Glenwood Estates Subdivision Denham Springs Flood Update 2017

Glenwood Estates Subdivision Denham Springs Watson Flood Sales Update May 26 2017

denham-springs-floodOther Western Livingston Parish flood updates can be found here: http://www.denhamspringsappraisers.com/category/flood-study/

Yes, Glenwood Estates Subdivision did flood during the “Great Flood” of August 12-15, 2016, and flooded horribly to a height between 4 to 6 feet I’ve been told by a family from church who live in Glenwood and witnessed aftermath, see flood water level in the photo below with yellow arrow pointing to water height. I didn’t realize just how close Glenwood Estates was to the Amite River until I looked at the aerial maps and witnessed such destruction. When the Amite River reached 46.2 feet, the water had to go somewhere.

glenwood-estates-flooding

Glenwood-estates-amite-river-aerial-map

Here’s a collage of flood damaged homes I took after the great flood.

glenwood-estates-flooding-2016

Total Number of Post Flood Sales: 18
Since the flood, there’s been 18 GBRMLS home sales within Glenwood Estates of flood damaged homes from $65,000 to $99,280. On average, these sold for $57 per square foot and $73,000.

Number of Post Flood Renovated Sales: 3
And, there’s only been 3 sales of renovated homes from $153,000, $160,000 and $169,900, not the comeback some were expecting. However, it indicates many chose to remain in their homes and repair them, which is a huge positive for Watson and Glenwood. On average, these sold for an absolutely mind blowing $123 per square foot and $160,000 when considering how badly this subdivision flooded, up to 5 and 6 feet of flood water sweeping some cars into backyards. Pre-flood, homes were generally selling for $120 per square foot and $159,000. So, buyers are paying MORE for these homes post-flood than they did pre-flood.

Number of Post Flood Renovated Listings: 3
There’s 2 active listings and 1 under contract listing offered from $159,900, $169,999 and $180,000, on aveage for $136 per square foot and $169,999.

The $180,000 listing for only 1,265 square feet or $142 per sq. ft. is absolutely INSANE, and I certainly wouldn’t recommend buyers pay near that much for a rebuilt home in a first time home buyer type subdivision, no matter how low inventory is or becomes.


This is a photo collage of what Glenwood Estates homes normally look like

glenwood-estates



Data Source: Based on information obtained from the Greater Baton Rouge Association of REALTORS / MLS from periods 1/1/2015 to 05/26/2017 and extracted on 05/26/2017.

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