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Pelican Point Real Estate Market Update Through August 2010

September 7th, 2010

Pelican Point Real Estate Market Report

The data used in this report were extracted from the Greater Baton Rouge Association of Realtors MLS database on 9/2/2010 and represent home sales between 1/1/2005 and 8/30/2010. The data are presumed accurate but are not warranted.

I have good news and bad news to report about the Pelican Point real estate market. First the bad news… there are more homes on the market than the demand for them. The chart below shows that, overall, there is nearly a 12 month supply of existing homes based upon current absorption rates. For homes priced over $350K there is nearly a 2 year supply.

Pelican Point Real Estate Market Statistics

The next chart gives some cause for optimism. The rate of absorption for existing homes in 2010 shows some improvement over 2009. The absorption rate for new homes, however, is well below the peak of about 5 homes per month being sold in 2005 to about 1 every other month in 2010.

Pelican Point Real Estate Market Statistics

Another bit of good news is that existing homes appear to be holding values fairly well despite the imbalance in supply vs. demand. In 2010, home pricing (in terms of selling price per square foot of living area) has rebounded and, at $122.03/sq.ft., is well above what it was in the previous two years but has not yet recovered to the 2006 level.

Pelican Point Real Estate Market Statistics

As always, I appreciate hearing from readers and I welcome any comments or suggestions for improvement that you may offer.



©2010 by Don Stern - All Rights Reserved

(225)413-3634 phone (866)723-5477 fax

don@thehomevendor.com - email1312

www.TheHomeVendor.com www.DonAndAlishaStern.com

www.LiveAscension.com www.PelicanPointHomes.com

www.WaterfrontPropertyLA.com

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Pelican Point Market Update - First Quarter 2010

April 6th, 2010

Pelican Point Real Estate Market Report - First Quarter 2010

The data used in this report were extracted from the Greater Baton Rouge Association of Realtors MLS database. The data are presumed accurate but are not warranted.

The average selling price in Pelican Point in the re-sale market segment saw a substantial increase during the first quarter of 2010. Only a single newly built home sold during the first quarter so no conclusions can be drawn vis a vis any trend in the new construction market segment.

Pelican Point Home Sales


The following chart shows the distribution of the selling price per square foot of living area since January of 2004. There has, perhaps, been a minor decline after it peaked in the years immediately following hurricane Katrina but has more or less been holding steady.

Pelican Point Home Sales


New construction sales have fallen way off. As indicated earlier, a single newly constructed home has sold so far in 2010. The resale market segment, however, has shown tremendous growth as the next chart indicates.

Pelican Point Home Sales


The next chart illustrates that, for the first quarter of 2010, the absorption rate for previously owned homes in Pelican Point has rebounded to a level not seen since hurricane Katrina.

Pelican Point Home Sales


That’s the good news… The bad news is that there are still more homes for sale than can be absorbed even at the higher absorption rates. More than a third of existing inventory is in the over $400K price range. At an absorption rate of only 0.7 homes per month, there is a sixteen and a half month supply placing this price range clearly in the Buyer’s Market category.

Pelican Point Home Sales


The next chart shows the average selling price per square foot of living area for previously owned homes separated by the street. As 2010 wears on, these numbers will become more meaningful. A total of eleven homes sold during the first quarter which is insufficient to draw any street level conclusions for 2010 at this time.

Pelican Point Home Sales

As always, I appreciate hearing from readers and I welcome any comments or suggestions for improvement that you may offer.



©2010 by Don Stern - All Rights Reserved

(225)413-3634 phone (866)723-5477 fax

don@thehomevendor.com - email1312

www.TheHomeVendor.com www.DonAndAlishaStern.com

www.LiveAscension.com www.PelicanPointHomes.com

www.WaterfrontPropertyLA.com

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Pelican Point Real Estate Market Analysis - Year-end 2009

January 21st, 2010

Pelican Point Real Estate Market Report

This report summarizes and compares the Pelican Point housing market in 2009 and compares it with previous years. In terms of unit sales, approximately the same number of homes sold in 2009 as did in 2008. While down slightly from 2008, the re-sale market segment remains ahead of pre-Katrina levels. New construction, on the other hand, is way down from years preceding 2008.

