About Baton Rouge's Monticello

http://www.batonrougerealestateappraisal.com/ - Baton Rouge Real Estate Appraisal Video: 2010 Monticello Subdivision Market Metrics

Solds In Monticello Subdivision from 1/2010 to 12/31/2010 Home Ages 16-20 +revealed:

Average Sales Price: $133,350 ($154,573 in 2009)
Average Sold Price Per Sq. Ft.: $75.09/sf ($90.92/sf in 2009)
Median Sold Price: $145,000 ($150,500 in 2009)
Number of Sales: 12 (12 in 2009)
Average Number of Days On Market: 79 (130 in 2009)
Low To High: $82,000 to $168,500
Number of Distressed Sales Noted In MLS: "4"
Current # Listings: 12, 6 Are Distressed Listings
Current Listings Price: $64,900 to $185,000 or $50/sf to $96/sf

This Graph Below Covers All Monticello Ages

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2007 to December 31, 2010. This information was extracted on 1/301/2011. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!

Tags: Appraisers Baton Rouge, Appraisers in Baton Rouge, Baton Rouge Estate Minute, Baton Rouge Garden District, Baton Rouge Home Appraisers, Baton Rouge Homes, Baton Rouge Housing, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Trends, Baton Rouge Realtor, Baton Rouge Realtors,

http://www.batonrougemarketmetrics.com/ - Baton Rouge Housing: Monticello Subdivisions Market Update For 2010 in 70814

I recently completed 2 home appraisal assignments in Monticello Subdivision this week, both on Monticello Boulevard, and noticed these observations. There appears to be some decline due to REO or foreclosure activity. The Average Sold Price Per Sq. Ft. is down $6/sf and Median Sales Price is down $5,000 from 2009 versus 2010. AND, 5 of the 12 Current Listings are Foreclosures with more at least 2 more foreclosures that could be on the market later in 2011.

Solds In The Monticello Subdivisions from 1/1/2010 to 12/16/2010 revealed:

Average Sales Price: $138,580 ($154,573 in 2009)
Average Sold Price Per Sq. Ft.: $85/sf ($91/sf in 2009)
Median Sold Price: $145,000 ($150,500 in 2009)
Number of Sales: 15 (20 in 2009)
Average Number of Days On Market: 64 (96 in 2009)
Low To High: $82,000 to $169,000
Number of Sold REO/Foreclosures Noted In MLS: 3 or 20% of All Sales
Current # Listings: 12, 5 Are Foreclosures or 42% of All Listings
Current Listings Prices: $89,900 To $175,000

The 15 sales in in this very large subdivision in 2010 versus the 20 in 2009 reflects the current slowdown of this market post Federal Tax Credit Expiration. Without the tax credit, there doesn't appear to be as much incentive to purchase a home. This slowdown in homes sales in a trend throughout the Baton Rouge housing market in latter 2010.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2009 to December 16, 2010. This information was extracted on 12/16/2010.

http://batonrougerealestateappraisal.com/ - Baton Rouge Real Estate 70814 Update - Monticello Subdivision Ages 11 Years +

Solds In Monticello Subdivision from 01/01/2007 to 12/31/2007, ages 11 Yrs + revealed:
Average Sales Price: $150,440
Average Sold Price Per Sq. Ft.: $84.47
Median Sold Price: $150,000
Low Sales Price: $119,000
High Sales Price: $197,000
Average # of Days On Market: 54
# of Sales: 22

Solds In Monticello Subdivision from 01/01/2008 to 02/02/2009, ages 11 Yrs + reveals:
Average Sales Price: $143,363
Average Sold Price Per Sq. Ft.: $86.10
Median Sold Price: $134,000
Low Sales Price: $127,000
High Sales Price: $175,000
Average # of Days On Market: 85
# of Sales: 8
Does not exclude any REO sales.

Therefore, based on the median sale price barometer (the barometer used by the NAR National Association of Realtors) within Subdivision, the market direction appears to be decreasing. Median Sales Price declined from $150,000 down to $134,000, a decline of -$16,000 or -10.67%. Data shows that sales have slowed dramatically, down 64% from 2007 levels. The declines are believed to be partly attributable a rise in foreclosures in Monticello as 2 of the 8 total sales for the second period was REO sales or 25%.

The Average Sales Price has decreased by -$7,077 or -4.70%.

Median Sales Price has decreased by -$16,000 or -10.67%.

Average Sold Price Per Sq. Ft. has increased by +$1.63/sf.

Monticello data used with the permission of the Greater Baton Rouge Board Of Realtors.

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 17 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

fastvalue2@cox.net

http://www.batonrougefhaappraisers.com