Take a number and get in line if you want to buy a home in one of Baton Rouge’s traditional neighborhood developments, Business Report details in a new feature in its current issue .
These TNDs— like The Preserve at Harveston, The Settlement at Willow Grove or Long Farm Village—are some of the hottest residential areas in the real estate market right now, agents say.
Inventory is tight and demand is high, which is driving up home prices in these newer developments more than any other neighborhoods.
“Preserve at Harveston is definitely one of the hottest,” says Trey Willard, an agent at Berkshire Hathaway HomeServices. “For the third phase, they already have lots of letters of intent. And Willow Grove is still rolling. They’re selling out of the last lots they have.”
Further east, Long Farm along Airline Highway is also a highly desirable area, says Heather Kirkpatrick with KDK Capital Region Realty. Kirkpatrick remembers when the subdivision’s per-square-foot home prices started around $180. Now homes are selling at more than $200 a square foot. Real estate agents are seeing similar price appreciation patterns at Willow Grove and The Preserve.
Aside from new developments, though, homebuyers are also flocking to established Baton Rouge neighborhoods. On the higher end, University Club in particular has seen a lot of activity. Homes in more affordable areas—such as Kenilworth, Magnolia Woods, Hundred Oaks or Jefferson Terrace—are also selling quickly.
“I’ve had houses in Jefferson Terrace sell in 12 hours,” says RE/MAX real estate agent Kyle Peterson. “It’s not only new construction but well-established areas, too. If houses are maintained, desirable and priced correctly, they’re selling quickly. Right now 53 percent of our houses are selling within 30 days. In 2015, that number was 25 percent.”
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