Baton Rouge’s Maison Orleans Townhomes Sales Update for 2016 provided by Greater Baton Rouge Home Appraiser Bill Cobb 225-293-1500
YES, Maison Orleans DID FLOOD
During the Great Flood of August 2016 as a result of overflow of Clay Cut Bayou, Maison Orleans did flood. And, I just completed an appraisal of a renovated townhome with development, first floor was renovated and second floor was still cosmetically dated. I grew up in Shenandoah Estates from 1972 to 1979 and remember the flood of 1977 vividly, the same overflow of Clay Cut Bayou.
Below: Flood Water Level of Maison Orleans Townhomes Photo Showing 23 inches into units and 4 Feet from ground up photo
Below: Maison Orleans Townhomes close location to Clay Cut Bayou
Units are still being repaired in February 2017
Junk Porsche and motorcycle with flat tires remain indicating development is struggling with cleanup
Progress is being made on recovery
January 2016 to February 11 2017 Maison Orleans Townhomes Sales Trends
3 Sales from $67,000 to $99,500
Median Sales Price $85,000
Median Sold Price Per Sq. Ft.: $75 sq ft
Townhomes Sold From $57 sf to $85 sq ft
Median SP/LP 96 percent
Average Days On Market: 146 Days or almost 5 months
Average Size Townhome Is 2 Bedrooms, 2 Full Bath & 1 Half Bath, 1080 sq ft
Units are measured at 18×30 x 2 Stories
The “Median SP/LP percent 96 percent” or Listing To Sales Price Ratio means the average home sold for 4 percent less than listing price meaning there’s room for negotiation.
*** HOWEVER, Under Contract and renovated units are showing an INCREASE in prices closer to $100,000. ***
As of 02/11/2017, there were 2 pending or under contract listings listed at $94,900 and $102,000
I strongly believe it’s the extremely low inventory of available homes on the market and lack of rentals to rent as to why buyers are now buying these units because these 2 under contract listings were only on the market for 33 days as opposed to 146 days pre-flood.
Based on information from Greater Baton Rouge Association of REALTORS®\MLS for period 02/01/2015 to 02/11/2017, extracted on 02/11/2017.