Denham Springs Housing News: South Point Subdivision Denham Springs 2011 Housing Numbers.
South Point Subdivision Denham Springs 2011 Housing Numbers by Bill Cobb and Accurate Valuations Group.
Hi Bill Cobb, you’re a local Home Appraiser with Accurate Valuations Group 225-293-1500. I understand you just completed a home appraisal in my Denham Springs Subdivision, South Point, last week.
Yes Jill, that’s correct. You know, that’s a very large subdivision with how many homes. Like 700 Homes.
Yes. Bill, value wise how is my subdivision doing during this local housing market correction. I heard South Point values were down more than Woodland Crossing and other similar subdivisions.
Yes Jill, 2011 was the year of correction where GBR home values finally corrected from Post Hurricane Katrina highs. Based on a recent YouTube video from Livingston Parish Tax Assessor, Jeff Taylor, a majority of Western Livingston Parish has experienced home price declines. South Point continues to decline from 2008 highs when the median sales price was $151,500. From 2008 to 2011 Year To Date, median sales prices declined to $151,500 and now $129,000 in 2011. Average Sales Price has declined from $93/sf in 2009 to just $83/sf in 2011 based on 31 sales. So sales aren’t slowing down.
Wow Bill. South Point is still correcting. Bill Cobb Appraiser, thank you so much for your insight into local housing trends. I now better understand what’s taking place in my subdivision! If I need a home appraisal in the future, how do I contact you.
NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2008 to December 31, 2011. This information was extracted on January 16 2012. This video is based on analysis of local housing numbers and trends.