Live Ascension Real Estate Information

September 8, 2009

Ascension Parish Real Estate - Residential Market Analysis August 2009

Filed under: Market Analysis — admin @ 11:17 am

Ascension Parish Real Estate Market Report

Through August 2009

The following analysis is based upon data extracted from the Greater Baton Rouge Association of Realtors MLS database. Only data for detached single family (DSF) dwellings were considered.

Two thirds of the way through 2009, the market for homes in Ascension parish is quite healthy. My own experience and conversations with other real estate professionals point to
finance as the biggest obstacle in the way of further market expansion. That said, our market is, for the most part, vibrant and has weathered the national economic downturn quite well.

The first four charts below present unit sales information in a variety of ways. The first chart plots unit sales of new homes and previously owned homes on a monthly basis since January 1, 2004. The light green line shows overall monthly sales while the heavy green line shows the six month moving average.

Ascension Parish Unit Home Sales

The next chart aggregates the data by year and, for 2009, the a simple linear projection is made of what 2009 year-end sales will be. Year-to-date sales through August were calculated then divided by 8 months to get the monthly average and then multiplied by 12 to project year-end unit sales. This chart shows that, overall, 2009 should outperform 2008 with 1217 sales versus 1116 in 2008. New construction sales are responsible for the increase with a projected 491 sales versus 359 in 2008. Sales of previously owned homes are projected to be a bit less in 2009, 726 in 2009 versus 757 in 2008.

Ascension Parish Unit Home Sales

The next two charts illustrate monthly sales. The first shows new construction and we see that, as has been typical throughout the year, sales of new construction in 2009 has outperformed the same month in 2008.

Ascension Parish Unit Home Sales

Ascension Parish Unit Home Sales

The next two charts illustrate the absorption of homes in Ascension Parish by price range and compares absorption rates to current inventory to project the months supply of inventory. A market with 5.5 to 6.5 months supply is generally considered a neutral market… The supply and demand are reasonably balanced. A market with less than 5.5 months supply is generally considered to be a Seller’s Market while a market with more than 6.5 months supply is said to be a Buyer’s Market.

The first chart shows the absorption statistics for new construction. Overall, we have a Seller’s Market condition with only 3.4 month supply. In fact, only homes priced over $350K are experiencing a Buyer’s Market. The highest velocity of new home sales is for homes priced between $150K and $200K. Forty percent of all new homes sold in the parish during 2009 have been in this price range.

Ascension Parish Home Absorption - New Construction

In the previously owned market segment, there is overall a 6.7 month supply… just slightly in Buyer’s Market territory. Upon closer examination, however, we can see that this is due to an oversupply of more expensive homes. Homes priced over $300K account for 34% of the inventory but only 14% of home sales. Homes priced below $300K are generally moving well with respect to inventory.

Ascension Parish Home Absorption - Resale Segment

As always comments and/or suggestions for improvements are welcomed.



©2009 by Don Stern - All Rights Reserved

(225)413-3634 phone (225)313-3698 fax

don@thehomevendor.com - email1312

www.TheHomeVendor.com www.DonAndAlishaStern.com
www.LiveAscension.com www.PelicanPointHomes.com

www.WaterfrontPropertyLA.com

August 29, 2009

What’s to Become of Spanish Lake

Filed under: General Information, News, Subdivision Information — admin @ 12:32 pm

Ascension Parish - Spanish Lake

An article in the August 10th issue of the Baton Rouge Businees Report discussed the competing interests of the owners of Alligator Bayou Tours and companies that sell wetland mitigation credits to support development. The article goes on to tell of two pending lawsuits in the parish regarding the basin.

I’ve taken my grandchildren on the Alligator Bayou tour have thoroughly enjoyed the experience. As a Realtor®, I have also benefited from development so I have mixed emotions over the controversy.

