Accurate Valuations Group Releases 2011 East Baton Rouge Housing Study

April 11, 2011 - PRLog -- BATON ROUGE, LA – April 11, 2011 – Baton Rouge Home Appraisal Group recently released a housing study comparing the first quarter 2010 versus first quarter 2011.

The number of single-family home sales in East Baton Rouge Parish, Louisiana increased in 10 out of 20 total zip codes studied. Nine (9) zip codes showed declining number of sales while one (1) zip code showed no change. Still, in Q1 2010 there were 738 total home sales versus 714 in Q1 2011, which is only a minor decline of 24 sales or -3%.  

Average Sales Prices Overall Decline! This is consistent with the CoreLogic on national home prices falling for the seventh straight month, as reported on Thursday, April 7, 2011. Thirteen (13) of the twenty (20) Zip Codes showed declining average sales prices versus only seven (7) showing increases. Local home prices are continuing to correct.

Average Sales Price Per Square Foot Overall Declines! This is consistent with the CoreLogic report. Fifteen (15) of the twenty (20) Zip Codes showed declining average sales prices per sq. ft. versus only seven (5) showing either no change or just slight increases.

Biggest Gainers. Zip Code 70807, the Scotlandville market, showed a 450% increase in number of home sales. Zip Code 70739, the Central or Greenwell Springs market, showed a +16.2% increase in Average Sales Prices AND +5.6% in Average Sales Price Per Sq. Ft.. Central is a "hot" market viewed by locals as having a favorable school district.

Largest Declines. Zip Code 70820, the market below LSU off Brightside, showed a -35.3% decrease in number of home sales. Zip Code 70802, the market in and around Central Business District, showed a -33.4% decline in Average Sales Prices AND -30.2% decline in Average Sales Price Per Sq. Ft..

The data was compiled using the permission of GBRMLS, search dates from January 1, 2010 through March 31, 2011, extracted on April 9, 2011. Report includes ALL housing types in East   Baton Rouge Parish.

The complete chart showing the breakdown of all twenty (20) zip codes can be viewed at http://www.batonrougerealestatetrends.net/.

A video presentation of this data is presented here: http://www.youtube.com/watch?v=OM8jUmHz9KI