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Denham Springs & Walker Market Comparison Study From Periods 6/1/2007-12/31/2007 to 1/1/2008-8/21/2008
8/21/2008 - Time To Do Some Number Crunching.
By Bill Cobb - Accurate Valuations Home Appraisal Group
Article with Graphs can also be viewed @ http://denhamspringsappraisers.com/
Last Thursday, The Advocate Newspaper published an article from the National Association of Realtors that said the Baton Rouge metropolitan area's 2nd quarter median home price fell to $164,000 from $174,700 a year ago. However, the local Realtors' leadership said on Friday its data showed the figure increased to $176,000. On Saturday, the NAR issued a correction concurring with GBRAR. Median price is the NAR's barometer being used - Median means that half the homes sold were below that amount and half were above that amount. Yes, our market is slower, but our median home price has not dipped. A comparison between EBRP in July 2004 shows 140 sales versus only 94 sales for July 2008. So, yes, we are now in a slower market, but home sales are steady and inspire confidence in our local markets.
Saturday 8/16/08, The Advocate published what the Livingston Parish Board of Realtors see as a possible error, that Livingston Parish homes sales dropped a steep 39 percent when comparing totals from July 2007 and July 2008.
Sunday 8/17/08, WAFB.com published an article about 45 homes priced over 1 million dollars on the market in Greater Baton Rouge. The article stated that Country Club of Louisiana sales were down 50% from 1 year ago. They also interviewed an influential local developer who said Baton Rouge's darkest days would arrive in 12 to 18 months from now and that would be the time to buy. Will Baton Rouge really see its darkest days in 12 to 18 months? ...........only time will tell.
Saturday 8/23/08, The Advocate published, " Livingston permits drop 74 percent - The number of permits issued to build new homes dropped almost 75 percent in the past 18 months, according to data from Livingston Parish government".
After these 4 recent articles, I began to wonder if the local media outlets were trying to promote hysteria in our local market just as the national media is stirring the national hysteria over the housing picture - with a large, irresponsible spoon in some cases. Do we now have a negative, speculative press in our local area? Is the real estate market in Western Livingston Parish really that bad - as compared to the national housing market? As a local home appraiser with these questions swirling in my mind, I picked up my HP12C and went to work doing some serious number crunching.
The following reveals my discoveries:
Search Parameters Defined. Time periods used are from 6/1/07 to 12/31/2007 and 01/01/2008 to 8/21/08 because The Advocate/NAR article used July 07 and because around 8/2007 is when the mortgage meltdown really began to happen. It's important to capture the market picture after the mortgage meltdown began. To go back to 1/1/07 to 12/31/07 would use a period of time when the market was higher (post Katrina) and the mortgage meltdown wasn't really a factor for 7 of those 12 months of that period of time. Some subdivisions were not added to this study, such as Plantation Estates, because they didn't have enough sales between these 2 periods of time to draw a reliable conclusion. Also, any potential REO sales were excluded from this study.
Denham Springs 70706 - generally the area above Lockhart Road and north into Watson. A representative sample of Ten (10) residential subdivisions were studied comparing average sold price, median sold price and average sold price per sq. ft.. Remember - the NAR's barometer for market direction is "Median" sales price. The results of this study showed Denham Springs 70706's median sales price increased +$9,903, average sales price increased +$4,562 and the average sold price per sq. ft. decreased by only -$0.54 cents.
Denham Springs 70726 - generally the area below Lockhart Road. A representative sample of Twelve (12) residential subdivisions was studied. The results of this study showed Denham Springs 70726's median sales price increased +$3,194, average sales price increased +$576 and the average sold price per sq. ft. decreased by -$2.60.
Walker 70785. Walker has experienced the most decline - albeit very modest. A representative sample of Seven (7) residential subdivisions was studied. The results of this study showed Walker's median sales prices decreased only -$193, average sales price decreased -$1,181 and the average sold price per sq. ft. decreased by -$1.23 cents. It would be reasonable to say that the Walker market is holding fairly steady and shows only a minor dip in home values.
In light of some of the bleak pictures read concerning those pockets of doom in the national housing market (California, Florida, Georgia, Ohio, Michigan and Arizona) , it's appropriate to conclude that Greater Baton Rouge and in Livingston Parish are a blessed population . In some cases, we have increased home values and in others, we are remaining steady.
NOTE: Total Change is derived by dividing the total by the # of subdivisions.