 

Spanish Lake, Ascension Parish

Spanish Lake, Ascension Parish

Alligator Bayou Resident

Alligator Bayou Resident



©2009 by Don Stern - All Rights Reserved

(225)413-3634 phone (225)313-3698 fax

don@thehomevendor.com - email1312

www.TheHomeVendor.com www.DonAndAlishaStern.com
www.LiveAscension.com www.PelicanPointHomes.com www.WaterfrontPropertyLA.com

August 19, 2009

Tri-parish New Construction Market Analysis

Tri-Parish New Construction Real Estate Market Report

Through July 2009

This post deals with new construction in the tri-parish (Ascension, East Baton Rouge, and Livingston) area. The data used for this report were extracted from the Greater Baton Rouge Association of Realtors MLS database. Only data relating to detached single family (DSF) homes were extracted. For sales data new construction data were identified as those records having a status of New, Under Construction or Proposed Construction. Current inventory for new construction included only those records having a status of New or Under Construction.

Looking at the next three charts we can see the average selling price per square foot of living area for each of the three parishes. In 2009, new construction in Ascension parish sold for an average of $114.87/sq.ft. which is down 4.6% from 2008 where the price per square foot peaked at $120.37/sq.ft. In East Baton Rouge parish new construction sold for $130.25/sq.ft. in 2009 which is up $1.05 from sales in 2008. Livingston parish saw a modest decline in the price of new construction of $0.48/sq.ft. from a high of $105.05/sq.ft. in 2008 to $104.57/sq.ft. in 2009. A statistically negligible decline.

Ascension Parish New Construction Pricing
Ascension Parish New Construction Pricing

East Baton Rouge Parish New Construction Pricing>
East Baton Rouge Parish New Construction Pricing

Livingston Parish New Construction Pricing>
Livingston Parish New Construction Pricing

The next three charts show the new construction breakdown in each of the three parishes by subdivision.

Ascension Parish Top Selling Subdivisions

Ascension Parish Top Subdivisions

East Baton Rouge Parish Top Selling Subdivisions

East Baton Rouge Parish Top Subdivisions

Livingston Parish Top Selling Subdivisions

Livingston Parish Top Subdivisions

Looking at these three charts we can see that, while the type of home sold in the parish has shifted toward one costing less per square foot, Ascension Parish was home to three of the top five selling subdivisions in terms of unit sales. The top five subdivisions were as follows:

Parish Subdivision 2009 Unit Sales
Ascension Pecan Ridge 34
East Baton Rogue Lakes at Jamestown 33
Ascension Keystone of Galvez 26
Ascension Gateway Cove 21
Livingston Lake at Grays Creek 21

Anyone wishing to discuss this analysis in more detail or to request additional analyses are encouraged to contact me. Additionally, I welcome any comments or suggestions for improvement.



©2009 by Don Stern - All Rights Reserved

(225)413-3634 phone (225)313-3698 fax

don@thehomevendor.com - email1312

www.TheHomeVendor.com www.DonAndAlishaStern.com
www.LiveAscension.com www.PelicanPointHomes.com

www.WaterfrontPropertyLA.com

August 6, 2009

Affordable Home on Hwy. 74 in Gonzales

Filed under: Homes for Sale, Listings, Uncategorized — admin @ 7:05 am

Don Stern | Coldwell Banker Mackey Co. | (225) 413-3624
38528 LA Hwy 74, Gonzales, LA
Starter Home or Investment Property
3BR/2BA Single Family House
offered at $149,900
Year Built 2004
Sq Footage 1,231
Bedrooms 3
Bathrooms 2 full, 0 partial
Floors 1
Parking Unspecified
Lot Size 11,250 sqft
HOA/Maint $0 per month

DESCRIPTION

Five years young, this Acadian style home is perfect as a starter home or as an investment property. Bedrooms and living room have wood laminate floors and the wet areas have ceramic tile flooring. Ceramic tile countertops in the kitchen. Lots of cabinet space and stainless appliances in this eat-in kitchen.
see additional photos below
PROPERTY FEATURES

- Central A/C - Central heat - Walk-in closet
- Hardwood floor - Tile floor - Living room
- Dishwasher - Stainless steel appliances - Laundry area - inside
- Yard

