Email Answer To Baton Rouge Home Buyer Desiring To Buy In Woodridge Subdivision

http://www.batonrougemarketmetrics.com/ – Woodridge Subdivision:
Email Answer To Baton Rouge Home Buyer Desiring To Buy In There

Email Answer To Baton Rouge Home Buyer Desiring To Buy In Woodridge Subdivision

I received an email from an out-of-town home renter (they’re from out-of-town but renting locally) seeking to purchase an existing home in Woodridge. I said existing home because approximately 90% of recent home sales in Woodridge recently have been taking place in the new rear filing of new homes. The question was asking what’s a reasonable asking price and/or support for the 2,300sf to 2,400sf existing homes as opposed to the newer homes?

8917 Spring Grove Drive Baton Rouge LA 70809 Woodridge Subdivision - Email Answer To Baton Rouge Home Buyer Desiring To Buy In Woodridge Subdivision

Below I have posted the general home price trends within Woodridge since 2007 with 2011 vs 2012 support increasing from $138.13/sf up to a new historic high of $142.64/sf. And, median sales price increase in 2011 vs 2012 from $329,200 up to $348,000. Marketing time in same period declined from 125 days to 109 days. Home sales do appear to have slowed with only 7 year-to-date as opposed to the 41 that sold in 2012. This could also be bacause of the incredibly high prices being asked for new homes in new rear filing.

baton-rouge-woodridge-gbrmls-history - Email Answer To Baton Rouge Home Buyer Desiring To Buy In Woodridge Subdivision

 

Woodridge Existing Home Sales.

Since 07/18/2011, there have been 11 sales between $295,500 to $352,500, between $127/sf up to $146/sf, between 2,262sf to 2,484sf most in the 6-10 year old range. This is a $19/sf variance. These 11 homes sold on average for 97.3% of most revised listing price. See chart below, addresses of homes sold were omitted.

Total # of Listings 11
Lowest Price Listing $295,500
Highest Price Listing $352,500
Average Listing Price $334,991
Average Sold Price $326,045
Avg. Sold Price/SqFt $136.22
Avg. Days on Market 45

chart - Email Answer To Baton Rouge Home Buyer Desiring To Buy In Woodridge Subdivision

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®MLS for the period of January 1, 2007 to April 6, 2012. This information was extracted on 04/06/2012. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!

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