70706
|
Subdiv. Name |
6/07-12/07 Average Sales Price |
6/07-12/07 Median Sales Price |
6/07-12/07 Average $ Per Sq. Ft. |
2008 Average Sale Price |
2008 Median Sales Price |
2008 Average $ Per Sq. Ft. |
Average Sales Price Change |
Median Sales Price Change |
Average Sq. Ft. Change |
|
Acadiana Pl |
162,652 |
160,000 |
113.14 |
163,471 |
160,000 |
111.38 |
+819 |
0 |
-$1.76 |
|
Beau Chen |
135,160 |
133,400 |
104.47 |
130,850 |
131,500 |
109.41 |
-4,310 |
-$1,900 |
+4.94 |
|
Crestwood |
136,603 |
136,500 |
110.53 |
137,717 |
136,250 |
110.25 |
+1,114 |
-250 |
-0.28 |
|
EagleRidge |
139,160 |
138,000 |
109.76 |
141,975 |
141,400 |
111.02 |
+2,815 |
+3,400 |
+1.26 |
|
Easterly Lk |
245,280 |
224,900 |
114.27 |
263,780 |
282000 |
110.03 |
+18,420 |
+57,100 |
-$4.24 |
|
Fountnbleau |
179,033 |
176,950 |
105.83 |
177,640 |
179,400 |
102.20 |
-1,393 |
+2,450 |
-3.63 |
|
Glenwd Est |
146,870 |
143,000 |
110.22 |
150,956 |
150,000 |
110.39 |
+4,086 |
+7,000 |
+0.17 |
|
Liv Ok Land |
212,862 |
219,900 |
114.63 |
205,717 |
211,750 |
107.15 |
-7,145 |
-8,150 |
-7.48 |
|
Oak Hills |
218,975 |
212,500 |
113.82 |
248,000 |
248000 |
113.80 |
+29,025 |
+35,500 |
-0.02 |
|
Otts Cove |
145,362 |
144,311 |
104.46 |
147,550 |
148,200 |
106.57 |
+2,188 |
+3,889 |
+2.11 |
|
Total Change |
|
|
|
|
|
|
+$4,562 |
+$9,903 |
-$0.54 |
70726
|
Subdiv. Name |
6/07-12/07 Average Sales Price |
6/07-12/07 Median Sales Price |
6/07-12/07 Average $ Per Sq. Ft. |
2008 Average Sale Price |
2008 Median Sales Price |
2008 Average $ Per Sq. Ft. |
Average Sales Price Change |
Median Sales Price Change |
Average Sq. Ft. Change |
|
Aud. Trace |
196,633 |
200,000 |
113.09 |
195,700 |
195,750 |
112.87 |
-933 |
-4,250 |
-0.22 |
|
Carter Hills |
158,712 |
163,000 |
111.32 |
157,750 |
157,750 |
109.62 |
-962 |
-5,250 |
-1.70 |
|
Forest Ridg |
237,946 |
233,700 |
90.96 |
228,414 |
240,000 |
90.74 |
-9,532 |
+6,300 |
-0.22 |
|
Grays Crk |
202,871 |
202,630 |
101.77 |
205,223 |
205,495 |
99.96 |
+2,362 |
+2,865 |
-1.81 |
|
Greystone |
429,127 |
426,000 |
167.04 |
454,043 |
460,000 |
156.80 |
+24,916 |
+34,000 |
-10.24 |
|
Plant Park |
107,100 |
111,900 |
92.61 |
104,738 |
104,000 |
91.06 |
-3100 |
-7900 |
-1.55 |
|
Shadow Sp |
134,722 |
136,000 |
92.32 |
131,329 |
131,000 |
83.66 |
-3,393 |
-5,000 |
-8.66 |
|
Sth Haven |
228,430 |
217,800 |
96.35 |
220,200 |
226,000 |
92.99 |
-8,230 |
+8,200 |
-3.36 |
|
Sth Point |
147,362 |
146,500 |
92.64 |
149,704 |
154,900 |
92.56 |
+2,342 |
+8,400 |
-0.08 |
|
Westm Est |
159,823 |
161,350 |
90.11 |
158,829 |
158000 |
90.23 |
-1,823 |
-3,350 |
+0.12 |
|
Woodl Crs |
151,578 |
154,900 |
91.15 |
156,781 |
159,000 |
87.99 |
+5,203 |
+4,100 |
-3.16 |
|
Willow Pt |
181,351 |
182,450 |
113.90 |
181,415 |
182,660 |
113.59 |
+64 |
+210 |
-0.31 |
|
Total Change |
|
|
|
|
|
|
+$576 |
+$3,194 |
-$2.60 |
70785
|
Subdiv. Name |
6/07-12/07 Average Sales Price |
6/07-12/07 Median Sales Price |
6/07-12/07 Average $ Per Sq. Ft. |
2008 Average Sale Price |
2008 Median Sales Price |
2008 Average $ Per Sq. Ft. |
Average Sales Price Change |
Median Sales Price Change |
Average Sq. Ft. Change |
|
Collins Pl |
