Denham Springs Appraisers South Point November 2010: Sales And Prices Down, Some Are Upside Down Now!

 

http://www.southpointappraiser.com/ – Denham Springs South Point November 2010 Update: Number of Sales And Price Per Sq. Ft. Down! There was only 1 sale in November 2010.  Sold Price Per Sq. Ft. Down $7.47/sf in 2010 or -8%.

 

Denham Springs Appraisers South Point November 2010: Sales And Prices Down, Some Are Upside Down Now!

 

 

NOVEMBER 11/1/2010 to 11/30/2010: Only 1 GBRMLS Sale. 23862 Waterford Ct, with 1,908sf sold for $152,900 or $80/sf.

YEAR-TO-DATE SOLDS:

Solds In South Point from 1/1/2010 to 12/02/2010 revealed:
Average Sales Price: $150,723
Average Sold Price Per Sq. Ft.: $86.74 (Avg through 11/09 $94.21)
Median Sold Price: $152,450
Number of Sales: 24
Average Days On Market: 84
Low To High: $106,500 to $198,500
Number of Sold REO/Foreclosures Noted In MLS: 5

With these lower sold prices per square foot, some that paid high prices post Hurricane Katrina are now possibly upside down on their mortgages.  A drop from $94.21/sf in 2009 to only $86.74/sf in 2010 or 8% is fairly drastic decline.  

 

NUMBER OF SALES IN 2010 VERSUS 2009 YTD: -29.4% Decline

In The Number Of Sales From 1/1/09 – 11/30/09 to 1/1/10 – 11/30/10. In 2009 there were 34 sales at this point and in 2010 there have been 24 sales. So, there have been 10 less sales or -29.4% in home sales volume.

CURRENT LISTINGS AS OF 12/02/2010:

Current # GBRMLS Listings: 21, 3 REO/Foreclosure Listing
Current Listings Prices: $89,000 To $210,000, Average $90/sf.   $89,000 Listing Price is one of the lowest I’ve ever seen in South Point.         Listing Prices per square foot range from $71/sf up to $110/sf. 

Denham Springs Appraisers South Point November 2010: Sales And Prices Down, Some Are Upside Down Now!

 

 

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®MLS for the period of January 1, 2009 to December 2, 2010.  This information was extracted on 12/02/2010. 

 

 

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Denham Springs Appraisers South Point November 2010: Sales And Prices Down, Some Are Upside Down Now!

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