Baton Rouge Real Estate Update: Are Azalea Lakes Property Values Increasing Or Declining?

http://batonrougerealestateappraisers.com/ – Baton Rouge Real Estate: Are Azalea Lakes Property Values Increasing Or Declining?

Baton Rouge Real Estate Update: Are Azalea Lakes Property Values Increasing Or Declining?

To discover the answer, let’s look at two different periods of time – 8/07 to 8/08 (Post National Mortgage Meltdown & Credit Crisis) and 8/06 to 8/07 (Pre National Mortgage Meltdown)
 
Solds from 9/17/06 to 9/17/07 reveals: 
Average Sales Price: $189,610
Average Sold Price Per Sq. Ft.: $118.10/sf
Median Sold Price: $186,500
Low Sales Price: $165,000
High Sales Price: $222,000
Average # of Days On Market: 27
# of Sales: 25
 
Solds from 9/17/07 to 9/17/08 reveals: 
Average Sales Price: $189,028
Average Sold Price Per Sq. Ft.: $117.21/sf
Median Sold Price: $186,000
Low Sales Price: $165,000
High Sales Price: $219,987
Average # of Days On Market: 52 Days
# of Sales: 37

A comparison of the two different time periods shows a slight decrease in average sales prices of -$582 over a 1 year period.   The Median Price decreased -$500.   And, the average sold price per sq. ft. decreased by -$0.89/sf.   Overall, these are very small declines, almost insignificant.  What is unique for Azalea Lakes that I see is that there were more sales in the second period (post mortgage meltdown) of 37 sales versus only 25 sales for the first period (pre-mortgage meltdown).    When one reads the constant negative national real estate headlines, the fact that Azalea Lakes had 37 closed sales and values are still stable in a “Post Mortgage Meltdown” and a “Tight Credit Crisis”, that’s good news for the Baton Rouge Housing Market!

Azalea Lakes information is provided with the permission of the Greater Baton Rouge Board of Realtors.

Related Posts Plugin for WordPress, Blogger... - Baton Rouge Real Estate Update: Are Azalea Lakes Property Values Increasing Or Declining?

Baton Rouge Real Estate Update: Are Azalea Lakes Property Values Increasing Or Declining?

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