260,093 |
252,000 |
124.91 |
251,644 |
254,950 |
120.07 |
-8449 |
+2,950 |
-4.84 |
|
Driftwood |
159,450 |
162,450 |
105.93 |
152,617 |
155,000 |
100.35 |
-6,833 |
-7,450 |
-5.58 |
|
Duff Villag |
141,143 |
140,650 |
105.31 |
139,156 |
139,950 |
103.81 |
-1,987 |
-750 |
-1.50 |
|
Lk Fennwd |
197,300 |
187,900 |
111.76 |
196,667 |
218,000 |
115.59 |
-633 |
+30,100 |
+3.83 |
|
Spring Lak |
183,678 |
184,900 |
103.81 |
187,738 |
185,250 |
97.84 |
+4,060 |
+350 |
-5.97 |
|
Three Laks |
238,343 |
250,000 |
111.64 |
247,985 |
231,000 |
116.63 |
+9,642 |
-19,000 |
+4.99 |
|
The Mdws |
145,617 |
147,450 |
104.94 |
141,570 |
139,900 |
105.43 |
-4,070 |
-7,550 |
+0.49 |
|
Total Change |
|
|
|
|
|
|
-$1,181 |
-$193 |
-$1.23 |
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Open Market
Second Saturday of Each Month
7:00am-2:00 pm
ACLP Jazz Festival 2008- A fun festival for all that features local and regional jazz artist. Also, the festival has several booths set up with: health and safety information and good food. They also offer an art show and a car show. It's fun for the whole family. (April)
Canine Fun Day- This is a FFA Fundraiser. This fun day is held at the Continental Kennel Club in Livingston, La from 10:00 am- 4:00 pm on Saturday, April 26th, 2008.
Livingston Parish Farmers Market
Open Every Saturday
398 Herbert Hoover Blvd.
Tickfaw 200- For more information please visit: www.dundeeproductions.com. This is held in the swamps of Louisiana on May 3, 2008.
Annual Living History Civil War Re-enactment- This takes place the second week in March 7,8,9 2008.
Annual Spring Fair/ Arts & Crafts Day- Held at the Tickfaw State Park. This will take place March 15,2008 in Springfield, La.
2nd Annual Lake Jam- This will take place on the sand bar of Maurepas north of the Blind River in the southwest quadrant. It will be held on May 10, 2008 at 11:00 am.
2nd Annual Kaitlin Aydell Scholarship Benefit- This is a jambalaya cook off contest. The entry fee is $55 and starts on May 17th, 2008. It will be held at the Moonlight Inn French Settlement.
The Livingston Parish Country & Gospel Jubilee - "Kids Go Classic Country". This is held on May 17th, 2008. The doors will open at 5:30pm and the show starts at 7:00 pm. Tickets can be purchased at the door. For more information, please visit: www.lpcjubilee.com
Relay For Life "Wild Hogs"-This is a motorcyle poker run. It will be held on Saturday, May 17 2008. $25 for drivers and $10 for passengers. Registrations starts at 8:00 am at the Mariner's in Port Vincent. For more information call (225)667-8308
Relay For Life- This will be held June 13, 2008. Relay For Life will be the host for several games, activities and contests. There will be great food including: hot dogs, hamburgers and good ole jambalaya. For more information call (225)667-8026
Flag Day- Denham Springs offers a flag day. It's Saturday, June 14th at 9:00 am. It will be held in the Hancock Bank parking lot with a reception to follow.
4th of July Fireworks- Denham Springs really knows how to celebrate 4th of July. Come see the beautiful fireworks on July 3rd at the Fayard's Field.
