http://www.denhamspringslarealestate.net/ – Livingston Parish Sees Higher Priced Homes Decline In Sales Volume and Pricing!
According to Tom Cook and the Baton Rouge Business Report Weekly this week,
“The largest increase in the volume of sales took place in Livingston Parish in the $100,000 to $150,000 price range. From March 2008 to February 2009, there were 107 sales in this price range. From March 2009 to February, there were 221 sales in this price range. This represents an increase of 106%. Homes in the $200,000 to $250,000 price range decreased in volume by nearly 9% from March 2009 to February. Home sales in the $200,000 to $250,000 price range fell 22% from March 2008 to February 2009.”
This is one point I fully agree with and see in this market. The Denham Springs and Walker markets from $200,000 to $300,000, where new home pricing is above $115/sf, have been way oversupplied for at least the past year. This is one of the reasons that Juban Parc became the “New Juban Parc” because Denham Springs isn’t really a higher end housing market. In fact, since 4/2009, only 13% of home sales have been above $200,000. The developers and builders both expected too high of potential sales prices in the western Livingston Parish market, especially in the Walker market. This could be one reason that Autumn Run is being finished out by Vicknair Builders.
82 Competing Listings Is An OverSupply!
Currently in the GBRAR MLS, there are 82 competing listings in this price range. The search parameters were: $200,000 to $300,000, 1600sf to 3000sf, Ages New to 4-5 Years Old, Extracted on 4/14/2010.
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Yesterday’s Baton Rouge Business Report Weekly Real Estate Update
