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Don Stern ~ Greater Baton Rouge Real Estate

Baton Rouge, LA: University Club Market Analysis

Baton Rouge, LA: University Club Plantation

Baton Rouge Subdivision - University Club The University Club Plantation subdivision in Baton Rouge is a golf community located off Nicholson Drive (Hwy 30) in southwestern Baton Rouge near the Iberville parish line. The golf club is private and was created for the benefit of LSU Athletics. It is the home course for the LSU men's and women's golf teams.

Nestled among the greens are high-end luxury homes primarily in the country french architectural style.

Home prices in the subdivision have continued to rise since homes were first sold in 2003. In 2008, however, the average price of a previously occupied home dropped rather significantly but that average is calculated on only five home sales for the year. Home sales during the peak selling months may bring that average up.

Overall, the absorption rate so far in 2008 is already nearly at the level of 2007 and the best selling months are still ahead of us. It is possible that there will be record sales during the year. On the other hand, there is a significant over supply of homes in the subdivision making it a buyer's market.

Here is a list of currently available homes in this fine subdivision. Please call me at (225)413-3624 if you'd like additional information or to schedule a private tour.


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

Contact me via e-mail or call me at (225) 413-3624 for more information.

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©2008 by Don Stern - All Rights Reserved

Ascension Parish Real Estate Market Update - March 2008

Ascension Parish Market Analysis - March 2008 Update

The following analysis is based upon data extracted from the Greater Baton Rouge Association of Realtors MLS database. The data extracted were representative of home sales between January 1, 2003 and March 31, 2008 and current inventory of detached single family dwellings.

Home sales in the parish are more or less normal. We can see that unit sales have risen and should continue to rise as we enter the peak selling season of April through September.


Average home prices are holding in both the new home and re-sale market segments although relatively flat for the past couple of years in the re-sale segment.

In terms of unit sales, the re-sale market segment is on pace to equal or exceed 2007 levels.

Overall, the given the monthly absorption rate for 2008 (based upon only three months of data) shows us that there is a 6.4 month supply of homes in this market segment. If one segments the data by price range you can see that the inventory selling below $200K accounts for more than 57% of home sales and, at current inventories is experiencing a seller's market with less than a for month supply of homes. As the price exceeds $200K, sales aren't keeping pace with demand and it is a buyer's market. As the price increases the inventory situation worsens.

After months of bad news for homebuilders, there is finally a bright spot. The drop in unit sales for new homes has turned the corner and we saw an increase in new home sales for the Month of March. While still lower than in previous years, seasonality is kicking in and we will probably begin to absorb some of the excess inventory at a faster pace.

In some price ranges, namely homes under $200K, supply is more or less matching demand. In the higher price ranges there is still excess inventory. Savvy buyers might be able to take advantage of this and locate a bargain. So far in 2008, homes selling in the $200K-300K price range have accounted for almost 54% of home sales.

If you have any questions about this analysis or would like to request additional information then please feel free to contact me.


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

Contact me via e-mail or call me at (225) 413-3624 for more information.

Don Stern Realtor Blog Subscription

©2008 by Don Stern - All Rights Reserved

Prairieville, LA: Manchac Harbor Subdivision Market Analysis

Manchac Harbor Entrance

Manchac Harbor is a subdivision located in Prairieville, LA which features homes in both the new construction and re-sale market segments that are generally priced in the $300's.

The subdivision is located off of Hwy 42 approximately three miles from Airline Hwy.  It featurs homes mostly in the French Country architectural style.

The following market analysis is based upon data extracted from the Greater Baton Rouge Association of Realtors MLS database.  The data extracted were for detached single family homes sold between January 1, 2003 and February 29, 2008.  Current inventory was set at the time of data extraction.

Manchac Harbor Average Home Prices

We can see from the chart above that home prices have continued to rise although no sales had yet been recorded by 2/29/08 to see if the trend continued.

Manchac Harbor New Construction Unit Sales

Despite the Concept Development fiasco which stalled home sales in the 3rd filing of the subdivision and impacted 2005 home sales, we can see that unit sales have been relatively steady selling about two new homes every three months.

