Did Great Flood Send Denham Springs Livingston Parish Home Prices Lower?

Did Great Flood Send Denham Springs Livingston Parish Home Prices Lower? Absolutely…initially! As median sales price chart below illustrates, prices have declined from $165,000 to $156,000 since January 1 2016 because of the $25,000 to $125,000 sales prices of flooded damaged homes. However…see below HOWEVER, sales prices of flooded-renovated Western Livingston Parish homes would blow your mind. It’s as if today’s post-flood home buyers don’t have any context as to what homes were worth pre-flood…and some of the problems inside subdivisions like Shadow Springs. This is in part due to low inventory, not enough homes available to purchase, and lack of homes or apartments available to rent. This is driving buyers to desparation and some are OVER PAYING for local housing. Of the 15 GBRAR MLS sales so far, 11 have sold on average for $13.45 per sq. ft. MORE than pre-sold prices and 4 have sold on average for $6.25 per sq. ft. LESS than pre-sold subdivision prices. This means so far, 73 percent of sales have been positive and above pre-flood prices. Another example is what’s taking place in Richmond Place Subdivision where home sales prices are UP! Are Watson home values higher after the flood? At least Continue reading Did Great Flood Send Denham Springs Livingston Parish Home Prices Lower?

Livingston Parish Home Sales Stats 2013 to 2016

Livingston Parish Home Sales Stats 2013 to 2016 and have Livingston Parish home sales price DECLINED since the flood? Prepare for home price spikes! From 2013 to 2016, Livingstonge home sales have generally increased from 1498 in 2013 to 1947 in 2016 or 30%. The median days on market or time it takes to sell a home has declined from 54 days to 31 days. And, after the flood, flooded-renovated homes are generally selling in under 10 days. Sold price per square foot has risen from $97 in 2013 to $106 in 2016. Includes Detached Single Family, Attached Single Family and Manufactured Housing     Have Livingston Parish home sales price DECLINED since the flood? Absolutely as median sales price declined from $165,000 to $156,000 since January 1 2016 because of the $40K to $100K sales prices of flooded-gutted homes. However, sales prices of flooded-renovated Western Livingston Parish homes would blow your mind. It’s as if today’s post-flood home buyers don’t have any context as to what homes were worth pre-flood…and some of the problems inside subdivisions like Shadow Springs. This is in part due to low inventory, not enough homes available to purchase, and lack of homes or apartments Continue reading Livingston Parish Home Sales Stats 2013 to 2016

Richmond Place Denham Springs Home Prices Increasing in 2017

Bill Cobb Appraiser has released a Richmond Place Subdivision Denham Springs Watson Home Sales Update 2016-2017, Prices Increasing in 2017 Are Watson home values higher after the flood? At least in Richmond Place where it did not flood and those subdivisions competing with Richmond Place style and quality homes, they are higher. With low inventory, the 1998sf Evangeline Meridian PCC plan is listed at $189,900 with 2 pendings. There’s sort of this debate on Facebook about whether home prices are up post flood. To some extent they are, but this isn’t the same run up as the post Katrina market either. In this example comparing median sales price of $164,000 to current $175,950, that’s an increase of 7.2%. HOWEVER, see the chart below showing in May 2015, median sales prices were at $175,000 meaning this increase into 2017 is a recovering market. Have ALL Watson homes increased 7.2% since 12 months ago? I don’t know as it wouldn’t be a fair comparison to compare non-flooded subdivisions with flooded subdivisions. Only time and recovery will determine where prices go from here…and there’s almost no flooded-repaired sales in MLS to know yet.       Richmond Place Home Sales Trends 27 Sales Continue reading Richmond Place Denham Springs Home Prices Increasing in 2017

