By Bill Cobb Appraiser

Baton Rouge Cities Where Median Home Prices Increased TheMost In 2016

batonrougehousingreports.com/2016/12/baton-rouge-cities-where-median-home-prices-increased-the-most-in-2016/

Baton Rouge Cities Where Median Home Prices Increased The Most In 2016

Which cities within Greater Baton Rouge have experienced thelargest increases in the median price of homes sold during2016? Well, the cities on the top 13 list are pretty diverse both inprice range and location and include some declines. As the listbelow shows, the small town of Brusly, in West Baton RougeParish, is at the top of the list with the median price of homessold for the 2016 time period coming in at $206,150, a 25.9percent increase as compared to 2015 and based on only 232016 sales. Other cities on the top 13 list include St Amant70774 +19.4%, Watson 70706 +11.2%, Geismar 70734 +7.7%,Walker 70785 +7.5%, Gonzales 70737 5.6%, Prairieville 70769+2.7% and Central +1.2% (Central Zip Codes 70818, 70739,70770).

Reason For Increases: Low Inventory and Large Number ofJobs Being AddedThe change in median price could be largely the result of a lowinventory, homes available for purchase, and lack of new homeconstruction available. Another reason is what The Advocatereports, “The Baton Rouge area added roughly 9,000 jobs, or2.3 percent job growth, during the first nine months of the year.The area already has surpassed the 1.9 percent projectedgrowth for all of 2016.“

*****READER CAUTIONNow, before you get too excited, readers should note the chartmost represents home sales prices PRE-FLOOD, which maynot be a true reflection of the post-flood market to come forthose cities heavily impacted by flooding – St Amant, Central,Watson, Denham Springs and some subdivisions in BatonRouge, such as Monticello, Park Forest, O’Neal Place, etc.. InWatson’s Glenwood Estates Subdivision, the median sales price has PLUMMETED down to only $81,000 and wasin the $145,000 to $166,000 range pre-flood. EXPERTS ARE PREDICTING IT WILL TAKE UP TO 2 YEARS FORALL OF THESE DAMAGED HOMES TO BE REPAIRED AND ABSORBED BACK INTO OUR MARKET.

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2016 Sold Price Per Square Foot In 2016 Year To DateI have also included a second table listing increases in sold prices per square foot by cities, including tabulatedaverages. These appear to indicate a 3.7% increase and average +$4.00/sf.

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Top Ten Baton Rouge Cities For Median Home Price Increase In 2016

Top Ten Baton Rouge Cities For Median Price Per Square Foot Increase In 2016

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DATA SOURCE: GREATER BATON ROUGE ASSOCATION OF REALTORSBased on information from Greater Baton Rouge Assocation of REALTORS \ MLS for period 01/01/2015 to12/31/2015 vs 01/01/2016 to 12/04/2016.

Bill Cobb AppraiserBaton Rouge Housing Reports Dot Com is an information resource provided by Greater BatonRouge's Home Appraiser, Bill Cobb, and Accurate Valuations Group, LLC 225-293-1500. Bill hasover 23 years experience as a Residential Appraiser and updates his local network of sites withreports, videos and audio reviews of local housing market trends!

PLEASE Ask any Greater Baton Rouge Residential Real Estate questions at link below. NOTE:If you're viewing the activerain link on a mobile device, see the "Contact" at bottom left of yourscreen. http://activerain.com/blogs/batonrougerealestate

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Area

12-Month

Median For

2015

Median

Through

November

2016

Change 2015-

November

2016

12-Month

Total Sales

2015

Total Sales

Ended

12/4/2016

2016

Change

2015 vs

2016 YTD •

Brusly $206,150 $259,500 25.9% 61 23 -62%

St Amant $192,000 $229,250 19.4% 54 48 -11%

Watson $160,000 $177,950 11.2% 331 286 -14%

Geismar $265,500 $285,950 7.7% 96 108 13%

Walker $170,000 $182,700 7.5% 265 266 0%

Gonzales $193,250 $204,000 5.6% 608 586 -4%

Prairieville $224,000 $230,500 2,7% 879 876 0%

Central $216,500 $222,000 2.5% 339 335 -1%

Denham Springs $167,000 $169,000 1.2% 959 897 -6%

Baton Rouge $205,000 $206,432 0.7% 3735 3672 -2%

Zachary $222,000 $215,000 -3.2% 403 455 13%

Addis $203,000 $192,855 -5.0% 97 144 48%

Baker $93,900 $88,500 -5.8% 157 161 3%

Chart by Bill Cobb Appraiser 225-295-1500Based on info from Greater Baton Rouge Association of REALTORS® \ MLS

for period 01/01/2015 to 12/31/2015 vs 01/01/2016 to 12/04/2016

Area

12-Month

Median For

2015

Median

Through

November

2016

Change 2015-

November

2016

Per Sq. Ft.

Change

St Amant $115 $124 7.8% $9

Brusly $110 $117 6.4% $7

Geismar $126 $134 6.3% $8

Central $110 $116 5.5% $6

Walker $108 $113 4.6% $5

Gonzales $116 $121 4.3% $5

Watson $104 $108 3.8% $4

Baton Rouge $110 $114 3.6% $4

Addis $112 $116 3.6% $4

Baker $63 $64 1.6% $1

Denham Springs $100 $101 1.0% $1

Prairieville $119 $120 0.8% $1

Zachary $118 $119 0.8% $1

Average $109 $113 3.7% $4

Chart by Bill Cobb Appraiser 225-295-1500Based on info from Greater Baton Rouge Association

of REALTORS®\MLS for period 1/1/15 to 12/31/15

vs 01/01/2016 to 12/04/2016