With seventy five percent of 2009 in the past, I took a snapshot of sales for detached single family homes in the nine parish Greater Baton Rouge Metro area. In addition to segmenting the data by parish, I also separated new construction from re-sale or previously owned homes. The data were extracted from the Greater Baton Rouge Association of Realtors MLS database. The data are presumed accurate but are not warranted.
The next three charts show unit sales, average selling price and average selling price/sq.ft. for new construction in each of the nine parishes for each year since 2004. Unit sales in 2009 are projected by assuming the same absorption rates for the remainder of 2009.
In terms of unit sales we can see that in 2009 new construction is up significantly in Ascension parish, up a little in Livingston and West Baton Rouge parishes, and down or zero in all remaining parishes.
In general, we can see a drop in the average selling price of newly constructed homes.
The average selling price/sq.ft. in Ascension has been significantly lower in 2009 when compared to 2008. This reflects a shift toward more affordable new construction in Ascension. In East Baton Rouge and Livingston parishes, where there were significant levels of new construction sales, the selling price/sq.ft. was maintained at similar levels. In West Baton Rouge Parish, the average selling price/sq.ft. actually increased.
Unit sales for this market segment have remained relatively steady in 2009 as compared to 2008.
If one looks at both the average price and average price/sq.ft. charts for re-sale homes, we can see that, in general, home values are holding. While our 401Ks may have suffered, the equity we have in our homes may not have appreciated but neither have they lost much, if any, value.
As always, I appreciate hearing from readers and I welcome any comments or suggestions for improvement that you may offer.
©2009 by Don Stern - All Rights Reserved
(225)413-3634 phone (225)313-3698 fax
don@thehomevendor.com - email
www.TheHomeVendor.com www.DonAndAlishaStern.com www.LiveAscension.com www.PelicanPointHomes.com www.WaterfrontPropertyLA.com
 |
|
|
Meeting all your Real Estate needs in Ascension, East Baton Rouge, and Livingston parishes. Certified new construction expert. The difference is in the details... you'll appreciate the difference!
Livingston Parish, LA: February 2008 Market Update
East Baton Rouge Parish, LA: February 2008 Market Update
Ascension Parish Market Update - February 2008
Livingston Parish, LA: January 2008 Market Update
East Baton Rouge Parish, LA: January 2008 Market Update
Ascension Parish Real Estate Market Update - January 2008
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
