Gonzales Louisiana Real Estate: Housing Market Direction For Old Dutchtown ?

http://appraisersinascension.info/Gonzales Louisiana Real Estate: Housing Market Direction For Old Dutchtown ?

Old Dutchtown Market Direction: Up or Down?    I recently completed a home appraisal On Babin Mill Ave in Old Dutchtown Subdivision and made this discovery below.   The results below have combined both sections of Old Dutchtown.  There are 2 sections within Old Dutchtown – the 1st and 2nd filings (older section), with 1-3 year old homes and the 3rd filing (newer section) which has new homes.  There is a difference in the prices of lots and homes in the older versus newer section.   Currently, in older section, there are 6 active listings from $255,900 to $299,900.   Currently, in newer section, there are 9 active listings from $247,900 to $298,500. 

Solds In Old Dutchtown from 9/16/06 to 9/16/07 reveal: 
Average Sales Price: $270,957
Average Sold Price Per Sq. Ft.: $130.68/sf
Median Sold Price: $265,420
Low Sales Price: $215,300
High Sales Price: $343,083
# of Sales: 66
Average # of Days On Market: 82 Days On Market

Solds In Old Dutchtown from 9/16/07 to 9/16/08 reveal:  
Average Sales Price: $277,726
Average Sold Price Per Sq. Ft.: $133.68/sf
Median Sold Price: $274,850
Low Sales Price: $250,000
High Sales Price: $334,266
Average # of Days On Market: 128 Days On Market
# of Sales: 30  

Therefore, based on the median sale price barometer (the barometer used by the NAR National Association of Realtors) within Old Dutchtown, the market direction appears to be increasing, from $265,420 to $274,850.   This increase is mostly attributable to the higher prices in the newer sections of Old Dutchtown.   The average sales price has increased by +$6,769 and average sold price per sq. ft. +$3.00/sf.   This market had slowed from 66 sales in the first period to 30 sales in the second period, which may have more to do with the current “credit crunch” than the local market itself. 

 

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 16 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://ascensionparishfhaappraisers.com/  

Gonzales Louisiana Real Estate: Housing Market Direction For Old Dutchtown ?

Gonzales Louisiana Real Estate: Housing Market Direction For Old Dutchtown ?

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