2018 saw increased number of homes sold
The laws of supply and demand indicate those looking to sell a home in St. Charles Parish are in luck.
Veteran Realtors Wendy Benedetto and Regina Allemand concur the inventory of homes for sale in the parish is low, with Allemand noting there are just 63 residential properties active and 58 currently pending a sale. This follows 2018’s number of homes sold spiking in the parish, indicating homes in the area are as desirable as ever.
“I’d say the encouragement to list a home now is there,” Benedetto said. “Our inventory’s down 35 percent, and people are paying a bit more to get into a house because of that. We were up 14 percent on closed units last year, but I think that number would be so much better if the inventory was there.”
Allemand said she believes there will be an increase in homes listed following Mardi Gras, though, and called it “an exciting time” for the real estate market in St. Charles.
“It’s a time of anticipation as we’re realizing a time of growth in new construction in many price ranges, and revitalization of older homes getting remodeled and sold,” Allemand said. “We find buyers in an array of age groups.”
Allemand described the diverse types of parish home buyers in St. Charles, young and old, and that opportunities to meet their needs tend to materialize sooner rather than later.
“First-time home buyers are able to enjoy the still low interest rates and move-up buyers taking on their larger homes to accommodate a growing family and lifestyles – and older buyers who may be downsizing or getting a second home,” Allemand said.
Benedetto said her numbers show that the average price of homes sold in St. Charles Parish dropped from $228,670 in 2017 to $221,409 last year, while the total number of homes sold increased from 464 to 532. In 2018, there were 246 homes sold on the East Bank (average price of $229,500) and 286 on the West Bank (average price of $214,435).
“I think when you look at our parish, our schools are still No. 1 out here, and we’re moving forward with the flood insurance stuff (lowered rates) and there’s no issue with all of that now. So it’s pretty encouraging” – Wendy Benedetto
“I think when you look at our parish, our schools are still No. 1 out here, and we’re moving forward with the flood insurance stuff (lowered rates) and there’s no issue with all of that now. So it’s pretty encouraging,” Benedetto said.
She also said the average number of days a home was listed before being sold dropped, from 53 in 2017 to 43 in 2018.
Those numbers, she said, are a bit skewed toward a higher mark in part because some homeowners aim for too high a price when listing their property. There were 45 properties that were listed in 2018 that crossed the 365 day mark, which pulls the average higher, but she added 278 homes sold within 30 days and 80 more sold between 30 and 60 days.
“If you’re drastically overpricing your home, it won’t go. It will sit,” Benedetto said.
She added that whether selling or buying a home, one is taking a big chance if they do so without consulting a realtor.
“A realtor’s importance is in protecting clients,” Benedetto said. “It’s nothing to play with. You wouldn’t go to an ear doctor for a heart problem.”
2018 Real Estate
- There were 532 residential sales in St. Charles Parish in 2018, compared to 464 in 2017.
- The average sales price for homes in St. Charles Parish was $221,409 in 2018 vs. $228,670 in 2017.
- The average home spent 43 days on the market in 2018, compared to a 53 days on the market in 2017.