Baton Rouge Real Estate: Is The Market Direction For Baton Rouge’s Kensington Estates Up or Down?
An MLS CMA of Kensington Estates Subdivision from 8/16/07 to 8/16/08 reveals:
The Average Sales Price: $550,108
The Average Sold Price Per Sq. Ft.: $149.85/sf
The Median Sold Price: $480,000
Low Sales Price: $393,000
High Sales Price: $751,000
Average # of Days On Market: 82 Days On Market
# of Sales: 13
An MLS CMA of this Subdivision from 8/16/06 to 8/16/07 reveals:
The Average Sales Price: $509,288
The Average Sold Price Per Sq. Ft.: $150.80/sf
The Median Sold Price: $503,250
Low Sales Price: $390,000
High Sales Price: $719,900
Average # of Days On Market: 30 Days On Market
# of Sales: 16
Therefore, based on the average sales price within Kensington Estates, the market direction has been increasing over the past 12 month period, by +$40,892. While the median home price declined from $503,250 to $480,000, the average sold price per sq. ft. remained almost constant. Since the beginning of the 2nd Quarter 2008, the Listing Price To Sales Price Ratio has remained favorable for Kensington homeowners. And, there is currently ONLY 1 home for sale in Kensington Estates, 1601 Notting Hill Dr, for $407,000 for 2,688sf or $151/sf, listed on 5/21/2008.
About Kensington Estates From http://www.kensington-estates.com/ :
Kensington Estates is an upscale, restricted subdivision located in the southeastern part of Baton Rouge,
Louisiana. It is off of Perkins Road between Siegen Lane and Highland Road. The development was started in 1997 with the first filing of 67 lots, in 1998 the second filing added 56 more lots, and in 2000 last (3rd) filing added 43 more. There are now a total of 167 lots, 162 of which have beautiful homes, and 5 which have no homes.
One of the most attractive features of the subdivision is the number of original trees (40+ feet tall) that were preserved during the development process and the generous spacing between homes. The subdivision also has a very strong Homeowner’s Association Board. This 3 person Board is responsible for the managing of day-to-day subdivision affairs, the general upkeep of the subdivision, homeowner’s dues, and the Architectural Control Council (ACC). The ACC ensures that all deed restrictions are being met in the subdivision. Board members are elected annually, while ACC members are assigned. All board members must be a current home owner or lot owner.
The home values in the subdivision have a broad price range, from the $300,000’s to $1,000,000+.
Bill Cobb, CREA, is a home valuation professional within the East Baton Rouge housing market. Visit his website @ http://eastbatonrougefhaappraisers.com/