Greenwell Springs Real Estate: Cedar Mill Run Housing Market Direction?

http://homeappraisalsbatonrouge.com/  – Greenwell Springs Real Estate: What’s The Housing Market Direction For Cedar Mill Run?

Cedar Mill Run Market Direction: Up, Down or Stable?   I recently completed a home appraisal in Cedar
Mill Run Subdivision, On Harvest Drive, and made this discovery below.
 
Solds In Cedar Mill Run from 09/21/2006 to 09/21/2007 reveal: 
The Average Sales Price: $116,581
The Average Sold Price Per Sq. Ft.: $95.62/sf
The Median Sold Price: $114,500
Low Sales Price: $92,000
High Sales Price: $135,000
Average # of Days On Market: 20 Days On Market
# of Sales: 16

Solds In Cedar Mill Run from 09/21/2007 to 09/21/2008 reveal: 
The Average Sales Price: $118,767
The Average Sold Price Per Sq. Ft.: $101.69/sf
The Median Sold Price: $113,000
Low Sales Price: $89,000
High Sales Price: $157,500
Average # of Days On Market: 21 Days On Market
# of Sales: 21

Excludes Any REO Sales

Therefore, based on the median sale price barometer (the barometer used by the NAR National Association of Realtors) within Cedar Mill Run, the market direction appears to be decreasing slightly by -$1,500.   However, this doesn’t make logical sense when the average sales price increased by +$2,186 and average sold price per sq. ft. increased by a whopping +$6.07/sf.   

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 or Staff 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.batonrougehomeappraisals.com

Greenwell Springs Real Estate: Cedar Mill Run Housing Market Direction?

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