‘Real Estate Weekly’: La. home sales end 2011 up 4.8% on the year

Riding an 11.7% increase in the fourth quarter, home sales across the state ended 2011 up 4.8% over 2010 figures, according to Louisiana Realtors. The average sales price was $180,846 in 2011, down 1.8% from the previous year. The Houma-Thibodaux market saw the largest increase in sales in the state, up 18.9% over 2010; followed by Lake Charles, up 9.5%; the Greater New Orleans metro area, up 9.3%; and the Greater Baton Rouge area, up 3.7%, which is slightly higher than the roughly 3.3% sales growth the Greater Baton Rouge Association of Realtors reports for 2011. Both the state and local associations lump eight parishes into the Baton Rouge region; the state association, however, includes St. Helena Parish and excludes Livingston Parish, while the GBRAR does the opposite. GBRAR reports a larger average sales price locally than the state average in 2011, at $190,245, but it was nonetheless down about 2.7% from the year previous. According to Louisiana Realtors, the northwest part of the state was the lone area to see sales declines in 2011, with the Shreveport-Bossier City area down 3.7%. Monroe was the only area to see sales slip in the fourth quarter (down 4.7%), but still ended the year up 2%; in contrast, a strong fourth quarter for the Alexandria area (up 4.4%) pushed 2011 sales over 2010 figures by a scant 0.3%. Lafayette ended the year up 2.9%. Read the rest of the Real Estate Weekly e-newsletter here.