Thirteen super high-end homes attracted buyers in 2012 - and at least four homes above $850,000 already sold this year.
Lafayette Parish's super luxury housing market in 2012 didn't set the world on fire - certainly not like overall home sales did - but some very pricey homes changed hands. One, 106 Riverbriar Drive, sold for a whopping $3 million.
Homes in the $800,000-plus category sat for an average of almost 27 months, an increase from the 20-month supply in 2011, according to the Multiple Listing Service. "In the very high-end, $800,000 and up, there were 13 home sales reported to the MLS in 2012," says Van Eaton & Romero CEO Bill Bacqué. "As we began 2013 there were 28 active listings on the market in this price range. At that rate of absorption, that equates to a roughly 26-month supply."
The super high-end category seems to be greatly oversupplied with inventory relative to current demand, but Bacqué says that isn't unusual in the local marketplace. While the supply did increase in 2012, the increase was not very dramatic, he adds.
What's more, he maintains, that in no way reflects negatively on the strength of the local real estate market. Moving away from the "very" high to the high end, those in the $300,000 and above range, the trend tracks pretty closely with the overall market's growth.
In his monthly analysis, Bacqué ranks any home in Lafayette Parish that sells for $300,000 or more in the higher-end category. In 2012, the overall number of Lafayette Parish home sales reported to the MLS grew 22.5 percent from 2011 to 2012, while home sales above $300,000 grew by 23.5 percent. "I expect the market dynamics to remain as strong in 2013," Bacqué says.
There is, however, some anecdotal evidence the super luxe category could have a breakout year: At least four listings above $850,000 have already sold this year: 902 Richland Ave. ($1.28 million), 155 Shannon Road ($2.43 million), 115 Brookshire Gardens ($1.16 million) and 201 Sawgrass Lane ($880,000).
[Editor's Note: This year ABiz introduces what will be an annual feature on the parish's most expensive home sales. Primarily based on sales reported to the MLS, the list also includes information gathered from public records at the Lafayette Parish courthouse and the Lafayette Parish Tax Assessor's office, as well as a number of local sources.]
Lafayette Parish's Top 10 Home Sales of 2012
1 Address: 106 RIVERBRIAR DRIVE, $3,000,000 Subdivision: GREENBRIAR ESTATES Bedrooms/Baths: 4 Bedrooms, 5 Baths Total Square Footage: 6,905 Price Per Square Foot: $434.47 Year Built: 2000 Seller: Dwight Andrus Jr. Buyer: Benton and Sonya Knobloch Listing Agent: Matt Andrus Selling Agent: Kim Dupuis Closed: July 6
2 Address: 301 BEVERLY DRIVE, $1,805,000 Subdivision: BENDEL GARDENS Bedrooms/Baths: 4 Bedrooms, 3 Full Baths, 3 Half-baths Total Square Footage: 6,300 Price Per Square Foot: $286.51 Year Built: 1982 Seller: Jim Adams Buyer: Brian Keith Vesey Listing Agent: N/A Selling Agent: N/A Closed: June 7
3 Address: 408 WORTH AVE., $1,275,000 Subdivision: RIVER RANCH Bedrooms/Baths: 4 Bedrooms, 4.5 Baths, Total Square Footage: 4,291 Price Per Square Foot: $297.13 Year Built: 2004 Seller: Robert Lapidus Buyer: Andy and Mary Martin Listing Agent: Melanie Lunn Selling Agent: Frances Prejean Closed: March 16
4 Address: 116 JEAN BAPTISTE DRIVE, $1,100,000 Subdivision: VERMILION ESTATES (price includes extra lot) Bedrooms/Baths: 7 Bedrooms, 6 Baths, Total Square Footage: 6,087 Price Per Square Foot: $180.71 Year Built: 1986 Seller: Bill and Beth Busbice Buyer: Technical Industries Inc. Listing Agent: Deborah Foreman Selling Agent: Mohamad Bahlawan Closed: April 30
5 Address: 417 BILTMORE WAY, $1,100,000 Subdivision: RIVER RANCH Bedrooms/Baths: 4 Bedrooms, 4.5 Baths Total Square Footage: 4,634 Price Per Square Foot: $237.38 Year Built: 2006 Seller: Shannon Hagan Buyer: Kelsey E. Roberson Intervivos Trust Listing Agent: Joan Navarre Selling Agent: Kenneth Simeral Closed: June 22
6
Address: 224 BLUE RIDGE DRIVE, $1,050,000
Subdivision: LEXINGTON HEIGHTS
Bedrooms/Baths: 4 Bedrooms, 4 Baths
Total Square Footage: 4,370
Price Per Square Foot: $240.27
Year Built: 2006
Seller: Thomas and Karen Juneau
Buyer: Phillip and Serisa Jaudon
Listing Agent: Tiffany Chiasson
Selling Agent: Ceresa Walker
Closed: Aug. 10
7 Address: 310 OAKWOOD DRIVE, $920,000 Subdivision: BLUE BAYOU ESTATES Bedrooms/Baths: 4 Bedrooms, 4.5 Baths Total Square Footage: 4,032 Price Per Square Foot: $228.17 Year Built: 1982 Seller: Michael and Ongel Aldridge Buyer: Gregg and Barrow Barre Listing Agent: Sharon Henderson Selling Agent: Joan Navarre Closed: March 15
8 Address: 803 RICHLAND AVE., $910,000 Subdivision: RIVER RANCH Bedrooms/Baths: 5 Bedrooms, 3.5 Baths Total Square Footage: 4,139 Price Per Square Foot: $219.86 Year Built: 2001 Seller: Joel Angelle Buyer: Mark Landry Listing Agent: Charlie Baudoin Selling Agent: Priscilla Feinberg Closed: March 5
9
Address: 201 HIDDEN GROVE PLACE, $900,000
Subdivision: THE GROVE
Bedrooms/Baths: 5 Bedrooms, 4 Baths
Total Square Footage: 4,110
Price Per Square Foot: $218.98
Year Built: 2005
Seller: Karol Fleming
Buyer: Thomas and Kendra Desormeaux
Listing Agent: Tiffany Chiasson
Selling Agent: Charlie Baudoin
Closed: Aug. 31
10 Address: 205 TURTLEDOVE TRAIL, $899,000 Subdivision: AUDUBON PLANTATION Bedrooms/Baths: 4 Bedrooms, 3.5 Baths Total Square Footage: 4,265 Price Per Square Foot: $210.79 Year Built: 2012 Seller: Shivers Brothers Buyer: Mark and Tyla Hudspeth Listing Agent: Brandon Landry Selling Agent: Maurice Hannie Closed: May 24