ADDITIONAL PHOTOS


Front

Master Bedroom

Back

Living room

Kitchen

Kitchen
Contact info:
Don Stern
Coldwell Banker Mackey Co.
(225) 413-3624
For sale by agent/broker

powered by postlets Equal Opportunity Housing
Posted: Aug 6, 2009, 4:48am PDT

July 12, 2009

Pelican Point Real Estate Market Analysis - 2009 Mid-Year Report

Pelican Point Real Estate Market Report

2009 Mid-year Report

This mid-year report is the result of my analysis of data retrieved from the Greater Baton Rouge Association of Realtors MLS
database. Only data relating to detached single family (DSF) homes were included. None of the townhome sales were included in this
analysis as they represent a different product. As I have done in the past, I made a distinction between new construction and previously owned (re-sale) homes.

While the projected overall unit sales in Pelican Point are down from 2008, we can see improvement in new construction units sold.
Sales of previously owned homes are down from last year but, at current absorption rates, will be ahead of sales in the pre-Katrina year
of 2004. The following chart illustrates this point.

Ascension Real Estate

Overall, previously owned homes in the subdivision have held their value. The average price per square foot of living area has held
at $121.56/sq.ft. This is about even with 2008 sales but down from the selling prices in the years immediately following hurricane
Katrina. At $121.56, however, homes are selling well ahead of pre-Katrina prices. Homes in Pelican Point are diverse but,
in general, similar homes are on a given street. For that reason, I’ve analyzed the re-sale data by looking at sales by street. The following
chart shows selling $/sq.ft. and unit sales by street.

Ascension Real Estate

The next chart again shows that re-sale prices have held steady between 2008 and 2009. New construction prices, however, have declined
a bit from the high seen in 2008 but have remained higher than the average $/sq.ft. for the years 2004-2007.

Ascension Real Estate

Fewer than 2 homes per month are being sold in the re-sale market segment. With 29 homes currently listed, it is clearly a buyer’s market.
At current absorption rates there is a 15.8 month supply as the next chart illustrates.

Ascension Real Estate

The new construction segment has a 9.6 month supply at the current absorption rate of 0.8 homes per month. Drilling down through price
range, one can see that so far this year no homes over $400K have been sold yet there are four available. I would encourage builders
to refrain from building homes in this price range until the market for them rebounds.

Ascension Real Estate

Comments and suggestions are encouraged. Readers wishing to have a more in-depth discussion welcome to contact me directly.



©2009 by Don Stern - All Rights Reserved

(225)413-3634 phone (225)313-3698 fax

don@thehomevendor.com
- email1312

www.TheHomeVendor.com www.DonAndAlishaStern.com
www.LiveAscension.com www.PelicanPointHomes.com

www.WaterfrontPropertyLA.com

July 9, 2009

Ascension Parish Real Estate - Residential Market Analysis June 2009

Ascension Parish Real Estate Market Report

2009 Mid-year Report

This mid-year report is the result of my analysis of data retrieved from the Greater Baton Rouge Association of Realtors MLS
database. Only data relating to detached single family (DSF) homes were included. As I have done in the past, a distinction was
made between new construction and previously owned (re-sale) homes.

Unit sales have continued to improved as indicated by the next chart. Sales of new construction are projected in 2009 to exceed sales
of new construction in 2008. While recent improvements have been observed, home sales in the re-sale market segment are lagging
behind those in 2008 but have rebounded to pre-Katrina levels.

Ascension Real Estate

The following chart tracks unit sales of new construction by month and year. One can see that new construction sales in 2009 have
exceeded those in 2008 for every month so far this year.

Ascension Real Estate

While off to a slow start, previously owned home sales during June of this year exceeded those of June in 2008 and for every month
except May exceeded the corresponding month in 2004.

Ascension Real Estate

Through June, we can see in the following chart that the average price of previously owned homes sold in the parish have not declined.
The average price of a new home sold, however, has seen a substantial drop.

Ascension Real Estate

The explanation for this drop in the average price of a new home sold is made clear in the following chart which shows new construction
sales by subdivision. Only the top 12 subdivision are shown but these twelve account for nearly 60% of home sales.
It is evident that most new home sales were in subdivisions where homes with a limited number of floor plans and a generally lower
standard of amenities than we have seen in years past are built.

