West Baton Rouge Addis Louisiana Real Estate: Housing Market Direction For Sugar Mill Plantation? Update 9/2008

http://westbatonrougeappraiser.com/ – West Baton Rouge Addis Louisiana Real Estate: Housing Market Direction For Sugar Mill Plantation, Update 9/2008?

I recently completed a home appraisal in Sugar Mill Plantation Subdivision and here’s what I discovered.

Solds In Sugar Mill Plantation from 9/10/07 to 9/10/08 reveal:
Average Sales Price: $226,583
Average Sold Price Per Sq. Ft.: $123.22/sf
Median Sold Price: $226,400
Low Sales Price: $199,000
High Sales Price: $246,900
# of Sales: 26
Average # of Days On Market: 146 Days On Market

Solds In Sugar Mill Plantation from 9/10/06 to 9/10/07 reveal:
Average Sales Price: $213,863
Average Sold Price Per Sq. Ft.: $118.87/sf
Median Sold Price: $216,150
Low Sales Price: $187,450
High Sales Price: $240,840
# of Sales: 40
Average # of Days On Market: 133 Days On Market

Based on the median sale price barometer (the barometer used by the NAR National Association of Realtors) within Sugar Mill Plantation, the market direction appears to be increasing. The average sales price has increased by +$12,720, median +$10,250 and average sold price per sq. ft. +$4.35/sf. These increases could also be attributable to the newer filing with newer homes at higher prices as well. These numbers above tell us that sales have slowed considerably from 40 down to 26 or -35%. However, the period from 9/06 to 9/07 was a post Hur. Katrina market where buying was more intense. Marketing time periods have increased dramatically as there are currently 17 homes actively listed with an average days on market of 263 days. A recent Baton Rouge Business Report article on the West Baton Rouge market attributed this increase in days on the market to lack of available financing through mortgage companies.

West Baton Rouge Addis Louisiana Real Estate: Housing Market Direction For Sugar Mill Plantation? Update 9/2008

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