Livingston Parish has a strong real estate market

Invest in Real Estate with Kayla Johnson

Invest in Real Estate with Kayla Johnson

A little over 6 months have passed since the flood of 2016 and one of the main questions asked immediately following the disastrous event is still asked daily: “What will happen to the Real Estate Market in Livingston Parish?”
As of now, the market has changed in many ways, however it continues to remain a strong and healthy market. Although we still have an abundance of flooded and gutted homes sold, it is unlike the initial sales in which they were more “fire sale” prices. Many of these current homes being sold did in fact have flood insurance, so homeowners are not as pressured to sale.
I also attribute the rise in local sales price to the fact that residents are realizing that while the flood has been devastating to Livingston Parish, our residents have shown great strength and resiliency. Many residents are starting to return to their homes, although in many cases the homes are not 100% complete. This gives other residents the hope and confidence that our parish will survive.
We are also seeing many of the homes that sold early on are now being listed at, as well as selling at higher prices than they would have prior to the flood. In 2016 at this point we had sold a total of 336 homes; in that same period for 2017 we have sold a total of 394 homes. In many of the current sales, the prices have risen a substantial amount. Commercial has sold 4 times the amount of properties in 2017 compared to 2016. Vacant land sales are down compared to 2016, however there are many variables that have affected the land market. Due to the flood, we had several land developments delayed. What lots were available at that time were purchased promptly after the flood by individuals as well as builders knowing the demand for new construction would escalate in 2017. We are presently experiencing a shortage on lots for builders which is a first for our area in many years.
So, my overall opinion of our real estate market in Livingston Parish is that we will continue to remain stable, however we continue to have a shortage of inventory, and homes priced correctly do not last on the market for more than a few weeks after being listed. I feel Livingston Parish will continue to have a strong and stable market for many years to come.

To learn more about buying or selling your home, contact Kayla Lockhart Johnson, Realtor. She is a full time Realtor licensed to sell real estate in Louisiana and an expert in all things real estate related. She also serves as president of the Livingston Board of Realtors. Contact Kayla at 225-413-3762 cell direct or email kaylaandkrewe@gmail.com. Covington & Associates Real Estate, LLC, 1110 S. Range Ave. Denham Springs, La. 70726; office 225-667-3711