Crestwood Subdivision Waston Denham Springs home sales trends 2016

Crestwood Subdivision home sales trends are listed below as a result of Livingston Parish home sales research. As far as I know, Crestwood did not flood during the Great Flood of August 2016. Crestwood February 2016 to February 2017 Home Sales Trends 12 Sales from $110,000 to $156,000 Median Sales Price $138,500 Median Sold Price Per Sq. Ft.: $115/sf Average Sold Price: $135,975 Average Sold Price Per Sq. Ft.: $111/sf Homes Sold From $85/sf to $120/sf Average SP/LP% 99% Average Days On Market: 35 Days Average Home Is 3 Bedrooms, 2 Baths, 1,227sf The “Average SP/LP% 99%” or Listing To Sales Price Ratio means the average home sold for 1% less than listing price.         Based on information from Greater Baton Rouge Association of REALTORS®\MLS for period 02/01/2016 to 02/02/2017, extracted on 02/02/2017.

Acadiana Place Subdivision Denham Springs Home Sales 2016

Denham Spring’s Watson’s Acadiana Place Subdivision home sales trends are listed below as a result of flooded home sales research. Yes, Acadiana Place experienced flooding during the August 2016 “Great Flood” and has recovered to some extent. I expect Acadiana Place to make a full recovery and home sales prices to be perhaps higher than pre-flood as long as FEMA does not drastically raise flood insurance premiums. These numbers below primarily took place before the flood.   Acadiana Place February 2016 to February 2017 Home Sales Trends 7 Sales from $130,000 to $211,000 Median Sales Price $181,000 Median Sold Price Per Sq. Ft.: $118/sf Average Sold Price: $179,000 Average Sold Price Per Sq. Ft.: $116/sf Homes Sold From $88/sf to $135/sf Average SP/LP% 99% Average Days On Market: 9 Days Average Home Is 3 Bedrooms, 2 Baths, 1,538sf The “Average SP/LP% 99%” or Listing To Sales Price Ratio means the average home sold for 1% less than listing price. I lik this modification above, a screened carport to enjoy the yard more. Trying to sell a flooded-renovated home? 225-293-1500   Based on information from Greater Baton Rouge Association of REALTORS®\MLS for period 02/01/2016 to 02/02/2017, extracted on 02/02/2017.

Livingston Parish 2016 Home Sales Stats By Subdivision Name

Livingston Parish 2016 Home Sales Stats By Subdivision Name, A Suburb of Baton Rouge. Study includes all residential sales for all types of single family properies in 2016. Study by Bill Cobb Appraiser 225-293-1500 and http://www.denhamspringsappraisers.com Overall in 2016, Livingston Parish real estate experienced a good year with lower inventory forcing increasing prices…until the Great Flood, see chart below. In November 2015, the median sales price was $163,000 which peaked in August at $184,000 only the slide down to $155,000 in November 2016. I believe this correction in home prices could last longer than surrounding Parishes because Livingston was so hard hit by the Great Flood. And, as the experts have stated, it could take up to two years for flood damaged inventory to be repaired and absorbed back into this market. Livingston Parish 2016 Median Home Solds Prices Chart Source: Based on data used with permission of the Greater Baton Rouge Association of REALTORS / MLS from 11/1/2015 to 11/30/2016, extracted on 12/30/2016. Here’s the list of Livingston Parish subdivisions experiencing home sales in 2016, as provided and defined by Greater Baton Rouge Association of REALTORS, along with the statistics of these sales. Pecan Creek Subdivision Correction: A manual Continue reading Livingston Parish 2016 Home Sales Stats By Subdivision Name

