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Covington, LA 70433, East of Hwy 190, to include Harrison Avenue and Surrounding Area. 3 Year Real Estate Review

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Covington, LA 70433, N of I-12, E of Hwy 190, W of Hwy 59, S of Hwy 36, 3 Year Residential Real Estate Review

The graph above, (feel free to click to enlarge) illustrates a 3 year review of real estate activity for the City of Covington, North of I-12, East of Hwy 190, and West of Hwy 59. Major subdivisions in this area include; Crestwood, Tammany Hills, Arrowwood Estates, Kings Forest, Hollycrest, Southwind, Covington Meadows and more.  This graph tracks the number of new, active, and sold homes, as well the average sales price, on a month to month basis, from March 2007 through February 2010.

First, the number of active listings (green) is down about 30 of over 160 homes from 3 years ago. My calculations equate this disparity to an almost 20% reduction in active homes on the market. This is significant because as the inventory of homes decreases, values will level out and begin to rise as demand surpasses supply.

When we look at the average sales price (yellow) over the last 3 years, we definitely see a decline in values. Being of generous mind I would say a little over 10%. I also know the numbers get even more confusing as we get closer to 2010, due to the fact they are all over the place. High and low. This bouncing as we get closer to present day is, I feel, a direct result of the low number of sold homes (blue) we have experienced for the last year to 18 months. Less than 10 sales per month recently. Darn near a 50% reduction from 3 years ago. Due to this low number the abnormal sales (the 80 / 20 rule applies here) are having more of a direct effect and skewing the numbers, making them bounce on our graph. I want to reiterate, less than 10 sales per month. If you are selling, we need to talk.

Lastly the number of new homes for sale (red) coming onto the market each month has decreased over the past 3 years. I like the fact this number is decreasing. Supply and demand again. The fewer the homes, the smaller the inventory, the greater the value, hence demand, of the available supply.

For more information on your home’s current market value, please visit

www.StTammanyHomeEvaluation.com

for a FREE Over-the-Net Home Evaluation.

Thank You

Marc

Madisonville, LA 70447, 3 Year Real Estate Review, South of I-12, West of the Tchefuncte River

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3 Year Real Estate Study_Review, Madisonville, LA 70447

The graph above, (feel free to click to enlarge) illustrates a 3 year review of real estate activity for the City of Madisonville, South of I-12 and West of the Tchefuncta River. Major subdivisions in this area include; Arbor Walk, Black River Estates, Dominion, Tchefuncta Trace, Windermere, and many more. This graph tracks the number of new, active, and sold homes, as well the average sales price, on a month to month basis, from March 2007 to February 2010.

The first thing I notice is the number of active homes for sale, (green track), has steadily declined for almost 3 years. I would have to pull the numbers to be accurate, but from looking at this I would say the numbers are down almost 100 homes. A full 1/3 of the current market 2.5 years ago. Significant changes.

Looking further we see the average sales price of a home, (yellow track), in Madisonville is down almost 200K from 3 years ago. Yes the number has fluctuated greatly over the last 3 years, however the chart still reflects a steady decline in home values.

Lastly we are going to look at the number of new home listings, (red track), versus the number of sold homes, (blue track), at the same time. We see the number of new homes coming onto the market is higher than the number of sold homes, almost double early on in this timeline, (2007 and some of 2008). While the number of sold homes is mainly constant with a few small peaks. However as we follow the line closer to our present time, we see the tracks begin to merge, even juxtapose December of 2009. What scares me a little is the number of sold homes so far for 2010. Not to chide, but the track looks just above zero. A sharp decline, and the lowest 2 months in 3 years. A little foreboding if you ask me.

Well… please do not shoot the messenger. Madisonville is a beautiful place to live and the market will return in due time.

For any questions please contact us anytime. Email.

For an in-depth evaluation of YOUR homes current value, commonly called a CMA (current market analysis) or a BPO (broker price opinion), visit

www.StTammanyHomeEvaluation.com

We cover residential and commercial real estate for Mandeville, LA.

Thank You

Marc Pellettiere

Mauti Meredith Scoggin

Mandeville, LA, 3 Year Real Estate Review, South of I-12, East of Hwy 190

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3 Year Real Estate Study_Review, Mandeville, LA, 70448, E of Hwy 190

The graph above, (feel free to click to enlarge) illustrates a 3 year review of real estate activity for the City of Mandeville, South of I-12 and East of Hwy 190. Major subdivisions in this area include; Greenleaves, Meadowbrook, The Reserve, Forest Brook, Hunter’s Glen, Rosedown, The Woodlands, Quail Creek, and many more. This graph tracks the number of new, active, and sold homes, as well the average sales price, on a month to month basis, from March 2007 to February 2010.

Looking at the top part of the graph I see the average sales price for this area has stayed very close to $250K for over a year. This is good, home values are stabilizing.  I also see the number of active listings over this 3 year period has reduced by a full 1/3 going from 450 in 2007 to 300 in 2010. Mandeville’s over supply of homes is dwindling and this is good. Fewer listings, higher demand, hence higher values.

Lower down I see the number of new listings on the market has taken a 50% hit over the past 3 years, from 140 or so, down to less than 70 for sure. New construction has been the hardest hit. Now for the sold listings, well… over the last 3 years it looks like what I would expect. A humpback whale several times over. On a yearly basis a real estate market is very cyclical, with peak sales during the summer months and drops during the winter / holiday months. Like rolling hills.

