Springwood Estates Home Sales
This week’s West Bank real estate market report is focused on Springwood Estates home sales. While there has never been a huge turnover in the Belle Chasse neighborhood, sales for the last couple of years have certainly been lagging.
Single family and vacant land sales
After peaking in 2013 with 9 homes sold at an average price of $470,556, sales this year have been limited to one home that sold for $460,000. Part of the reduction, however, can certainly be attributed to the low number of available properties currently listed for sale.
On the other hand, vacant land sales were strong in 2014 and 2015, so expect to see an increased number of new construction homes underway in the neighborhood. While there has been only 1 land sale this year, it was at the highest price we’ve seen over the last 5 years.
Overall, prices are up while sales are down in Springwood, which has faced some stiff competition from the Parks of Plaquemines development just down the road. Since the Parks of Plaquemines offers amenities that Springwood Estates does not, they are certainly siphoning off a percentage of potential buyers that are interested in getting more bang for their HOA buck.
That said, Springwood Estates is holding steady in value and remains a good investment for Belle Chasse home buyers.
Springwood Estates Homes for Sale