Residential real estate in Lafayette Parish did it again in 2014, besting 2013’s total sales of 3,184 homes by 3.2 percent to set yet another record. The dollar value of homes reported to the Multiple Listing Service in Lafayette Parish rose about 7.8 percent, increasing from $674.2 million in 2013 to $726.9 million last year. Buoyed by a strong December dollar volume increase of 13.3 percent, average and median sales prices also outperformed 2013.
The real story of the year, however was new home sales, which posted a remarkable 22 percent increase. In all, 1,116 new homes were built and sold in Lafayette Parish alone last year, totalling $278 million, with an average sales price of $249,500. The year before 988 homes were built and sold for $228 million, with an average price of $231,000.
Probably not wise to bet on another record this year. “Anything and everything you have heard in the last 25 years about the diversification of the Lafayette and Acadiana economy will be put to its biggest test in 2015,” Coldwell Banker Pelican Real Estate’s Steven Hebert writes in his year-end report. “Uncertainty looms against a background of drastically falling crude oil prices.”
Still, we’re mighty content with the year that was. And once again, ABiz looks back on the biggest home sales of the year.
LAFAYETTE PARISH’S TOP 10
1. $3.73 MILLION
ADDRESS: 2617 Robley Drive (includes additional acreage) SUBDIVISION: N/A BEDROOMS/BATHS: 6 bedrooms/6 full baths, 2 half TOTAL SQUARE FOOTAGE: 10,000 PRICE PER SQUARE FOOT: $372.50 YEAR BUILT: 21-30 years old SELLER: William J. Dore BUYER: Delmar Roman Crochet and Rickie Landry Crochet LISTING AGENT: Janet Begneaud, Van Eaton & Romero SELLING AGENT: Paula Gamble, Van Eaton & Romero CLOSED: 4/10
2. $2.33 MILLION
ADDRESS: 157 Shannon Road SUBDIVISION: Greenbriar Estates BEDROOMS/BATHS: 6 bedrooms/5 full baths, 1 half TOTAL SQUARE FOOTAGE: 7,011 PRICE PER SQUARE FOOT: $331.62 YEAR BUILT: 21-30 years old SELLER: Daryl G. Byrd and Laura E. Byrd BUYER: Theo B. Bean Jr. Family Trust LISTING AGENT: Melanie Lunn, Van Eaton & Romero SELLING AGENT: Deborah Foreman, Keaty Real Estate CLOSED: 11/21
3. $1.3 MILLION
ADDRESS: 410 Biltmore Way SUBDIVISION: River Ranch BEDROOMS/BATHS: 4 bedrooms/4 full baths, 1 half TOTAL SQUARE FOOTAGE: 3,691 PRICE PER SQUARE FOOT: $350.85 YEAR BUILT: 2008 SELLER: Gwendolyn A. Rieber BUYER: Michael Joseph Schutte and Mary Jo Stalter Schutte LISTING AGENT: Frances Prejean, Southern Lifestyle Realty SELLING AGENT: Sara Whitney, Van Eaton & Romero CLOSED: 9/8
4. $1.21 MILLION
ADDRESS: 234 English Gardens Pkwy. SUBDIVISION: Brookshire Gardens BEDROOMS/BATHROOMS: 6 bedrooms/4 full baths, 2 half TOTAL SQUARE FOOTAGE: 5,040 PRICE PER SQUARE FOOT: $240.87 YEAR BUILT: 2012 SELLER: James Timmy Bearb and Karen OReilly Bearb BUYER: Frank C. LeBlanc and Patricia Borison LeBlanc LISTING AGENT: Corrine Dupont and JoEllen Coussan, Van Eaton & Romero SELLING AGENT: Tonya Ellis, Van Eaton & Romero CLOSED: 9/4
5. $1.14 MILLION