Ascension Real Estate

We have been selling through the inventory of new construction in the parish. The following chart shows that, overall, there is only
a 3.8 month supply of new homes… a seller’s market overall. Looking at absorption data by price range we can see that a seller’s
market condition (less than 5.5 month supply) exists for all price ranges up to $400K. The absorption rate and inventory levels of homes selling for
$400K and up, on the other hand, result in a serious buyer’s market with more than a 20-month supply.

Ascension Real Estate

In the re-sale market segment there is, overall, a 6.4 month supply… a neutral market. Drilling down through the data, we can see
that a seller’s market condition exists for homes selling up to $200K. Over $200K, a buyer’s market condition exists and for
previously owned homes selling for more than $400K there are more than 3 years worth of inventory at current the current absorption rate.

div align=”center”>Ascension Real Estate

Comments and suggestions are encouraged. Readers wishing to have a more in-depth discussion welcome to contact me directly.



©2009 by Don Stern - All Rights Reserved

(225)413-3634 phone (225)313-3698 fax

don@thehomevendor.com
- email1312

www.TheHomeVendor.com www.DonAndAlishaStern.com
www.LiveAscension.com www.PelicanPointHomes.com

www.WaterfrontPropertyLA.com

June 12, 2009

Ascension Parish Real Estate - Residential Market Analysis May 2009

Ascension Parish Residential Real Estate Market Analysis - May 2009

The information presented in this post is based upon data extracted from the Greater Baton Rouge Association of Realtors MLS database.
For the purposes of my analysis, I included data for detached single family dwellings which sold in Ascension parish for the years 2004 through
May 2009. I identified the home sales as either New Construction or Re-Sale because, in my experience, they have distinct characteristics.

The real estate news in Ascension parish is mixed but, in my opinion, generally good news. As the following chart illustrates, seasonality
is taking effect as we move toward the historically favorable summer selling months. Unit sales of previously owned homes, although
lower than last year are at levels similar to pre-Katrina levels.

Ascension Homes Unit Sales

Average home prices have declined as the next chart illustrates. With respect to new home prices, the drop is due primarily to a shift in what
is being purchased rather than a drop in value. More affordable homes are being purchased. The most successful subdivisions are those
which offer a limited number of floor plans with a lower standard of amenities than was the trend a just a few years back.

the average price of a previously owned home has receded somewhat but only about 2-4%.

Ascension Homes Average Prices

Although lower than the years immediately before and after Katrina, unit sales of new homes is improving. In fact, every month in 2009
saw more new homes sold than in every corresponding month of 2008.

Ascension New Homes Monthly Unit Sales

The next chart illustrates the price point of new homes sold during 2009. We can see a dense cluster of homes sold between about $160K and $215K which were
priced at or below $110/sq.ft. of living area. A significant number of homes were also sold at higher prices and price points but the drop
in average price and average price per square foot illustrates the trend toward more affordable homes.

Ascension New Homes Price vs $/sq.ft.

The really good news in the new home market is that inventories are being sold out. We previously reported that at the end of 2008 there was
an 8.2 month supply of new homes in the parish. As the following chart illustrates, that has dropped to 4.2 months as of the end of May.
It is a seller’s market condition in most price ranges. The only area of deep concern is for homes priced at $400K and up where there is
a 20 month supply. While there are five fewer homes in inventory today (20) than there were at the end of 2008, the rate of sales for
these homes has dropped significantly from 2.3 homes per month in 2008 to only 1 per month on average during 2009.

Ascension New Homes Absorption by Price

The re-sale (previously owned homes) market statistics are similar to what was observed at the end of 2008. At that time we reported 385 homes
available representing a 6.1 month supply at the average absorption rate for 2008. As of the end of May, we have 361 homes available representing
a 6.5 month supply at the average absorption rate for 2009. Fewer homes per month are being sold but, as we saw earlier, we are just entering
the peak selling season.

There is an oversupply situation with respect to the higher priced homes. In fact, at current absorption rates there is more than a four year
supply of homes priced at $400K and above.