Pelican Point Unit Home Sales

Looking at absorption rates, it is definitely a buyer’s market in the subdivision. There are significantly more homes for sale than demand supports. Home buyers are likely to find bargains while home sellers should set themselves apart from the competition.

Pelican Point Real Estate Absorption Rates

Since Pelican Point is comprised of a number of different filings, each with it own unique characteristics, when examining pricing it is useful to look at individual street addresses. The following chart examines pricing in the resale market segment in terms of the price per square foot of living area. We can see that there has been a softening of prices in many areas. This is, in my opinion, due to the buyer’s market condition that exists. In general, prices in Ascension parish as a whole have held for the resale market.

Pelican Point Home Pricing

The data used in this report were extracted from the Greater Baton Rouge Association of Realtors MLS database. The data are presumed accurate but are not warranted.

As always, I appreciate hearing from readers and I welcome any comments or suggestions for improvement that you may offer.



©2009 by Don Stern - All Rights Reserved

(225)413-3634 phone (866)723-5477 fax

don@thehomevendor.com - email1312

www.TheHomeVendor.com www.DonAndAlishaStern.com

www.LiveAscension.com www.PelicanPointHomes.com

www.WaterfrontPropertyLA.com

MarshallBond.TheHomeVendor.com

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

July 12th, 2009

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

Posted in General Information, Market Reports | No Comments »

Mediterranean Style Golf Course Homes

February 26th, 2009

 


Don Stern | Coldwell Banker Mackey Co. | (225) 413-3624
6198 Royal Palms Ct, Gonzales, LA
Mediterranean style golf course home is perfect for entertaining
5BR/3BA Single Family House
offered at $390,000
Year Built 2003
Sq Footage 3,226
Bedrooms 5
Bathrooms 3 full, 0 partial
Floors 2
Parking Unspecified
Lot Size 14,450 sqft
HOA/Maint $38 per month

DESCRIPTION

Large five-bedroom home located in the prestigious Pelican Point Golf Community that sits right on the golf course.

This house is also available for lease. Call for details.

see additional photos below
PROPERTY FEATURES

Central A/C Central heat Fireplace
High/Vaulted ceiling Walk-in closet Tile floor
Family room Living room Bonus/Rec room
Dining room Breakfast nook Dishwasher
Refrigerator Stove/Oven Microwave
Granite countertop Stainless steel appliances Attic
Laundry area - inside Balcony, Deck, or Patio Yard


COMMUNITY FEATURES

Business center Clubhouse Fitness center
Swimming pool(s) Tennis court(s) Golf course
Lake Playground Secured entry


ADDITIONAL PHOTOS


Photo 1

Photo 2

Photo 3

Photo 4

Photo 5

Photo 6
Contact info:
Don Stern
Coldwell Banker Mackey Co.
(225) 413-3624
For sale by agent/broker

powered by postlets Equal Opportunity Housing
Posted: Feb 22, 2009, 11:49am PST

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Eagles Nest Lot For Sale

March 8th, 2008


Don Stern | Coldwell Banker Mackey Co. | (225) 413-3624
40117 Eagles Nest, Gonzales, LA
Garden Home Lot in Pelican Point
8,880 sqft Vacant Land
offered at $65,000
Lot Size 8,880 sqft

DESCRIPTION

One of the last garden home lots in the Eagles Nest section of Pelican Point. Level, golf course lot ready to build on. Tucked in a secluded corner of Pelican Point, Eagles Nest provides a quiet refuge from the hustle and bustle of the world. Highly restricted neighborhood, each home here has a private courtyard fronted by a 6-foot high brick fence.
see additional photos below
ADDITIONAL PHOTOS

