The Townhomes of Parkoaks Baton Rouge sales update 2017-2018

Baton Rouge Townhome sales trends within Townhomes of Parkoaks near Coursey Blvd at Sherwood Forest Blvd 70816, research for a 2018 home appraisal. Photos and charts are below.

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Incorrect size reported in MLS
NOTE: If you see a listing of 1330 sq ft, this could be incorrect. National ANSI standards for home measurement instructs real estate professionals to measure townhomes from interior wall to interior wall and when following the standard, 1220 sq ft to 1250 sq ft is closer to accurate. When you see 1330 sq ft, this was an error from years ago where the size is copied over and over and over again for new MLS listings. On the interior across wall to wall, it’s 17.2′ across, not 18′.

2017-2018 The Townhomes of Parkoaks Sales Trends
Five (5) Sales from $101,000, $116,500, $116,500, $116,500 to $119,000
Median Sales Price $116,500
Median Sold Price Per Sq. Ft.: $89/sf
Average Sold Price: $113,900
Average Sold Price Per Sq. Ft.: $88/sf
Homes Sold From $78/sf to $94/sf
Median SP/LP% 98%
Average SP/LP% 95%
Median Days On Market: 56 Days
Average Days On Market: 79 Days
Average Home Sold Is 3 Bedrooms, 2 Baths, 1,421sf

The “Median SP/LP% 98%” or “Average SP/LP% 95%” Listing To Sales Price Ratio means the average home sale sold for 2% and 5% less than listing prices.

Seller Paid Concessions means the numbers above are overinflated.
This means when a unit sells for $116,500 but seller has to pay $4,000 of buyer’s closing cost, it actually sold for $112,500. This means when a unit sells for $119,000 but seller has to pay $5,800 of buyer’s closing cost, it actually sold for $113,200. When Appraisers use these sales as comparables, they deduct the seller paid concessions.

The Townhomes of Parkoaks Current Listings
There’s two (2) pending or under contract listings, listed for $118,000 and $120,000

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Follow Bill Cobb Appraiser on Youtube for Baton Rouge Condos and Townhomes housing video updates
https://www.youtube.com/user/batonrgcondostownhms/videos

Baton Rouge Condos and Townhomes YouTube Channel

 

Based on information from Greater Baton Rouge Association of REALTORS®\MLS for period 01/01/2017 to 06/13/2018, extracted on 06/13/2018.

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The Baton Rouge Condos and Townhomes Website is a an information resource provided by local Baton Rouge Home Appraiser, Bill Cobb, and Accurate Valuations Group LLC 225-293-1500. Bill has more than 20 years experience as a Residential Appraiser and updates his local network of sites with reports, videos and audio reviews of local housing market conditions mostly at http://www.batonrougehousingreports.com/

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