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Prices Continue to Decline in the Beach Market

by The Pat Wattam Team
Wow!  What a great time to take advantage of the market on the beach!  Whether you want to go to southern Florida or the Alabama Gulf Coast, this is a great time to buy.  We have found some great deals from Go Beach Realty in Gulf Shores, AL.  They shared with us a cottage acorss the street from the beach in West Beach for mid $160's, a condo across the street from the beach at Romar for under $200K, and then a place on the beach for under $400,000!!!!  What a great opportunity to own a vacation home for you to enjoy!  When you realize that no matter what hurricanes bring, there is still only so much beach property - a limited supply- and if you ever wanted to buy, now is the time!  Call me today and tell me what you would like, and I will find a great Realtor for you in that area!

Updated Market Statistics for First Quarter 2007

by The Pat Wattam Team

It's interesting all the news in the paper that our Market is down 21% compared to last year.  I guess numbers say whatever you want them to say. I also know that those of us working in this market day in and day out may have a different take on the activity than the numbers show.  Let's look at the first quarter of 2006 vs 2007, putting East Baton Rouge, Acsension, and Livingston Parishes as our market.

Year        New Listings      Sold Properties         Average Sold Price       Average Days on Market

2006       3260                       2454                            $174,092                           76

2007        3712                       1904                            $191,035                           67

Compare these numbers to the entire 2006 year end stats:

2006      13,542                      10,293                         $186,964                            65

While it is true that our closings are down so far for this year, the days on market statistic is stable, and the average sold price keeps climbing - a nice steady growth.  Everyone who thought our market would have crashed by now knows that isn't going to happen soon.  Are some price ranges stronger than others?  Sure!  But that was always the case.  We have a very healthy real estate market in our area.  It's a great time to buy and sell property - so call me today and let's get started!!!!

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Pat Wattam
RE/MAX First, Independently Owned and Operated
4750 Sherwood Common
Baton Rouge LA 70816
Office Direct: 225-298-6900
Office Main: 225-291-1234
Fax: 225-295-1234

RE/MAX First
Each Office Independently Owned and Operated
Main: 225-291-1234

Licensed by the Louisiana Real Estate Commission