Ascension Previously Owned Homes Absorption by Price

Readers are encouraged to comment with questions or suggestions for improvement. Anyone interested in exploring the possibility of buying or selling
property is welcomed to call or e-mail1312 me.



©2009 by Don Stern - All Rights Reserved

(225)413-3634 phone (225)313-3698 fax

don@thehomevendor.com - email1312

www.TheHomeVendor.com www.DonAndAlishaStern.com
www.LiveAscension.com www.PelicanPointHomes.com

www.WaterfrontPropertyLA.com

March 10, 2009

Ascension Parish Real Estate - Residential Market Analysis February 2009

Filed under: Market Analysis, Uncategorized — admin @ 2:31 pm

Ascension Parish Residential Real Estate Market Analysis - February 2009

The information presented in this post is based upon data extracted from the Greater Baton Rouge Association of Realtors MLS database.
For the purposes of my analysis, I included data for detached single family dwellings which sold in Ascension parish for the years 2004 through
February 2009. I identified the home sales as either New Construction or Re-Sale because, in my experience, they have distinct characteristics.

The following chart shows unit sales by month since January 2004. We observe that overall (indicated by the green lines) there has been a generally
downward trend since late 2006. If one digs deeper into the data, one finds that most of this downward trend is due to a continuing drop in the
sales of new construction. This suggests the drop in new home prices is a price elasticity issue rather than due to the current economic crisis and the
restricted availability of credit. Homes in the pre-existing market space maintained their sales rate up until September of 2008 when the mortgage meltdown
occured and hurrican Gustav took a toll on the Greater Baton Rouge metro area market.

Ascension Parish Real Estate Unit Sales

Comparing February unit sales with unit sales in February of prior years, we observe that in the re-sale market space, unit sales are more or less equivalent
to prior years (not counting February of 2006 when the positive effects of hurricane Katrina in Ascension parish were manifest). New construction,
however, remains low. One bright spot here is that new construction unit sales in February 2009 were higher than in 2008 suggesting that the decline may
be at an end and pent up demand could be ready to break loose.

Ascension Parish Real Estate February Unit Sales

In terms of pricing, average prices in both market segments were growing, or at least remaining stable, through 2008. With two months of 2009 sales recorded,
the average price of both new construction and previously owned homes has declined by about 5%.

Ascension Parish Real Estate Average Home Prices

The following chart illustrates that the drop in the average price was not due to consumers simply purchasing smaller houses because the average
selling price per square foot of living area also dropped.

Ascension Parish Real Estate Selling Price per Square Foot

For pre-owned homes, we observe an oversupply situation. Overall there is a nine-month supply. Looking more deeply into the following chart, however, we
can see that this is primarily due to oversupply of more expensive homes. Affordable housing under $200K is in a seller’s market where demand is high and supply is
low.

Ascension Parish Real Estate Pre-existing Home Absorption Rate

Overall it is a buyer’s market in the new construction segment. In general, however, affordable housing is in balance or exhibits characteristics of a seller’s market while the
situation worsens as price increases. The highest velocity of home sales occured in the $151K-$200K price range which has accounted for 42% of new home sales in 2009 through
the end of February.

Ascension Parish Real Estate New Home Absorption Rate

Looking at the top 10 selling subdivisions for new construction in 2009, we can see confirmation that more affordable housing is indeed selling at a higher rate.

Ascension Parish Real Estate New Home Top 10 Subdivisions



©2009 by Don Stern - All Rights Reserved

(225)413-3634 phone (225)313-3698 fax

don@thehomevendor.com - email1312

www.TheHomeVendor.com www.DonAndAlishaStern.com
www.LiveAscension.com www.PelicanPointHomes.com

January 19, 2009

Ascension Parish Real Estate - Market Update for Year Ending 2008

Filed under: General Information, Market Analysis, Uncategorized — admin @ 5:33 pm








Ascension Parish 2008 Year End Residential Real Estate Market Analysis

Recent articles in the national and local press have, in my opinion, been pretty negative regarding the real estate market.
I think there is more to the story that needs telling so people can make informed decisions about the real estate market.

