2009 Mid Year Market Snapshot ~ Ascension Parish Friday, Jul 24 2009 

Houses

I wanted to post a snapshot of how the first half of 2009 compared with the first half of 2008.  Take into account that in the first half of 2009 we had experienced the stock-market collapse, and banking debacle and the general deterioration of the economy.  This makes for some interesting interpretation of these numbers.

Monthly sales in the first half of 2009 were 599 units.  Up from 587 units in 2008.

The average monthly volume for the first six months of 2009 was $21,256,889. Down 5% from the first six months of 2008 at $22,245,384.

The average sales price in the first half of 2009 was $212,553.  This was down  7% from $227,648 in 2008.

Average days on the market in the first half of 2009 was 100 days.  This was only up a little from 97 days in the first half of 2008.

Average current inventory for the first of 2009 was 656 homes.  This was down from 821 homes in 2008.

What does all of this mean?  Here’s my take… We sold more homes the first part of 2009 than in 2008.  In my opinion, this is great!  The average sales price is down…yes.  I attribute that to the fact that not a lot of the larger ($500,000 +) homes are selling.  Take a few of those out of the equation and the average sales price goes down.  We are still above $200,000 for average sales price.  Not a lot of other states can say that.  The current inventory is down…this means that there isn’t a lot to choose from for the buyers.  If you have your home on the market. Make sure it is in great shape and priced well.  Buyers don’t have the inventory of last year but they still have inventory to look at and compare to your home.  I am personally experiencing buyers that want to move in and start living.  They are not willing to spruce up/update/make repairs when they get in.  It is taking all of the monies they have to get into their new home.  They are passing over homes that need a little work for the ones that are in tip top shape.

Our numbers are a little down from last year.  Are they devastating?  Absolutely not!  Remember to factor in the things happening in and around our area during these periods when you are interpreting the numbers for yourself.  Ascension Parish housing market is still strong and I for-see it to continue to be strong and climb.

These stats are for areas 90,91 & 92 in Ascension Parish. They include the months of January – June for 2008 and 2009.  Information was obtained  from Greater Baton Rouge MLS.  They include only single family dwellings.  Mobile home and land sales are not part of these numbers.  If you would like information on either of these, feel free to let me know.

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June 2009 Market Snapshot Thursday, Jul 9 2009 

Housing Graph

Ascension Parish Market Stats for June 2009

Monthly sales were 126  units. Comparison to last month: Increase 9%  from 115 units.  Comparison to this month last year: Increase 14% from 108 Units.

Average Sold price was $218,770.  Comparison to last month:  Increased  4% from $210,806.  Comparison to this month last year: Decreased 4% from $227,809.

Current inventory is 4.70 months.  Comparison to last month:  Decreased from 5.29 months.  Comparison to this month last year: Decreased from 7.71months. 

 Average Days on market were 96.  Comparison to last month:  Decreased from 102 days.  Comparison to this month last year: Decreased from 98 days.

 

What does this mean to you as a homeowner?  The number of units sold are up and the current inventory is down.  Houses are moving!  There was a decrease from last year in the average sales price and again,  I attribute that to a correction in the market from the inflated “Hurricane Katrina” sales.  I also attribute the lower average sales price to homebuyers buying homes in a lower square footage range.  The “McMansions” are not as trendy as they used to be.  The average days on the market are in line with last year…this is good, homes are not sitting on the market for an indefinite amount of time.

What does this mean to you as a homebuyer?  It is a great time to buy.  If you are looking to purchase a home and stay there for at least 3 years…now is the time!  Rates are low and if you are a first time homebuyer, the government is offering you a true $8,000 tax credit!

 Having said that, I have a good feeling for our real estate economy. I predict that home sales will continue to rise and values will also rise in the fashion they are intended to. (You know I have the magic crystal ball!)

These stats are for areas 90,91 & 92 in Ascension Parish. Information used from Greater Baton Rouge MLS.  They include only single family dwellings.  Mobile home and land sales are not part of these numbers.  If you would like information on either of these, feel free to let me know.

36303 E Pine Grove Ct :: Manchac Commons :: Prairieville LA 70769 Tuesday, Jul 7 2009 

DSCN2665

 

Nearly new home in Manchac Commons,  36303 E Pine Grove Court

3bedroom/2 bath

1664 sq ft of living area

Wood, tile, carpet and brick paver flooring

New Orleans style courtyard

Granite tile in kitchen on counters and center island

Tray ceiling with crown molding in Master Bedroom

Master Bath features a jetted tub, separate walk in shower and separate vanities

Den is pre-wired for surround sound

Offered exclusively at $220,000

To view additional pictures and more information, go to : http://www.cjbrown.com/RLNet/Listings/ListingDetails.aspx?ListingId=1286359&List=Y