Parish public officials, including School Superintendent Rick Wentzel, Sheriff Jason Ard, and Livingston Parish President Layton Ricks all say that, despite the devastating flood of 2016, Livingston Parish is still the place to live.
If real estate values are any kind of key performance indicator for those statements, it appears those gentlemen may be correct.
Residential real estate sales are on the rise in Livingston Parish, when compared to a year-over-year basis from 2016 to 2017.
2017 saw just shy of 100 more homes sold in Livingston Parish as compared to 2016, with a higher average price. That equated to a larger total value sold in 2017, or $355.16 million, versus 2016 which saw sales total $336.5 million.
These totals do not include houses that were listed as “For Sale by Owner,” nor mobile homes.
In fact, most valuation metrics increased in the year-over-year comparison, with average home price increasing $2,500 to $184,884 and median home price increasing $2,000 to $174,000.
Flooded and gutted homes skew the data down, however, with most being listed at under $50 per square foot. Those gutted homes sold through the entire year, with some closing as late as December 22, and several hundred remain on the market.
Some agents believe that those pieces of property may not have moved - or were ever considered for sale - unless the owners decided to list and leave the property post-flood.
On the other end of the spectrum, however, 426 homes were sold in 2017 that were less than one year or in construction phase. Those sales accounted for $89.5 million toward 2017’s grand total.
The average price for those homes was $210,192.
This is keeping with a trend of new subdivisions and homes to keep up with increasing demand for residential sites in Livingston Parish. From 2012 through 2016, 1,937 homes that were less than one year in age sold, at an average price of $182,591.
As of February 1, 113 new or proposed home sites are for sale in Livingston Parish, with an average price of $253,877.
McHugh David is publisher and editor of the News. He is also a real estate agent. He can be reached at firstname.lastname@example.org, or you can follow him on Twitter @mchughdavid41.