Dutchtown Geismar La Housing Market Slowsdown and Corrects Big Time in 2011

http://www.ascensionrealestateappraisers.com/ – Dutchtown Geismar La Housing Market Slowsdown and Corrects Big Time in 2011….at least in Dutchtown Villas Subdivision!

Dutchtown Geismar La Housing Market Slowsdown And Corrects Big Time In 2011

 

I received an email this week which alerted me to a major slowdown in the Dutchtown Geismar Louisiana housing market, or at least in Dutchtown Villags Subdivision. The trends chart is below and may be too small to read the stats so I enlarged them immediately below.

dutchtown -villas-subdivision-geismar-la-home-sales-statistics - Dutchtown Geismar La Housing Market Slowsdown And Corrects Big Time In 2011

Now, there are approximately 75 homes in this development, Garden style homes in the 1500sf to 1650sf range. What one recognizes right off is the drop off in sales, from 10 in 2008 to only 3 in 2009, none in 2010 and 3 in 2011. To me, this would appear to be a good indication which shows stability within the development – not much turn-over of satisfied residents. However, since 2008, the Average Sold Price has declined from $192,900 to $170,700 in 2011, which is -$22,200 or -11.5%. The Median Sold Price has declined from $192,750 to $176,000 in 2011, which is -$16,750 or -8.7%. And, in 2009, the Average Sold Price per Sq. Ft. was $122/sf versus only $113.48/sf in 2011, which is -$8.42/sf or -7%.

 

dutchtown -villas-subdivision-geismar-la-home-sales-trends - Dutchtown Geismar La Housing Market Slowsdown And Corrects Big Time In 2011

 

The Greater Baton Rouge Housing Market Correction and Slowdown I’ve been reporting on in 2011 is real and I don’t expect these numbers to improve anytime soon.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2008 to October 11, 2011. This information was extracted on 10/10/2011. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!

Author: Bill Cobb, Appraiser Accurate Valuations Home Appraisal Group.

 

Tags: Ascension FHA Appraisers, Ascension Home Appraisers, Ascension Parish Appraisers, Ascension Parish Home Appraisers, Ascension Parish Real Estate, Ascension Parish Real Estate Appraisers, Ascension Parish Realtors, Dutchtown Villas, Housing Correction

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Dutchtown Geismar La Housing Market Slowsdown And Corrects Big Time In 2011

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