A gradual, steady, and continual increase in residents, new households, and home prices is what the St. Tammany Parish Economic Development Foundation (EDF) encountered in a study done of the housing market’s recovery in the parish. From 2003 – 2013, St. Tammany Parish’s population grew from 205,883 – 242,333. Home prices, which rose after Hurricane Katrina to later plummet during the Recession have now seen an increase for the first time since 2007. The average price of a home in St. Tammany Parish in 2013 was $225,540, up from when the housing market hit bottom in 2009.
The St. Tammany Parish EDF also found that the amount of building permits issued for builders in St. Tammany Parish rose 78% since the market bottomed out in 2009. Building permits and existing home sales have increased every year since 2010, they found. Existing homes sold at a 44% higher rate since 2009, according to the report.
Steve Dixon, president of the North Shore Area Board of Realtors, agrees that the market has stabilized, but he thinks the recovery will take a little longer. New housing starts were so scant in the depth of the recession that even modest growth appears significant when looking at percentages, he said.
At Bedico Creek Preserve, a master planned subdivision in St. Tammany Parish, we have seen a phenomenal demand for lots, homes, and building custom homes. Our clients are eager to invest in our community with one of our neighborhoods selling out in just over 1 year. Bedico Creek has since developed lots ready to build in 4 new Neighborhoods, one of which is a builder-exclusive neighborhoods of homes for sale called Cypress Crossing.
At Bedico Creek Preserve, we not only sell new custom homes, but we also sell a unique lifestyle just minutes from shopping, dining, and entertainment in the mall district of Highway 21 and easy access to downtown Covington, Louisiana. Our Conservation Community is developed so that homes that are built and amenities are nestled among and around the green spaces, waterways, and trees. We have designed and built hiking and biking trails that wind throughout a natural wildlife habitat so that when you move to our subdivision, you get to enjoy all that nature has to offer while being able to easily get to your place of work or even downtown New Orleans. If you have not had the chance already, come Visit Our Community or Contact Us at 985-845-4200 or E-mail Info@LiveBedico.com.