249,900 for 2,200sf listed 10/27/2008.   There are also 2 current FSBO listings on www.fsbobr.com for $254,000 for 2120sf and $169,900 for 1605sf.    So, obviously, the average sales price is higher than just $139,250.    The average of all 2007/2008 sales prices was $145,537.    The median sales price in same period was $133,650.  However, this was a time period when generally the smaller homes were selling.  Due to convenient location, the two (2)  2008 sales in Land O Lakes sold in under 15 days.

 

Baton Rouge Real Estate News: Land O' Lakes Housing Market Activity

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