Baton Rouge Home Appraiser Bill Cobb reports on Parc Chaleur Subdivision in Baker Home Louisiana 70714
Did Parc Chaleur Subdivision flood in August 2016?
If it did, I didn’t see any signs or evidence of flooding as of 11/12/2016.
Baker Is A Weaker Housing Market Overall
In general, the Baker housing market is still weak when other markets like Zachary, Baton Rouge, Central and Ascension Parish are very strong. For example, of the 269 sales since January 1, 2015, 78 of them or 29% were distressed sales (foreclosure, short sale or 3rd party). Other markets have far, far less distressed sales and are performing exceptionally better than the weaker Baker market. And, the average listing to sales price ratio in Baker has been 95% where it’s closer to 99% to 100% in the market noted above. The “Average Listing To Sales Price Ratio: 95%” means the average home sells for 5% less than listing price.
60 Percent Of Parc Chaleur Sales Were Foreclosures
And, of the 5 sales noted below in Parc Chaleur since 1/1/2015, 3 of the 5 were foreclosure sales or 60%. And, this is not alarming to me after working in the Baker market since 1994 seeing such trends, especially where new homes and new subdivisions are built selling at higher than normal $80,000 prices.
From January 2015 to November 12 2016 Parc Chaleaur Subdivision:
5 Sales From $101,300 to $155,000
Median Sales Price $140,000
Average Sold Price Price $132,140
Average Sold Price Price Per Square Foot $94/sf
Average Listing To Sales Price Ratio: 97%
Average Days On Market: 30 Days
Median Days On Market: 29 Days
Average Home Size: 1,426sf 3 bedrooms, 2 baths
The “Average Listing To Sales Price Ratio: 97%” means the average home sells for 3% less than listing price.
Current Parc Chaleur Subdivision GBRMLS Listings:
Only 1 Active Listing for $167,000 or $102/sf for 1,635 sq. ft. and this home originally sold in 2006 for a post Hurricane Katrina high of $175,700 02/19/2007. Hurricane Katrina was an artificial event where home prices went up drastically and then in markets like Baker, home prices came down. The Baker and Parc Chaleur market no longer supports $175,700 for 1635sf.
GREATER BATON ROUGE REAL ESTATE DATA NOTE:
Based on information from Greater Baton Rouge Association of REALTORS®\MLS for period 01/01/2015 to 11/12/2016, extracted on 11/12/2016.