Published: November 15, 2011
Filed Under: Market Trends
Louisiana’s residential real estate market showed a significant increase in sales activity during the third quarter, with sales up 20.2% over the third quarter of 2010, according to Louisiana Realtors. Year to date, the number of houses sold in the state is up 2.7% over last year. “Our market has generally followed the national trend over the past year, but our employment numbers have held stronger than the national average, and real estate activity now seems to be bouncing back from the ongoing effects of a slow economy and the BP oil spill,” says Louisiana Realtors President Malcolm Young. While sales were up, the average sale price slid 0.9% in the third quarter to $184,971, compared to the same period in 2010. Nonetheless, the average sale price was up 1.5% compared to three years ago. The Greater Baton Rouge market showed the greatest increase in sales activity in the state, with home sales up 31.9% over the third quarter of last year. The Houma-Thibodaux metro area posted a 26.8% sales increase on the quarter, while Lafayette saw a 24.3% increase, greater New Orleans a 21.3% increase, Lake Charles a 21% increase, Monroe a 19.4% increase, and Alexandria a 11.6% increase. The northwest Louisiana market, which had cooled some in the second quarter, remained flat in the third quarter. Sales in the Shreveport-Bossier area were down 0.9% on the quarter.
Filed Under: Just Listed
You have to see this beautifully updated home in Oak Hills Place. All new kitchen cabinets, granite tile counter tops, stainless steel appliances, light fixtures, and ceramic tile floors. The master suite has a luxurious jetted tub, new tile, and new fixtures. Even your guests have a updated bath with a new sink, counter top, and fixtures. There are new raised panel doors, fluted and rosette window and door trim, and crown moldings throughout. Each bedroom has a walk-in closet and the master has additional closet space in the adjacent dressing area. The windows have been replaced and the architectural shingle roof is just 4 years old. The home has a spacious yard, storage area, and covered rear patio for outdoor entertaining. All this is located minutes from Perkins Rowe, the Mall of Louisiana, the Surgical Specialty Center, and The Neuromedical Center and is accessible from Highland, Perkins, or Siegen.
Published: October 30, 2011
Filed Under: Just Listed
Yesterday I spent the day listing a home in Azalea Lakes. I just had a take a movie of the backyard view of the lake. The home is offered at $217,000. Call me for details and check out the view!
Published: October 6, 2011
Filed Under: Market Trends
What’s most important to today’s homebuyers? For this and other stories, listen to News You Can Use from KW.
Published: September 13, 2011
Filed Under: Market Trends
It seems that every day we get bombarded with negative news. OK – things have not been great, but the sky is not falling and it looks like low interest rates are at long last helping our real estate market. For those of you who know me from my “pre real estate life” you know I’m one good market analyst. NOW would be a really good time to list your home. Take a look at the stats below.
Home Sales are Picking Up
Home sales are seasonal. The number of homes sold tend to bottom out in January and peak in June and July as families complete their moves before the school year begins. And, while we were off to a slow start this year, the past few months have been good. In fact, August sales in areas 4, 5, and 6 put in their strongest showing in 3 years. (August 2009 – 287 homes sold, August 2010 – 229 homes sold, August 2011 – 302 homes sold).
What I think is really important about this is that the improvement in home sales has been accomplished without additional tax credits. Yes, they were great and they helped us sell homes in the Spring of 2010. But, they didn’t help long term. They just shifted demand. What we are seeing now is different. I think it’s the low interest rates. I just can’t imagine it getting any better than this for a home buyer.
Home Prices Are Holding Steady
From month to month, the average price of a sold home in the area is going to fluctuate. What’s noteworthy about home values in areas 4, 5, and 6 is that despite some bumpy economic times, our home values have remained relatively steady. Compare Baton Rouge to what’s happened in cities in California and Florida. We have so much to be thankful for here. And, I think about that every day.
Inventory Levels are Dropping
While the number of homes sold and the average price is nice to know, what matters most when you list your home for sale is the competition: How many homes are available that are similar to yours? We tend to look at historical data because that’s what appraisers must use in determining home values. But, the buyer for your home can’t buy a home that is already sold. They choose from the existing inventory.
If you’re thinking about selling your home, let’s talk about what happening in your neighborhood.