FHA Baton Appraisers Deliver Nicholson Lakes Subdivision 70810 Recent Study

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FHA Baton Appraisers Deliver Nicholson Lakes Subdivision 70810 Recent Study

Solds In Nicholson Lakes from 01/01/2007 to 12/31/2007 revealed: 
Average Sales Price: $194,601
Average Sold Price Per Sq. Ft.: $130.85
Median Sold Price: $193,000
Low Sales Price: $184,714
High Sales Price: $222,900
Average # of Days On Market: 60
# of Sales: 37

Solds In Nicholson Lakes from 01/01/2008 to 01/24/2009 reveals: 
Average Sales Price: $190,274
Average Sold Price Per Sq. Ft.: $125.99
Median Sold Price: $189,900
Low Sales Price: $171,000
High Sales Price: $210,000
Average # of Days On Market: 120
# of Sales: 27

Therefore, based on the median sale price barometer (the barometer used by the NAR National Association of Realtors) within Nicholson Lakes Subdivision, the market direction appears to be declining.  

The Average Sales Price has decreased by -$4,327 or 2.22%.

The Median Sales Price has decreased by -$3,100 or -1.61%

The Average Sold Price Per Sq. Ft. has decreased by -$4.86/sf or -3.71%.

LISTINGS:
There are 7 current listings in Nicholson Lakes, all active, none are pending.   Listed from $184,500 up to $199,900, average listing price $195,314 and average listing days on the market up to this point for these 7 listings has been 154 days.   The reason these homes are not selling is due to the slowdown in the market and the fact that, while the average sold price per sf in the second period of time was $125.99/sf, these homes are listing these homes with an average listing price per sf of $129.72/sf.   Apparently, these homeowners are still in denial about their home’s true market value. 

 

Author’s Bio:

Bill Cobb, CREA, is Greater Baton Rouge’s favorite and most reputable home appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values.  A home appraiser with 17 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.

Bill’s company, Accurate Valuations Home Appraisal Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).

Contact Bill Cobb and Accurate Valuations Home Appraisal Group for your next home appraisal:

Office: 225-293-1500

Fax: 1-866-663-6065

fastvalue2@cox.net

http://www.eastbatonrougefhaappraisers.com 

 

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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