Zachary Louisiana FHA Appraisers Report On Beaver Creek February 2009 Update

http://zacharylouisianarealestate.info/ –  Zachary Louisiana FHA Appraisers Report On Beaver Creek February 2009 Update

Sold In Beaver Creek Subdivision from 01/01/2007 to 12/31/2007 revealed: 
Average Sales Price: $305,403
Average Sold Price Per Sq. Ft.: $127.06
Median Sold Price: $276,888
Low Sales Price: $216,600
High Sales Price: $534,500
Average # of Days On Market: 79
# of Sales: 12

Solds In Beaver Creek Subdivision from 01/01/2008 to 02/25/2009 reveals: 
Average Sales Price: $294,422
Average Sold Price Per Sq. Ft.: $128.82
Median Sold Price: $299,000
Low Sales Price: $237,500
High Sales Price: $341,900
Average # of Days On Market: 162
# of Sales: 9

Therefore, based on the median sale price barometer (the barometer used by the NAR National Association of Realtors) within Beaver Creek On The Plains Subdivision, the market direction appears to be increasing.   The Average Sales Price has declined -$10,981 or -3.6%., indicating a new  trend of scaling down from buying the larger homes to the smaller homes, from more expensive homes down to the less
expensive homes.   Median Sales Price has increased +$22,112 or +8%.   Average Sold Price Per Sq. Ft. has increased +$1.80/sf or +1.39%.   Overall, this market appears to be stable.   HOWEVER,  the two (2) 2009 sales in Beaver Creek averaged $117.47/sf, $286,250, $286,250 median sales price  and were on the market for an average of 365 days, 285 DOM and 445 DOM.    So, the 2009 market is reflecting a slowdown, higher DOM and less per sq. ft..   A declining market is defined as, “A stage of diminishing demand in a market area’s life cycle.”    There is certainly less demand for homes in this price range and less homes selling in this price range.   Therefore, while property values appear to be stable, there is an oversupply of competing housing and marketing time periods over 6 months – subject’s marketing time period was 209 days.  

Beaver Creek Data Is Provided With The Permission Of The Greater Baton Rouge Board of Realtors.

Zachary Louisiana FHA Appraisers Report On Beaver Creek February 2009 Update

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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