The St. Charles Parish residential housing market showed gains in 2015 over the previous year in sales, price and days on market.
“We are having a healthy sales percentage increase with no unnatural spikes, such as the Katrina effect,” area Realtor Regina Allemand said of housing prices. “It’s a healthy increase. It’s a normal rate of growth.”
Allemand pointed to stable employment with area plant expansions, low interest rates and USDA Rural Development loans as factors that supported last year’s steadily improving housing sales. She added not having disasters that required evacuations left residents’ cash reserves available for other purchases.
Last year’s residential property sales increased by 63, rising to 455 over the previous year’s 392 for both East and West banks. Allemand said the majority of these sales fell in the $200,000 to $300,000 price range and averaged fewer days on market.
Wendy Benedetto, Realtor with Latter & Blum, said house prices are stable, but she didn’t see them rising. However, Benedetto agreed residential properties are moving fast on the market.
“A home well maintained and updated will go fairly quickly,” Benedetto said. “We still have relocations coming and going.”
The parish’s average house price also improved, rising to $208,066 from $190,117 the previous year. This jump also improved the square-foot price, increasing to $104,19 up from $96.88.
Days on market improved by 18 days. Last year’s house averaged 68 days on the market compared to 86 days the year prior.
Allemand’s 2016 housing outlook is equally promising.
“We’ve had an increase already,” she said. “People are looking and houses are under contract. Forty-two property sales are pending within the next 30 days compared to this time last year.”
Calls are up, as well as house showings, she said. An early Mardi Gras means getting closer sooner to spring sales, which should also give a healthy boost to this year’s housing market.
Benedetto said market indicators are healthy, particularly properties that meet “price, condition and location” that she says are key to every sale.
She pointed to market hot spots with fast moving properties in Ashton Plantation, as well as Lakewood and Alley Lane subdivisions.
“December was really busy for a lot of people and January is still keeping people busy,” she said. “I think we could use more listings. I think we could use more new construction. If anybody is thinking about selling, now is a great time to put it up. There’s a lot of buyers out there.”
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