Manchac Harbor Absorption Rate by Price

As elsewhere in the parish, this subdivision suffers from an oversupply of new homes priced over $350K possibly creating opportunities for a savvy home buyer.

Manchac Harbor Absorption Rate by Size

Although homes in the 2500-2999 living area range accounted for nearly half of 2007 home sales, the current inventory of these homes represents almost eleven months supply if 2008 new home sales become similar to 2007 home sales.  As previously pointed out, however, there were no sales recorded for the year as of 2/29/08.

If you have any questions about this analysis, if you would like additional information or you'd like to discuss buying or selling a home then I'd very much like to speak with you.

 


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

Contact me via e-mail or call me at (225) 413-3624 for more information.

Don Stern Realtor Blog Subscription

©2008 by Don Stern - All Rights Reserved

Baton Rouge, LA: Sherwood Forest Subdivision Market Analysis

Sherwood Forest Subdivision Baton RougeThe Sherwood Forest Subdivision is one of Baton Rouge's established subdivisions with most homes being 30-40 years old. The subdivision is located off of Sherwood Forest Blvd. between Old Hammond Hwy. and Florida Blvd.

This post provides and analysis of the real estate market in that subdivision. The analysis is based upon data extracted from the Greater Baton Rouge Association of Realtors MLS database and encompasses data for detached single family dwellings sold between January 1, 2003 and February 29, 2008 as well as active listings at the time of data extraction.

The following chart tracks unit sales in the subdivision. We observe that home sales have slowed to near historic lows for this subdivision.

Sherwood Forest Unit Sales

We are just entering the peak selling season so unit sales should increase substantially.

Sherwood Forest Absorption Rates

While year-to-date absorption rates are lower than in previous years, I'd expect to see absorption rates grow as we enter our peak selling season to at least the levels recorded in 2003 and 2007.

Sherwood Forest $/sq.ft.

Here we can see that prices have grown to historically high levels and appear to be holding. A home in this subdivision sells for an average of $82 per square foot of living area.

Sherwood Forest Days-on-Market

While homes, on average, are currently taking longer to sell than in the year immediately following Hurricane Katrina, the average home is staying on the market under 80 days.


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

Contact me via e-mail or call me at (225) 413-3624 for more information.

Don Stern Realtor Blog Subscription

©2008 by Don Stern - All Rights Reserved

West Baton Rouge Parish Market Information

West Baton Rouge Parish Market Report

West Baton Rouge Parish is located across the Mississippi River from East Baton Rouge Parish. Port Allen is the Parish seat and the largest city therein. Dow Chemical and ExxonMobil are among the parish's largest employers. Traffic on the U.S. Gulf Intracoastal Waterway connecting Texas with Florida flows to and from the Mississippi through the Port Allen lock.

The River Studios project is projected to add 3000 jobs to the area. This is good news for home builders as well as residents wanting to relocate or trade up.

The following is an analysis of the residential real estate market in West Baton Rouge Parish. The analysis is based upon data extracted from the Greater Baton Rouge Association of Realtors MLS database and is represents sales of detached single family dwellings from January 1, 2003 through February 29, 2008.

The previous chart shows the average price of new and re-sale homes in West Baton Rouge Parish for the years 2003 to present. We observe steady growth in the average price of homes in both market segments with the exception of 2008 where there is a significant drop in the average price of a previously owned home. The drop, however, is based upon only three sales so far in 2008 as the next chart indicates and might not indicate a pattern.
The chart above shows the trend of unit sales in the re-sale market from 2003 through to the present. Looking at the six-month moving average, the absorption rate for re-sale homes is at a five year low.
The previous chart shows that the rate of sales in February 2008 is the same as in February 2003 but is significantly lower than sales in February of the intervening years.
New construction sales in WBR parish registered a significant post-Katrina increase as did other area parishes. The six-month moving average of unit sales is still higher than it was prior to hurricane Katrina but both the previous and next charts show that new construction sales have settled back to pre-Katrina levels.

As always, if you have any questions or would like additional information please feel free to contact me directly.


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

Contact me via e-mail or call me at (225) 413-3624 for more information.

Don Stern Realtor Blog Subscription

©2008 by Don Stern - All Rights Reserved