http://batonrougerealestateappraisal.com/ - Baton Rouge Real Estate 70809 Update

Within Santa Maria, the CMA reveals average sales price $583K, low $320K, high $1,600,000 with avg days on mkt of 160+ days.

An MLS CMA of this Subdivision from 01/01/2007 to 12/31/2007 revealed:
Average Sales Price: $583,790
Average Sold Price Per Sq. Ft.: $162.96
Median Sold Price: $562,450
Low Sales Price: $315,000
High Sales Price: $1,600,000
Average # of Days On Market: 120
# of Sales: 82

An MLS CMA of this Subdivision from 01/01/2008 to Present reveals:
Average Sales Price: $583,409
Average Sold Price Per Sq. Ft.: $159.35
Median Sold Price: $557,360
Low Sales Price: $320,000
High Sales Price: $1,021,700
Average # of Days On Market: 160
# of Sales: 42

Therefore, based on the median sale price barometer (the barometer used by the NAR National Association of Realtors) within Santa Maria Subdivision, the market direction appears to be declining slightly, down -1%. This market has slowed considerably with 2008 vs 2007 Sales down -49%. There are currently 31 listings in MLS in Santa Maria and 2 listings in www.fsbobr.com, for a total of 33 listing. Considering the 42 homes old sold since 1/1/2008, there is somewhat of an inventory of homes on the market in Santa Maria.

The Average Sales Price has decreased by only -$0,381 or less than 1%

Median Sales Price has decreased slightly by -$5,090 or -1%

Average Sold Price Per Sq. Ft. has decreased by -$3.61/sf or -$2.22/sf.

70809 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

Santa Maria is an upscale neighborhood located off of Old Perkins Road in Baton Rouge. The homes built in this subdivision are primarily French country and Acadian in style and are built surrounding The Santa Maria Golf Course. The following market analysis was based upon data extracted from the Greater Baton Rouge Association of Realtors MLS database and while every effort was made to ensure accuracy no warranties are made. Sales data from 2002 through 2007 were examined as was the current inventory as of January 25, 2008. The following graphs illustrate the average and median home prices in Santa Maria for both new construction and the resale market between 2002 and 2007.

The Santa Maria golf course is a public BREC-managed golf course. It is an 18-hole par 72 golf course designed by Robert Trent Jones Sr. It was purchased by BREC in 1990. The Spanish-style clubhouse includes a pro shop, a full-service restaurant and a private conference/dining room and a fitness center. The restaurant and veranda overlook the beautiful 18th green

The charts to the left look at monthly absorption rates between 2002 and 2007. As before, new construction is examined separately from homes in the resale market space. The charts show the absorption rates by price range, by price/sq.ft. and by size. During 2007, 14 new homes and 24 resale homes were sold yielding an absorption rates of 1.3 homes/month and 2.0 homes/month respectively. Given current inventory levels and at 2007 absorption rates, there is an over 18-month supply of new construction but only a 5-month supply of resale homes. Because the absorption rates for any given price range, $/sq.ft. or size are so small (less than 1/month) no meaningful conclusions can be drawn about any particular niche. Suffice it to say that there is a significant over supply of new construction in Santa Maria while the resale market is still quite healthy. Consumers looking to purchase a high-end home in Baton Rouge should be able to negotiate a very good deal that this time. Readers can click here to view the currently active listings in Santa Maria.

As always, I welcome readers to visit my websites at www.DonAndAlishaStern.com, www.TheHomeVendor.com or www.LiveAscension.com for real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.

©2008 by Don Stern - all rights reserved