http://findfhaappraisersbatonrouge.com/ – Baton Rouge Real Estate News: Land O’ Lakes Housing Market Activity
Land O’ Lakes Subdivision has a very strong FSBO (For Sale By Owner) Presence.
According to MLS, Turn-over In Land O Lakes S/D has been relatively low. There were no MLS sales in 2007 and only 2 so far in 2008. Land O Lakes has a total of 56 lots and is improved with a variety of 41-50 year old housing styles and sizes from approx. 1,000sf up to 2,232sf, a 1,232sf variance.
However, my study of Legal News reports 10 total sales from 1/1/2007 to 10/29/2008, ranging in prices from $71,000 up to $261,000 and only 2 of these 10 sales were sales listed by Realtors in the MLS system. It appears that 80% of sales in Land O Lakes S/D were FSBO.
Solds In Land O Lakes from 01/01/2008 to 11/15/2008 reveal:
Average Sales Price: $139,250
Average Sold Price Per Sq. Ft.: $115.95
Median Sold Price: $139,250
Low Sales Price: $131,500
High Sales Price: $147,000
Average # of Days On Market: 9
# of Sales: 2
Listing Price To Sales Price Ratio: 100.00%
NOTE: However, there are 2 Active MLS Listings In Land O Lakes for $174,500 for 2232sf listed 9/8/2008 and $249,900 for 2,200sf listed 10/27/2008. There are also 2 current FSBO listings on www.fsbobr.com for $254,000 for 2120sf and $169,900 for 1605sf. So, obviously, the average sales price is higher than just $139,250. The average of all 2007/2008 sales prices was $145,537. The median sales price in same period was $133,650. However, this was a time period when generally the smaller homes were selling. Due to convenient location, the two (2) 2008 sales in Land O Lakes sold in under 15 days.