Greater Baton Rouge April 2016 Home Sales Report

Download Greater Baton Rouge April 2016 Home Sales Report

Post on 16-Apr-2017

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  • GBRAR MLS COMPARISON MONTH OF APRIL 2015 VS APRIL 2016 MONTH AREA # SOLD MEDIAN

    SP/LP MEDIAN SOLD

    MEDIAN SOLD

    APRIL ASC 140 100% $118/sf $208,900

    2015 EBR 431 99% $113/sf $200,000

    LIV 172 100% $98sf/ $165,950

    WBR 27 100% $111/sf $188,000

    ALL 770 99% $111/sf $192,000

    TOTAL

    SALES 2015 770

    2016 ASC 158 100% $120/sf $210,000

    EBR 482 99% $113/sf $198,292

    LIV 132 100% $100/sf $167,750

    WBR 23 99% $109/sf $196,000

    ALL 795 99% $114/sf $194,000

    TOTAL

    SALES 2012 795

    CHANGE CHANGE CHANGE CHANGE

    ASC ASC +18 / +13% No Change

    +$2 / +2% +$1,100 / +1%

    EBR EBR +51 / +12% No Change

    No Change -$1,708 / -1%

    LIV LIV -40 / -23% No Change

    +$2 / +2% +$1,800 / +1%

    WBR OTHER -4 / -15% -1% -$2 / -2% +$8,000 / +4%

    ALL ALL

    +25 / +3%

    No Change +$3 / +3% +$2,000 / +1%

    NOTE: Based on information from the Greater Baton Rouge Association of REALTORS\MLS for the period of April 1,

    2015 to April 30, 2015 versus April 1, 2016 to April 30, 2016. This information was extracted on 05/18/2016 from

    GBRAR. Study Completed by Bill Cobb with Accurate Valuations Group. Greater Baton Rouge covers Ascension, East

    Baton Rouge, West Baton Rouge and Livingston Parishes ALL home types.

    WHY WE RELY ON MEDIAN SALES PRICE VERSUS AVERAGE SALES PRICE?

    NOTE: Why Median Sales Price is a better indicator than Average Sales Price! Median Sales Price is the barometer by which the National Association of Realtors utilizes to report on national housing markets. Average Sales Price tends to take all of the home sales prices from the lowest, say $50,000, to the highest, say $1,000,000, and state the average of them all, sometimes skewing the numbers because of the extreme highs and lows. Median Sales Price tends to focus more on the middle of where the bulk of home sales prices are taking place. Generally, the Average Sales Price is going to be higher because it includes the extreme high sales prices in a given market. Fannie Mae understands the problem with using Average Sales Price and now demands home appraisers perform the 1004MC or Market Conditions form based on narrower "sub-market" parameters for comp search. This means that on a 2,000sf home, Appraisers would be searching for comps with say 200sf below and above 2,000sf, say 1,750sf up to 2,250sf with similar ages and other similar characteristics.