The Lake Charles Real Estate market is healthy and stable. Numbers don’t lie! I hate to hear consumers mention in conversation that the Southwest Louisiana Real Estate market is down and how hard it is to sell a house. You have to take things into perspective and consideration. It is important to remember that the Southwest Louisiana housing market is very different from what one hears about or reads about in the national news. While we do experience short sales and foreclosures, they are minimal in comparison to what has happened in other markets nationwide.
If your home is priced right and in good condition it will sell. Buyers are still buying and have their choice of Lake Charles Homes for Sale inventory with low mortgages rates still available. True we have what is known as a buyers market due to the high inventory of homes for sale in Southwest Louisiana. If listings are sitting on the market over 120 days, there is usually a reason why the homes are not selling. However, Lake Charles homes that are not selling cannot be blamed on the Lake Charles economy or national real estate market.
Comparing Lake Charles real estate statistics from March 2010 and March 2011 proves Lake Charles is still stable and the same amount of homes are selling as compared to the previous year. We are actually seeing an increase in higher end homes selling.
Average number of Active Listings = 455
Average Homes Sold Per Week = 14
Average Days on Market = 90
Average Sales Price = $153,615 High Average Sold $309,000
Average number of Active Listings =459
Average Homes Sold per week =13
Average Days on Market =100
Average Sale Price = $154,626 High Average Sold = $408,300
As you will see from the number breakdowns March 2010-March 2011 shows steady Lake Charles real estate numbers with averages very close to the year before.
*Numbers used in this market report are for all areas of Lake Charles including zip codes 70601,70605, 70607
According to the Southwest Louisiana MLS a total of 245 homes were sold in Calcasieu Parish the first quarter of 2010, 16 of which were new construction. In comparison, 256 homes have sold in the first quarter of 2011, 16 of which are new construction.
The Lake Charles Market is stable and continues to thrive. Homes for Sale in Lake Charles are selling!