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

powered by postlets Equal Opportunity Housing
Posted: Mar 8, 2008, 7:32am PST

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Tezcuco Ct. Lake Lot For Sale

March 8th, 2008

Don Stern | Coldwell Banker Mackey Co. | (225) 413-3624

6277 Tezcuco Ct, Gonzales, LA

Full sized Lake Lot

13,500 sqft Vacant Land

offered at $88,000

Lot Size 13,500 sqft

DESCRIPTION


Full size level lake lot in highly restricted Pelican Point Golf Community subdivision. Located between the Dove Estates and Pelican Roost sections of the subdivision. Call now for a private tour.
see additional photos below

ADDITIONAL PHOTOS


Seller contact info:

Don Stern

Coldwell Banker Mackey Co.

(225) 413-3624

For sale by agent/broker

powered by postlets Equal Opportunity Housing

Posted: Mar 8, 2008, 7:13am PST

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

Contact me via e-mail1312 or call me at (225) 413-3624 for more information.

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Dove Estates Lot for Sale

March 8th, 2008


Don Stern | Coldwell Banker Mackey Co. | (225) 413-3624
40137 Dove Estates Court, Baton Rouge, LA
Estate size lot in Pelican Point
15,810 sqft Vacant Land
offered at $98,000
Lot Size 15,810 sqft

DESCRIPTION

Fabulous lake lot in the prestigous Dove Estates section of Pelican Point. Highly restricted, minimum 2600 sq.ft. living area minimum.
see additional photos below
ADDITIONAL PHOTOS

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

powered by postlets Equal Opportunity Housing
Posted: Mar 8, 2008, 6:45am PST

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

Contact me via e-mail1312 or call me at (225) 413-3624 for more information.

©2008 by Don Stern - All Rights Reserved

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Pelican Point Commons - Townhome Sales 2002-2007

January 27th, 2008

Ascension Parish Real Estate - Pelican Point Townhomes

I have some clients looking for investment property in the Pelican Point Golf Community. Many of the qualifying properties we looked at were townhomes. Previously, my Pelican Point Market Analyses dealt primarily with detached single family homes so I wanted to take a closer look at the sales history with respect to the townhomes. A total of forty-eight recorded sales between January 2002 and present were examined. The first parameter looked at was the selling price. The following chart plots the selling price vs. time. While only 22% of the variation in price is attributable to the time we can see that prices are increasing over time. Between 2002 and present a linear regression analysis calculates that the rate of increase has been about $25.51/day or about $9,311 per year.

Pelican Point Home Sales - Townhome Prices

The next chart plotted selling price per square foot of living area over time. A regression analysis here revealed that over 40% of the variation in pricing is explained by the date of sale. The equation predicts that selling price/sq.ft. is rising by almost $4.75 per year (1.3¢/day).

Pelican Point Home Sales - Townhome Pricing $/sq.ft.

The third chart shows the average price/sq.ft. of townhomes but distinguishes between new homes and homes in the resale market segment. This chart shows some decline in the average home price in the resale market during 2007 but this drop was attributable to a single townhome being sold well below the others.

Pelican Point Home Sales - Townhome Pricing $/sq.ft.

Finally, I looked at the Days on Market statistics for townhomes. One can see that the demand for townhomes historically was not very strong within the subdivision and they tended to remain on the market for months or even years. The following chart shows that, in 2007, townhomes sold much more quickly than in previous years.

Pelican Point Home Sales - Townhome Days on Market

The data used for this analysis was extracted from the Greater Baton Rouge Association of Realtors MLS database. While every attempt was made to ensure accuracy, no warranties are either expressed or implied. Please feel free to leave comments. You can also reach me at (225) 413-3624 or by e-mail1312.

As always, I welcome readers to visit my websites at www.PelicanPointHomes.net and www.LiveAscension.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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Technorati Profile

January 25th, 2008

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