Ascension Parish FHA Appraisers Reports On Pelican Point Golf Community

Ascension Parish FHA Appraiser, William D. Cobb, Reports On Pelican Point Golf Community

An MLS CMA of this Subdivision from 04/10/2007 to 04/13/2008 reveals:
The Average Sales Price: $345,416
The Average Sold Price Per Sq. Ft.: $130.65/sf
The Median Sold Price: $335,000
Low Sales Price: $232,500
High Sales Price: $523,000
Average # of Days On Market: 123 Days On Market
# of Sales: 43
Listing Price To Sales Price Ratio Has Been: 97.31%

Is there an "Over-Supply" of housing within Pelican Point? It appears so. According to MLS, there are currently 70 listings from $189,000 up to $1,500,000. Also, if one drives through Pelican Point, they see more than a few FSBO signs in the yards. As of 4/13/08, there were 13 listings in http://www.fsbobr.com/. This means that there is currently 83 listings in Pelican Point Golf Community, almost double the amount of homes that sold in the previous 12 month marketing period. This would appear to indicate an over-supply of housing for sale in Pelican Point.

This information was provided with the permission of the Greater Baton Rouge Board of Realtors.

Ascension Parish Real Estate Appraisers