Baton Rouge Real Estate Update: Are Shenandoah Estates Property Values Increasing Or Declining?

http://batonrougerealestateappraisers.com/ – Baton Rouge Real Estate: Are Shenandoah Estates 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 8/9/07 to 8/12/08 reveals: 
Average Sales Price: $198,049
Average Sold Price Per Sq. Ft.: $92.46/sf
Median Sold Price: $196,950
Low Sales Price: $139,000
High Sales Price: $282,000
Average # of Days On Market: 65
# of Sales: 70

 
Solds from 8/9/06 to 8/12/07 reveals: 
Average Sales Price: $192,409

Average Sold Price Per Sq. Ft.: $93.07/sf
Median Sold Price: $189,000
Low Sales Price: $119,000
High Sales Price: $280,000
Average # of Days On Market: 39 Days
# of Sales: 93

A comparison of the two different time periods, despite the troubles in the national housing market, shows an increase in average Shenandoah Estates home values of +$5,640 over a 1 year period.  The average Median Price increased +$7,950.  Yes, this market has slowed with 70 sales in the previous 12 months versus 93 sales between 8/06 to 8/07.  However, when one reads the constant negative national real estate headlines, the fact that Shenandoah Estates has 70 closed sales and values are still increasing in a “Post Mortgage Meltdown” and a “Tight Credit Crisis”, that’s great news for the Baton Rouge Housing Market!

Regarding The New Green Trails Development.   Shenandoah Estate’s Golf Course was purchased by a developer and turned into new, upscale homes.  This appraiser lived in Shenandoah from 1973 to 1980 and fished at the golf course ponds after school.   It’s not known what impact this new development has had on Shenandoah Estate’s home values.   The average home age in Shenandoah is believed to be approx. 30 years old.   And, the strongest sales in Shenandoah Estates appear to be those near the Hagerstown area closest to White Oak Landing and Lake @ White Oak Subdivision where the homes are custom built and higher in values.   It appears that filings 23-26 or 27 have the higher sales prices per sq. ft. and these filings aren’t close to the Green Trails location. 

Shenandoah Estates information is provided with the permission of the Greater Baton Rouge Board of Realtors.

Baton Rouge Real Estate Update: Are Shenandoah Estates Property Values Increasing Or Declining?

Baton Rouge Real Estate Update: Are Shenandoah Estates 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