If you have any questions or comments, feel free to post. For real estate services throughout St Tammany Parish, visit

www.TheScogginGroup.com

Thank You

Marc

Slidell, Louisiana, Days on Market and List Price vs. Sales Price Review, 2009

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Slidell, Pearl River, Lacombe, LA, Days on Market, Year in Review, 2009

These charts contain date from the entire year 2009.

I also need to say that this chart includes the Cities of Pearl River and Lacombe to complement Slidell. This report could easily be called the East St Tammany real estate review. 🙂

30% of the homes listed in 09 sold in less than 30 days, but almost 1/3 took longer than 120 days. Ok but not great. In comparison to crunches many others are feeling these numbers I feel are good.

Slidell, Pearl River, Lacombe, LA, List Price vs Sales Price, Year in Review, 2009

When you look at list price versus sales price the numbers here look good. Not more than 6% off of list price in 09. Buyers were able to negotiate a little but not too much. Sellers are able to stand firm on their asking prices.

For more information on Your homes current value in Slidell, visit

www.StTammanyHomeEvalution.com'

Thank You

Marc

Covington, Louisiana, Days on Market and List Price vs. Sales Price Review, 2009

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Covington, Abita Springs, Folsom, LA, Days on Market, Year in Review, 2009 

These charts include date for the entire year 2009.

Before I get started I want to make sure I temper any statements here with the fact, the Covington year in review contains data which includes the Cities of Abita Springs, Folsom and Bush, and all the rural areas in between in St Tammany Parish. We did not feel it was necessary to break W St Tammany up into smaller markets for this review. Why do I say this? Well the numbers for Covington do not look as good as Mandeville, however you must take into account the larger area and different type properties. I do believe if we were to compare downtown Covington to Mandeville, the numbers would be more equivalent. However, this is called the Covington review, not the why are the numbers different than Mandeville review?

Less than 26% of the homes in Covington in 09 sold in less than 30 days, but almost 60% did sell in less than 90 days. The ugly number here is almost 33%, a full 1/3, took longer than 120 days.

Covington, Abita Springs, Folsom, LA, List Price vs Sales Price, Year in Review, 2009

Now the numbers here I think are ok. The list price versus sales price only range from a little over 3% to a little less than 6%. Even when a home took longer than 4 months to sell, Sellers were not having to give away the barn. The Sellers were only reducing their homes by less than 6% during 2009, which is not bad at all when you consider the overall economy. I am pleased with these numbers.

For a more precise look at your homes value in Covington, visit

www.StTammanyHomeEvaluation.com

Thank You

Marc

Mandeville and Madisonville, Louisiana, Days on Market and List Price vs. Sales Price Review, 2009

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Mandeville and Madisonville, LA, Days on Market, Year in Review, 2009 

These charts contain data for the entire year 2009.

When you look closely at this pie chart, you see less than 30% of the homes listed on the market in 09 sold in less than 30 days. Over 30% took longer than 120 days. A better note is over 60% of the homes sold in less than 90 days. The majority sell within a reasonable amount of time. At least in my opinion 90 days is a reasonable amount of time.

Mandeville and Madisonville, LA, List Price vs Sold Price, Year in Review, 2009

Regardless of how soon or how long it took you to sell your home in Mandeville in 2009, average reductions off of list price only range 4% – 6%. This low percentage in reduction of list price verses sales price shows the homes in Mandeville held their value in 09. A percentage will always be there, but the lower the better.

For local information on Real Estate Home Sales in Mandeville and Madisonville, LA, visit

www.StTammanyHomeEvaluation.com

Thank You

Marc

Southeastern Louisiana University Economic Reporter, 4th Quarter 2009

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Download SLU Economic Reporter, 4th Quarter, 2009

I Love the Economic Reporter. This is a GREAT Resource! If you want to keep in touch with what is going on, economically, in the "Northshore Market", take a gander at this WEALTH of information.

** The unemployment rate is up, but still lower than the average, and building permits are up for this quarter, but still down over Q4 2008. The good news is there are projected growths for 2010 and 2011 from reputable resources, so keep your head up. **

Covering St Tammany, Tangipahoa, Washington, Livingston, and St Helena Parishes.

Thank You

Marc

The St Tammany Parish Economic Development Foundation’s 10 Year Summary

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The St Tammany Parish Economic Development Foundation’s Ten Year (1997 through 2007) Economic Summary.

St Tammany Parish 10 Year Economic Summary 1997__2007 Cover

Here is the MEAT of the Summary. Mmmmmm. Good information.

St Tammany Parish 10 Year Economic Indicators

And I love Charts and Graphs. I am not sure if it makes me a visual person. Hmmmmm.

St Tammany Parish 10 Year Economic Graphs

All of this information is provided by the St Tammany Economic Development Foundation.

www.stedf.org

We thank then whole heartedly.

Also here is the whole document in PDF format.

Download St Tammany Economic Development 10 Year Study

If you would like a Core Sample of Your Corner of the St Tammany Real Estate Market, Please Visit:

St Tammany Parish MLS Market Snapshot for the Best and Current Information Available.

Thank You

Marc Pellettiere