Richmond Place Subdivision Denham Springs Louisiana Home Sales Update 2016

Bill Cobb Appraiser recently performed a Denham Springs home appraisal in Richmond Place Subdivision and discovered these housing trends.   May 2015 to May 2016 Richmond Place Home Sales Trends 24 Sales from $108,661 to $193,900 Median Sales Price: $157,250 Median Sold Price Per Sq. Ft.: $91/sf Average Sold Price: $155,978 Average Sold Price Per Sq. Ft.: $89/sf Homes Sold From $69/sf to $104/sf Average SP/LP% 97% Average Days On Market: 80 Days Average Home In Subdivision Is: 1,767 sq. ft. 3 bedrooms, 2 bathrooms The “Average SP/LP% 97%” or Listing To Sales Price Ratio means the average home sale sold for 3% less than listing price.       by Bill Cobb Appraiser 225-293-1500 http://www.denhamspringsappraisers.com/ Denham Springs Home Appraisers YouTube Channel Greater Baton Rouge Real Estate Data Note: Based on information from Greater Baton Rouge Association of REALTORS®\MLS for period 05/01/2015 to 05/26/2016, extracted on 05/26/2016

Crestwood Denham Springs Home Sales Update 2015-2016

Bill Cobb Appraiser recently performed a Denham Springs home appraisal in Crestwood Subdivision and discovered these housing trends.   May 2015 to May 2016 Home Sales Trends 15 Sales from $105,000 to $146,000 Median Sales Price $137,500 Median Sold Price Per Sq. Ft.:$110/sf Average Sold Price: $133,653 Average Sold Price Per Sq. Ft.:$109/sf Homes Sold From $83/sf to $119/sf Average SP/LP% 98% Average Days On Market: 52 Days Average Home In Subdivision Is: 1,233 sq. ft. 3 bedrooms, 2 bathrooms The “Average SP/LP% 98%” or Listing To Sales Price Ratio means the average home sold for 2% less than listing price.       by Bill Cobb Appraiser 225-293-1500 http://www.denhamspringsappraisers.com/ Denham Springs Home Appraisers YouTube Channel Greater Baton Rouge Real Estate Data Note: Based on information from Greater Baton Rouge Association of REALTORS®\MLS for period 05/01/2015 to 05/21/2016, extracted on 05/21/2016.

Paradise Lakes Subdivision Denham Springs Home Sales Update 2015-2016

Paradise Lakes Subdivision Home Sales located in Denham Springs Within Paradise Lakes, there’s only been 1 sale to report on since January 1, 2015 for $242,500 or $109.68/sf being 7381 Lake Meadow Drive with 2,211sf 7/3/2.5. This must have been a very motivated seller because I appraised this home in the past and know it was higher than average quality plus had a $30,000 workshop in backyard with matching architectural style. Photo of this home is below. Paradise Lakes Homes Collage is below.   Below, I’m sharing the GBRMLS home sales trends charts for Paradise Lakes as a historical view.       by Bill Cobb Appraiser 225-293-1500 http://www.denhamspringsappraisers.com/ Based on information from Greater Baton Rouge Association of REALTORS®\MLS for period 01/01/2015 to 06/01/2016, extracted on 06/01/2016

Lakes At Belle Terre Home Sales 2015 Denham Springs Watson

Lakes At Belle Terre Home Sales 2015 Denham Springs Watson   The Lakes At Belle Terre 2015 Home Sales TrendsThirteen Sales from $177,500 to $274,500 Median Sales Price $203,000 Average Sold Price: $206,419 Average Sold Price:$110/sf Homes Sold From $101/sf to $116/sf Average SP/LP% 96% Average Days On Market: 99 Days Average Home Size: 1,873sf The “Average SP/LP% 96%” or Listing To Sales Price Ratio means the average home sale sold for 4% less than listing price.   The Lakes At Belle Terre Current GBRAR Listings: Five Lisitngs from $195,000 to $231,900 Median Listing Price $216,900 Average Listing Price: $214,140 Average Sold Price:$115/sf, from $104/sf to $124/sf Average Days On Market: 59 Days Average Home Size: 1,871sf Of the 5 listings, 2 are under contract and 3 are active listings. Report by Bill Cobb Appraiser 225-293-1500 Denham Springs Home Appraiser Bill Cobb http://www.batonrougeappraisers.com Based on information from Greater Baton Rouge Association of REALTORS®\MLS for period 01/01/2015 to 12/31/2015, extracted on 1/24/2016

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