"Honor America Day"- Let's honor America on July 4th. This is the annual Fourth of July event. It will be held at Train Station Park in Denham Springs. For more info, please call (225)664-1168
Business Window Painting Contest- Come see Denham Springs businesses show their creativity. This will take place September 20th. The winners will be announced September the 27th.
Scarecrow Contest- Just in time for the fall, Denham Springs will hold a scarecrow contest. This will be on Saturday, September 27th from 9:30am-11:00 am. Sorry adults, this contest is only open to first grade -twelfth grade. It will be held at Town hall with a wonderful reception to follow.
Livingston Parish Fair- Come enjoy the fun at the fair. The fair runs October 6th-13th. It takes place at the Livingston Parish Fair Grounds. For more info, please call (225)686-1333
Hungarian Harvest Dance- This will be held on October 6, 2008 at the American Legion Hall Post 258, Hwy 43 Albany/ Springfield Rd at 5:00 pm.
Echo's of The Past- The rehearsal for Echo's of The Past will be held Friday, October 24th and filming. Saturday, October 25th Echo's will be held from 6:00 pm-8:00pm at the Springfield Cemetery.
Springfield Christmas Parade & Mini Christmas Park- This will be held on Monday, December 1st at 7:00 pm.
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Denham Springs Elementary
306 N. Range Ave.
Denham Springs,
(225)665-5855
Denham Springs High School
1000 N. Range Ave.
Denham Springs, La
(225)665-8851
Denham Springs Jr. High
401 Hatchell Ln.
Baton Rouge, La
(225)665-8601
Freshwater Elementary School
1025 Cockerham Rd.
Denham Springs, La
(225)5371
Levi Milton Elementary School
31450 Walker N Rd.
Denham Springs, La
(225)664-9711
Lewis Vincent Elementary School
7686 Vincent Rd.
Denham Springs, La
(225)665-8198
Live Oak Elementary School
35194 Old Hwy 16
(225)665-6702
Live Oak High School
35086 Hwy 16
Denham Springs, La
(225)665-8858
Live Oak Middle School
8444 Cecil Dr.
Denham Springs, La
(225)664-3211
Northside Elementary School
1090 Robbie St.
Denham Springs, La
(225)664-4223
South Live Oak Elementary School
8400 Cecil Dr.
Denham Springs, La
(225)667-9330
South Walker Elementary
13745 Milton Ln
Walker, La
(225)66509446
Southside Elementary School
1129 Range Ave.
Denham Springs, La
(225)665-5500
South Side Jr. High
26535 Hwy 16
Denham Springs, La
(225)664-4221
Walker Freshman High School
13443 Burgess Ave.
Walker, La
(225)664-0243
Walker High School
12646 Burgess Av.
Walker, La
(225)665-9926
Westside Junior High School
12615 Burgess Av.
Walker, La
(225)665-8259
Doyle Elementary School
29285 Range Rd.
Livingston, La
(225)686-2416
Doyle High School
20480 Circle Dr.
Livingston, La
(225)686-2318
North Corbin Elementary
32645 N. Corbin Rd.
Livingston, La
(225)686-9169
North Corbin Jr. High
32725 N. Corbin Rd.
Livingston, La
(225)686-2038
Are You Looking For A Fun, Professional Real Estate Agent?
Please Give Me A Call!
Lindsay Pendleton
Baton Rouge & Denham Springs Real Estate Agent
(225) 362-0437
www.ForSaleByLindsay.com
Lindsay@ForSaleByLindsay.com
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Denham Springs-/WatsonI just love good ole Denham. It's really come a long way. There seems to be a lot of new construction going on in Denham. The good thing about Denham is that you can get a really beautiful house for much less than you could in Baton Rouge.There are about 10,000 residents living in Denham Springs.
The best thing about Denham Springs is the school district. I have heard over and again that they have awesome schools. One of the great schools I have heard about is Live Oaks.I've met several parents that want to move to Denham just to get into the Live Oaks School District.Here are some neighborhoods that are in Denham:
Greystone
South Point
Crystal Lakes
Rural Tract
Woodcrest
Easterly Farms
Walker- To me, Walker is like a mini-Denham. It's also come a long way and it steady growing.There is a new area around Walker called Juban that is starting to boom. There are some really nice homes there that I think are really affordable. There are several new subidvisions popping up in Walker and Juban.If you really like country living, then you would probably love Walker and Juban.

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