ADDRESS: 205 Waterside Drive SUBDIVISION: Fernewood BEDROOMS/BATHROOMS: 4 bedrooms/4 full baths TOTAL SQUARE FOOTAGE: 4,653 PRICE PER SQUARE FOOT: $243.93 YEAR BUILT: 1998 SELLER: William Stanley Hawthorne BUYER: Neal Guidry Onebane and Donna Marie McGee Onebane LISTING AGENT: Melanie Lunn, Van Eaton & Romero SELLING AGENT: Adam Angers, Keaty Real Estate CLOSED: 3/6
6. $1.05 MILLION
ADDRESS: 901 Richland Ave. SUBDIVISION: River Ranch BEDROOMS/BATHROOMS: 4 bedrooms/3 full baths, 1 half TOTAL SQUARE FOOTAGE: 4,299 PRICE PER SQUARE FOOT: $244.24 YEAR BUILT: 11-15 years old SELLER: Stephen M. Sullivan and J’annine Louise Sullivan BUYER: Joshua Scott Landes and Christine Marie Landes LISTING AGENT: Roz Kenny and Marianne Steckler, Van Eaton & Romero SELLING AGENT: Carole Horn, Van Eaton & Romero CLOSED: 11/3
7. $1.05 MILLION
ADDRESS: 203 Worth Ave. SUBDIVISION: River Ranch BEDROOMS/BATHROOMS: 5 bedrooms/4 full baths, 1 half TOTAL SQUARE FOOTAGE: 3,977 PRICE PER SQUARE FOOT: $262.76 YEAR BUILT: 2010 SELLER: John D. Escott and Shauna B. Escott BUYER: John Milton Egle and Beverly Hebert Egle LISTING AGENT: Bill Stephens, Van Eaton & Romero SELLING AGENT: Bill Stephens, Van Eaton & Romero CLOSED: 3/26
8. $985,000
ADDRESS: 106 Glenleven Drive SUBDIVISION: Fernewood BEDROOMS/BATHROOMS: 6 bedrooms/5 full baths, 2 half TOTAL SQUARE FOOTAGE: 5,703 PRICE PER SQUARE FOOT: $172.72 YEAR BUILT: 1997 SELLER: David G. Rainbolt and Gayelyn Rush Rainbolt BUYER: Gaylyn Rae Lombard Hebert LISTING AGENT: Deborah Foreman, Keaty Real Estate SELLING AGENT: Emily Babineaux, Par Realty CLOSED: 10/30
9. $950,000
ADDRESS: 428 Shelly Drive SUBDIVISION: Whittington Oaks BEDROOMS/BATHROOMS: 4 bedrooms/four full baths, 2 half TOTAL SQUARE FOOTAGE: 5,471 PRICE PER SQUARE FOOT: $173.64 YEAR BUILT: 41-50 years old SELLER: Michael W. Musso and Anna D. Musso BUYER: Joshua Lee Proffitt and Susan Taylor Proffitt LISTING AGENT: Teresa Hamilton, Van Eaton & Romero SELLING AGENT: Eliana Ashkar, Van Eaton & Romero CLOSED: 6/5
10. $900,000
ADDRESS: 120 English Gardens Pkwy. SUBDIVISION: Brookshire Gardens BEDROOMS/BATHROOMS: 4 bedrooms/4 full baths, 1 half TOTAL SQUARE FOOTAGE: 4,130 PRICE PER SQUARE FOOT: $217.92 YEAR BUILT: New SELLER: Kenneth Wayne Bernhard Jr. and Rohini Sood Bernhard BUYER: Courtney Lynn Meagher LISTING AGENT: Matt Andrus, Dwight Andrus Real Estate SELLING AGENT: Matt Andrus, Dwight Andrus Real Estate CLOSED: 6/12
Source: All information obtained through public records
What’s Missing?
Not on this year’s list is one of the largest residential transactions of the year, 421 Biltmore Way in River Ranch, a private sale not run through the Multiple Listing Service. ABiz was unable to determine the exact sales price (the price is recorded as $1,000 “and good and valuable considerations” in the parish courthouse). Real estate sources, however, confirm that the home sold for more than $500 a square foot, potentially a record for River Ranch. City-parish permitting records indicate the home has 6,685 square feet of living space, which would value the transaction at about $3.34 million on the lower end. A recording in the tax assessor’s office dated Sept. 29 notes that the seller was J. Michael Poole Sr. and Terri M. Poole and the buyer Melanie Christine Mosing.