Baton Rouge Real Estate Update: Are Round Oak Housing Values Increasing Or Declining?

http://eastbatonrougefhaappraisers.com/ –  Baton Rouge Real Estate Update: Are Round Oak Housing Values Increasing Or Declining?

Round Oak Market Direction: Up or Down?    I recently completed a home appraisal in Round Oak Subdivision and made this discovery below.   Due to Round Oak’s much larger than average lot sizes, turn-over is very low in Round Oak S/D. 

Solds In Round Oak from 9/17/06 to 9/17/07 reveal: 
Average Sales Price: $242,500
Average Sold Price Per Sq. Ft.: $97.66/sf
Median Sold Price: $247,500
Low Sales Price: $187,500
High Sales Price: $287,500
# of Sales: 4
Average # of Days On Market: 45 Days On Market

Solds In Round Oak from 9/17/07 to 9/17/08 reveal: 
Average Sales Price: $244,700
Average Sold Price Per Sq. Ft.: $113.33/sf
Median Sold Price: $242,500
Low Sales Price: $239,900
High Sales Price: $253,900
Average # of Days On Market: 29 Days On Market
# of Sales: 4 

Therefore, based on the median sale price barometer (the barometer used by the NAR National Association of Realtors) within Round Oak, the market direction appears to be decreasing slightly by -$5,000.   However, this doesn’t make logical sense when the average sales price has increased by +$2,200 and average sold price per sq. ft. has increased by +$15.67/sf.   When all 3 factors are taken into consideration, it really appears that this market has remained more table than any other indication.   It’s difficult to make a conclusion when only 4 sales occurred for each period of time.   Also, there is a variety of ages of homes from 3 years old up to approx. 25 years old.   So, it’s possible that more older homes might have sold in the first period and more newer homes sold in the second period of time.   In comparison to the gloomy national housing market, Round Oak S/D is performing very well. 

Round Oak S/D data is provided with the permission of the Greater Baton Rouge Board of Realtors. 

Baton Rouge Real Estate Update: Are Round Oak Housing Values Increasing Or Declining?

Baton Rouge Real Estate Update: Are Round Oak Housing 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