About Denham Springs' Easterly Lakes

http://www.denhamspringsappraisers.com/ - A Minor Meltdown in Higher End Denham Springs Watson La Housing Market?

I just completed a refinance appraisal in Watson's Easterly Lakes Subdivision and my, my was the market research an eye opener. As of 9/18/2010, the Post Hurricane Katrina Median Sales Price Highs from September 2007 have declined over 28%. Just since 9/2009, the median sales price has declined over 6%, see the chart above. Not only that, but my search of GBRMLS revealed 3 REO or Foreclosure sales and 1 REO Listing and 1 Short Sale Listing. This is a partial market condition statement I made below within my report:

"Based on 6 2010 Sales in Easterly Lakes, 2009 vs 2010, the average and median sales prices are both down as is the average sold price per square foot. The average sold price is down from $230,300 to $201,200. The median sold price is down from $220,000 to $211,500, a -3.8% decline. The average sold price per sq. ft is down from $111.81/sf to $101.08/sf. Year to date, there have been 6 sales versus 13 in 2009. The average days on the market has increased from 62 days in 2009 to 83 in 2010, but still under a 90 day market, which is good news."

http://www.batonrougerealestatetrends... - Baton Rouge Real Estate Trends Video: Denham Springs Easterly Lakes September 2010 Update. Appraiser Bill Cobb updates the housing market numbers for Easterly Lakes Subdivision in Watson Louisiana. Based on 6 2010 Sales in Easterly Lakes, 2009 vs 2010, the average and median sales prices are both down as is the average sold price per square foot. The average sold price is down from $230,300 to $201,200. The median sold price is down from $220,000 to $211,500, a -3.8% decline. The average sold price per sq. ft is down from $111.81/sf to $101.08/sf. Year to date, there have been 6 sales versus 13 in 2009. The average days on the market has increased from 62 days in 2009 to 83 in 2010, but still under a 90 day market, which is good news.

To Watch This Video Update, Visit: http://www.youtube.com/watch?v=7vQC4RUMD_c

http://denhamspringsappraisers.com/- Denham Springs FHA Appraisers Report On Easterly Lakes Subdivision 70706

Solds from 12/12/2006 to 12/12/2007 revealed:
Average Sales Price: $243,092
Average Sold Price Per Sq. Ft.: $112.94
Median Sold Price: $235,000
Low Sales Price: $192,000
High Sales Price: $360,000
Average # of Days On Market: 63
# of Sales: 13

Solds from 12/12/2007 to 12/12/2008 reveals:
Average Sales Price: $243,670
Average Sold Price Per Sq. Ft.: $109.66
Median Sold Price: $229,450
Low Sales Price: $199,000
High Sales Price: $315,000
Average # of Days On Market: 135
# of Sales: 10
Listing Price To Sales Price Ratio Has Been: 97.74%

Therefore, based on the median sale price barometer (the barometer used by the NAR National Association of Realtors) within Easterly Lakes, the market direction appears to be decreasing slightly. The average sales price has increased by +$578, median sales price decreased by -$5,550 and average sold price per sq. ft. has decreased by -$3.28/sf.

Easterly Lakes data presented with the permission of the GBRAR.

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 16 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

Fax: 1-866-663-6065

fastvalue2@cox.net

http://www.denhamspringshomeappraisals.com