Baton Rouge Market Metrics: Kenilworth Subd 2011 Update

http://www.batonrougemarketmetrics.com/ - Baton Rouge Market Metrics: Kenilworth Subd 2011 Update. Is this market Increasing, Declining or Remaining Steady? Since the Federal Tax Credit Expiration in May 2010, the number of home sales has declined considerably. For instance, in 2008, there were 22 MLS sales in Kenilworth versus 8 so far in 2011.

This is an on-going series into the decline of Greater Baton Rouge Home Values and why potential buyers should beware and not pay too much for "some" local overpriced listings. YES, there are overpriced listings in the Greater Baton Rouge Housing Market! Bill strongly recommends in this housing environment to obtain a Pre-Purchase Appraisal to gain ALL of the facts before making a local home purchase decision.

A study of the Kenilworth home sales revealed this interesting finding. From 2008 to 2011, the median sales price fluctuated from $212,500, $207,500, $247,000 to $220,750 based on current 5/15/2011 MLS figures (meaning the chart below has not been updated to reflect total 8 sales). 2011 at $220,750 is below 2010's $247,000, but above 2008 and 2009. Again, this is only based on 8 sales in the first 4.5 months of 2011. In 2010, there were 13 total sales.

The Chart below shows a considerable correction since May 2010 for ALL Kenilworth home sales since 2005.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2005 to May 15, 2011. This information was extracted on 5/15/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!

AUTHOR'S BIO:

Bill Cobb is Greater Baton Rouge’s Home Appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 20 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.

Bill’s company, Accurate Valuations 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
info@accuratevg.com
http://www.accuratevg.com/