Acadiana Business

Coldwell report: home sales in statistical dead heat

by Leslie Turk

Local real estate firm's research finds residential market unchanged in last three years.

Coldwell Banker Pelican Real Estate COO Steven Hebert says Lafayette Parish home sales continue to be solid through the end of the third quarter. Without the Homebuyer Tax Credit stimulus of last year, sales have been more seasonal and organic, he notes, especially compared to the wild first half and dull hangover of the last half of 2010.

"Slow and steady seems to be the rule of the day. And it appears the numbers will equal out to roughly the same results we had by December of last year," Hebert says.

Through the first three quarters of 2011, there have been 1,641 sales at a total of $327 million. This compares with 1,736 sales and $326 million last year and 1,710 sales and $336 million in 2009. With these numbers so close together, Hebert is declaring a "statistical dead heat."

"It's obvious our market has remained largely unchanged during the last three years," says the executive, who just announced that he will release monthly, quarterly and annual reports on his blog. The reports are accompanied by charts and graphics to illustrate trends and activity in the market. In this month's blog post, Coldwell associate Sue Dupont also reports on growth in St. Martin Parish.

Reports will be available around the 15th of each month; the annual report will post in January.

Read this month's post here.