Denham Springs Appraisers South Point November 2010: Sales And Prices Down, Some Are Upside Down Now!

http://www.southpointappraiser.com/ – Denham Springs South Point November 2010 Update: Number of Sales And Price Per Sq. Ft. Down! There was only 1 sale in November 2010. Sold Price Per Sq. Ft. Down $7.47/sf in 2010 or -8%.

NOVEMBER 11/1/2010 to 11/30/2010: Only 1 GBRMLS Sale. 23862 Waterford Ct, with 1,908sf sold for $152,900 or $80/sf.

YEAR-TO-DATE SOLDS:

Solds In South Point from 1/1/2010 to 12/02/2010 revealed:
Average Sales Price: $150,723
Average Sold Price Per Sq. Ft.: $86.74 (Avg through 11/09 $94.21)
Median Sold Price: $152,450
Number of Sales: 24
Average Days On Market: 84
Low To High: $106,500 to $198,500
Number of Sold REO/Foreclosures Noted In MLS: 5

With these lower sold prices per square foot, some that paid high prices post Hurricane Katrina are now possibly upside down on their mortgages. A drop from $94.21/sf in 2009 to only $86.74/sf in 2010 or 8% is fairly drastic decline.

NUMBER OF SALES IN 2010 VERSUS 2009 YTD: -29.4% Decline

In The Number Of Sales From 1/1/09 – 11/30/09 to 1/1/10 – 11/30/10. In 2009 there were 34 sales at this point and in 2010 there have been 24 sales. So, there have been 10 less sales or -29.4% in home sales volume.

CURRENT LISTINGS AS OF 12/02/2010:

Current # GBRMLS Listings: 21, 3 REO/Foreclosure Listing
Current Listings Prices: $89,000 To $210,000, Average $90/sf. $89,000 Listing Price is one of the lowest I've ever seen in South Point. Listing Prices per square foot range from $71/sf up to $110/sf.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2009 to December 2, 2010. This information was extracted on 12/02/2010.