The information presented in this post is based upon data extracted from the Greater Baton Rouge Association of Realtors MLS database.
For the purposes of my analysis, I included data for detached single family dwellings which sold in Ascension parish for the years 2003 through
2008. I identified the home sales as either New Construction or Re-Sale because, in my experience, they have distinct characteristics.

The first parameter examined was the average sales price of a home in Ascension Parish. The following chart illustrates that prices held more or less
steady during 2008. The average home price for new construction remained about $258K while that of a previously owned home remained at about $207K.

Ascension Parish Real Estate Prices

The next four charts depict unit sales over the six-year period examined for this report. We can see the overall sales (the green lines) have, indeed,
dropped during 2008 as has been reported.

Ascension Parish Real Estate Unit Sales

The next two charts show monthly unit sales over the same period. The first of these charts illustrate new construction unit sales only
and the second deals only with homes in the re-sale market segment.

Ascension Parish Real Estate New Construction Unit Sales by Month

New construction unit sales have been significantly lower throughout the year.

Ascension Parish Real Estate Re-sale Homes Unit Sales by Month

We can see that, for the most part, homes in the re-sale market segment have maintained sales volumes at or near pre-Katrina levels. Most of the
drop in unit sales reported in the popular media is attributable to New Construction. The re-sale market wasn’t negatively affected to any significant
level until the drop attributable to the effects of hurricane Gustav in September.

Ascension Parish Real Estate Unit Sales

If one examines the previous chart closely, one can observe that the six-month moving average of unit sales has been dropping more or less steadily
since the fall of 2006. The effects of the mortgage industry crisis are, in my opinion, only secondary with respect to New Construction. I believe
that the increase in prices of new construction following hurricane Katrina was the primary cause for the drop in volume.

I’ve authored a report which examines the residential real estate market for the Greater Baton Rouge metro area in much greater detail than has been
presented here. Click Here to view the table of contents for this report.



©2009 by Don Stern - All Rights Reserved
(225)413-3634 phone (225)313-3698 fax
don@thehomevendor.com - email1312
www.TheHomeVendor.com www.DonAndAlishaStern.com
www.LiveAscension.com www.PelicanPointHomes.com


October 9, 2008

Ascension Parish Real Estate - Market Update for September 2008

Filed under: Market Analysis, Uncategorized — admin @ 10:33 am

Ascension Real Estate Market Update - September 2008

Hurricane Gustav did not impact the Greater Baton Rouge Real Estate Market like Hurricane Katrina did in 2005. In fact, it had the opposite effect. With massive power outages effecting the Greater Baton Rouge area the sales of detached single family homes plummeted during September. The following chart illustrates the impact of Gustav upon unit sales in Ascension Parish.

Ascension Parish Home Sales

We live in interesting times. It will be interesting to see whether unit sales will rebound in October because, in addition to the effect that Gustav had on our local market, we are faced with the current financial crisis on a national level and the resultant limited availability of credit. Thus far, however, our area has not been affected as strongly as other areas of the country. In fact, the following chart illustrates that average home values in the parish have held at 2007 levels thus far during 2008.

Ascension Parish Home Prices

The following set of charts shows absorption rates for the past five years as compared with 2008 and relates that rate to current inventory levels.

Ascension Parish Home Sales Absorption and Months Supply

Sales of new homes remains depressed compared with prior years. The re-sale market has, however, remained relatively strong. While the surge in demand created by Hurricane Katrina is certainly finished, previously owned homes are still selling at pre-Katrina rates. In fact, it is a Seller’s market for homes selling below $200K. It is, however, clearly a Buyer’s market for homes in this segment that are priced above $300K.

The preceding analysis was based upon data extracted from the Greater Baton Rouge Association of Realtors MLS system. The information contained herein is presumed to be accurate but is not warranted.

As always, I welcome readers to visit my websites at www.TheHomeVendor.com or www.LiveAscension.com or www.DonAndAlishaStern.com for real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.

©2008 by Don Stern - all rights reserved

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