About Baton Rouge's Shenandoah

http://www.batonrougehousingreports.com/ - Baton Rouge Housing Reports: Shenandoah Estates Market Observation February 2012

Video Link: http://www.youtube.com/watch?v=2KwT1u37Pq8

In this video, Baton Rouge Home Appraiser, Bill Cobb, shares recent trends he is seeing in the Shenandoah Estates housing market. This is in the newer section for homes in the 2150sf to 2600sf range built before 1999. Generally from $188,000 up to $255,000.

http://www.youtube.com/watch?v=2KwT1u37Pq8

Generally, it appears this market is slowing down in terms of the number of home sales, absorption rate is declining months supply of competing housing is increasing, the median sales price is declining from $220,000 down to $201,000 and the median comparable sales days on the market has increased from 61 7-12 months ago to 166 days in the current 3 month period.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2009 to February 22, 2012. This information was extracted on 02/22/2012.

http://www.baton-rouge-real-estate.com/ - 2011 Baton Rouge Real Estate: Shenandoah Estates Corrects -4.4% to -7% YTD

Correcting Average Sold Price Per Square Foot. An analysis of Shenandoah home sales prices from 2010 versus 2011 Year-To-Date shows a -4.4% decline or correction. In 2010, there were 46 total sales with an average sales price of $92.61/sf. In 2011 YTD, there has been 41 total sales with an average sales price of $88.55/sf, which calculates to a -4.4% loss. However, at $88.55/sf, this is only close to $1.00 off the 2006, 2008 and 2009 support levels. AND, with those homes set to close from summer buying season, the 2011 numbers could improve.

Correcting Average Sold Price and Median Sold Prices. These two (2) charts below show a fairly strong correction in sold prices since 2009 and September 2010. However, Shenandoah Estates is one of the largest subdivisions in Baton Rouge with varying sizes of homes. It did appear from analysis that more of the smaller homes sold in 2011 than in 2010 contributing to the visual declines below. No, I don't believe it's at all possible for declines of -19% since September 2010 as the median sold price chart shows. This is why I placed the Average Sold Price Per Sq. Ft. chart above first in the series since it's more realistic.

HOWEVER, per GBRMLS, the Average Sold Price and Median Sold Prices in 2010 were $200,593 and $199,000 versus 2011 numbers of $187,382 and $185,000. The Average Sales Price has declined by -$13,211 or -6.6%. The Median Sales Price has declined by -$14,000 or -7%.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2006 to September 13, 2011. This information was extracted on 09/13/2011. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!

Author: Bill Cobb with Greater Baton Rouge's Accurate Valuations Home Appraisal Group

http://www.batonrougerealestateappraisers.net/ - Baton Rouge Housing Trends: Shenandoah Hills Subdivision 2010 Home Prices Increase!

Solds In Shenandoah Hills Subdivision from 1/2010 to 12/31/2010 revealed:

Average Sales Price: $146,357 ($133,260 in 2009)
Average Sold Price Per Sq. Ft.: $108.12/sf ($99.34/sf in 2009)
Median Sold Price: $149,500 ($132,500 in 2009)
Number of Sales: 7 (5 in 2009)
Average Number of Days On Market: 44 (48 in 2009)
Low To High: $129,900 to $152,000
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 3, 0 Are Foreclosures
Current Listings Price: $140,900 to $150,900 or $105 to $113/sf

The Median Sales Price has increased from $132,500 in 2009 and $144,000 in 2008 to $149,500 in 2010.

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