http://www.batonrougefhaappraisers.com/ – 2009 Baton Rouge Real Estate Reports: Area 43 Gains
With the Fantastic consecutive rounds of positive economic news for the Greater Baton Rouge Economy, the East Baton Rouge Housing Market, more particularly the MLS Area 43, is showing increases in median sales prices. As the chart below clearly shows, the median sales price continues to increase slowly. In fact, after appraising in Area 43 in 2009, there appears to be a shortage of homes on the market in the $120,000 to $160,000 price range.
The numbers above were compiled for a recent appraisal in Royal Oaks, but consider the whole of MLS Aarea 43. The search parameters were 12/01/2007 to present, 1400sf to 1700sf, 16 years old + homes in the $110,000 to $190,000 range. The Median Sales Price Percentage Increase Since 12/2008 has been +3.33%. Within my appraisal report, I noted a 6 month supply of competing housing on the market, only 5 competing listings and a 97% Listing-To-Sales Price Ratio. However, in Royal Oaks, the Listing-To-Sales Price Ratio appeared to be higher at 99%, average sold price per sq. ft. $97.56/sf and average days on the market 83 days.
Author’s Bio:
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 18 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
Fax: 1-866-663-6065
http://www.batonrougerealestateappraisal.com/
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