La. home sales end 2011 up 4.8% on the year

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%.

Editor's note: This story has been changed since its original publication.



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