http://denhamspringsappraisers.com/ – Denham Springs FHA Appraisers Report On Summerfield Subdivision 70726
An MLS CMA of this Subdivision from 01/01/2007 to 12/31/2007 revealed:
Average Sales Price: $201,375
Average Sold Price Per Sq. Ft.: $107.39
Median Sold Price: $202,750
Low Sales Price: $181,000
High Sales Price: $219,000
Average # of Days On Market: 88
# of Sales: 4
An MLS CMA of this Subdivision from 01/01/2008 to 02/19/2009 reveals:
Average Sales Price: $225,725
Average Sold Price Per Sq. Ft.: $107.33
Median Sold Price: $248,000
Low Sales Price: $184,900
High Sales Price: $270,000
Average # of Days On Market: 91
# of Sales: 4
Listing Price To Sales Price Ratio Has Been: 99%
Therefore, based on the median sale price barometer (the barometer used by the NAR National Association of Realtors) within Summerfield Subdivision, the market direction appears to be increasing. However, the rare $270,000 sale of a 2,400sf custom home on the lake with $40K Saltwater Pool, $25K Custom Car Storage & Workshop, which I appraised, for Summerfield did help to skew the numbers below. The Average home in Summerfield, per MLS, is 1,880sf. The Average Sales Price has increased +$24,350 or +12.09%, again, due to the rare $270K sale. Median Sales Price has increased +$45,250 or +22.32%, again, due to the rare $270K sale.. Average Sold Price Per Sq. Ft. is basically unchanged. Remember that this increase represents a period since 1/1/2008. Due to the significant slowdown in
this market, the Property Values box is checked as “Stable”. The last 4 sales in Summerfield since 1/1/2008 were on the market for 84, 22, 101 and 158 days, for an average of 91 days or approx. 3 months.
Summerfield data is presented with the permission of the Greater Baton Rouge Board of Realtors.
Bill Cobb, CREA, is Greater Baton Rouge’s favorite and most reputable home appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 17 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.
Bill’s company, Accurate Valuations Home Appraisal Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).
Contact Bill Cobb and Accurate Valuations Home Appraisal Group for your next home appraisal:
Office: 225-293-1500, Cell: 225-953-0638