Pelican Point Home Sales
Market Update
Here are some updates Real Estate sales statistics for the Pelican Point Golf Community located in Gonzales, LA. The raw data were extracted from the Greater Baton Rouge Association of Realtors MLS database. It is my hope that potential buyers as well as residents considering a move will find this information useful. Home sales through 10/31/07 are included and inventory levels are as of 11/2/07
New
construction sales prices continue to grow. In the resale market,
however, there has been a slight drop in the sales price per square foot of
living area although still substantially higher than in the pre-Katrina
market.
There
is currently a 13-month supply of new construction in the subdivision. In
the resale market segment, there is nearly a 12-month supply, a buyer's market
for both. In the fastest moving price segment ($250K-$350K),
however, there is a seller's market with less than a 6-month supply.
New Home Absorption by Price Range |
||||||||
|
|
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
Current Inventory |
Months Supply |
|
$100K-150K |
0.5 |
0.1 |
- |
0.1 |
- |
- |
|
? |
|
$150K-200K |
1.0 |
0.8 |
0.3 |
0.3 |
- |
0.1 |
|
? |
|
$200K-250K |
0.8 |
0.6 |
0.7 |
1.2 |
0.7 |
0.2 |
1.0 |
5.0 |
|
$250K-300K |
1.0 |
1.3 |
1.4 |
0.7 |
0.7 |
0.3 |
11.0 |
36.7 |
|
$300K-350K |
0.3 |
0.3 |
0.8 |
0.8 |
0.7 |
0.7 |
3.0 |
4.3 |
|
$350K-400K |
0.2 |
0.4 |
0.3 |
0.8 |
0.9 |
0.2 |
5.0 |
25.0 |
|
$400K and up |
0.1 |
0.2 |
0.3 |
0.4 |
0.8 |
0.8 |
10.0 |
12.5 |
|
Overall |
3.9 |
3.8 |
3.7 |
4.1 |
3.7 |
2.3 |
30.0 |
13.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Resale Home Absorption
by Price Range |
||||||||
|
|
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
Current Inventory |
Months Supply |
|
$150K-200K |
- |
0.1 |
0.1 |
0.2 |
0.1 |
0.1 |
|
? |
|
$200K-250K |
0.1 |
0.3 |
0.3 |
1.2 |
0.3 |
0.2 |
2.0 |
10.0 |
|
$250K-300K |
0.3 |
0.1 |
0.5 |
0.9 |
0.6 |
0.7 |
4.0 |
5.7 |
|
$300K-350K |
0.1 |
- |
0.2 |
0.3 |
0.7 |
0.5 |
2.0 |
4.0 |
|
$350K-400K |
- |
0.1 |
0.2 |
0.5 |
0.4 |
0.4 |
5.0 |
12.5 |
|
$400K and up |
- |
- |
- |
- |
0.8 |
0.4 |
14.0 |
35.0 |
|
Overall |
0.5 |
0.5 |
1.3 |
3.0 |
2.8 |
2.3 |
27.0 |
11.7 |
The
following chart provides an analysis by street within the subdivision.
The sample size for a particular street is generally smaller than required for
a meaningful statistical analysis but the information is, nonetheless, informative.
The summary information suggests that, on average, the current inventory in the
new construction market segment is priced 8-9% higher than other new
construction sold during 2007. In the resale market segment, homes
are priced an average of $20/sq.ft. higher than resale homes sold during 2007,
a difference of almost 14%. Given that there is so much inventory, I
would expect to see buyers able to negotiate for better pricing.
|
Pelican
Point Homes |
New Construction |
Resale |
Overall |
||||
|
Street Name |
Data |
Current
Inventory |
Sold |
Current
Inventory |
Sold |
Current
Inventory |
Sold |
|
BEAU DOUGLAS AVE |
Avg. Price |
|
$ 339,000 |
$
402,967 |
$320,000 |
$
402,967 |
$
326,333 |
|
|
Avg.
$/sq.ft. |
|
$
139.51 |
$
120.66 |
$
114.63 |
$
120.66 |
$
122.92 |
|
|
Count |
|
1 |
3 |
2 |
3 |
3 |
|
BREEZE POINT DR |
Avg.
Price |
|
$ 445,000 |
$
423,500 |
|
$
423,500 |
$
445,000 |
|
|
Avg.
$/sq.ft. |
|
$
135.38 |
$
117.10 |
|
$
117.10 |
$
135.38 |
|
|
Count |
|
1 |
4 |
|
4 |
1 |
|
CADDY'S CT |
Avg. Price |
$ 249,900 |
$ 277,775 |
$
199,900 |
|
$
216,567 |
$
227,775 |
|
|
Avg.
$/sq.ft. |
$
125.70 |
$
139.73 |
$
142.79 |
|
$
137.09 |
$
139.73 |
|
|
Count |
1 |
4 |
2 |
|
3 |
4 |
|
CHAMPION TIF |
Avg.
Price |
$ 249,900 |
|
$
199,900 |
$204,100 |
$
234,067 |
$
204,100 |
|
|
Avg.
$/sq.ft. |
$
147.51 |
|
$
128.83 |
$
120.64 |
$ 141.28 |
$
120.64 |
|
|
Count |
4 |
|
2 |
4 |
6 |
4 |
|
COURTYARD DR |
Avg. Price |
$ 271,150 |
$ 260,506 |
$
263,933 |
$231,300 |
$
269,707 |
$
250,771 |
|
|
Avg.
$/sq.ft. |
$
156.27 |
$
140.21 |
$
144.96 |
$
142.68 |
$
154.01 |
$
141.03 |
|
|
Avg.
$/sq.ft. |
12 |
6 |
3 |
3 |
15 |
9 |
|
DOVE ESTATES CT |
Avg.
Price |
|
|
$
599,900 |
|
$
599,900 |
|
|
|
Avg.
$/sq.ft. |
|
|
$
129.21 |
|
$
129.21 |
|
|
|
Count |
|
|
1 |
|
1 |
|
|
EAGLES NEST |
Avg. Price |
$ 299,900 |
|
|
$294,365 |
$
299,900 |
$
294,365 |
|
|
Avg.
$/sq.ft. |
$
147.95 |
|
|
$
128.94 |
$
147.95 |
$
128.94 |
|
|
Count |
1 |
|
|
1 |
1 |
1 |
|
GADWALL CT |
Avg. Price |
|
|
$
289,900 |
|
$
289,900 |
|
|
|
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