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Good Real Estate Year

Low interest rates drives sale of homes in Vermilion Parish

For the second year in a row, the real estate business in Vermilion Parish is strong, based on the Realtors Association of Acadiana Multiple Listing Services (MLS) data.
James Noel Jr. of Sunrise Realty, LLC in Abbeville provided the Abbeville Meridional with numbers of 2019 and 2020 real estate market in Vermilion Parish.
The sale of single-family detached dwellings (not counting mobile homes) stayed about the same from 2019.
According to MLS, 359 homes were sold in Vermilion Parish in 2019. In 2020, there were 354, which is five less than a year ago.
In 2018, however, 275 homes were sold.
Three real estate companies in Vermilion Parish felt 2020 was a good year for them. What drove the successful year? Low-interest rates.
“We had an excellent year,” said James Noel Jr., owner of Sunrise Realty LLC..
Kathy Dyson of Kathy Dyson Realty enjoyed 2020.
“It was a very good year,” said Kathy Dyson.
“I had a really, really good year,” said Betty LeBlanc of Bettly LeBlanc Realtor. “I thought it would have been a bad year.”
All three agree that the market was good due to the low-interest rates that remained all year.
The hot spot to buy a home in 2019 was the Maurice area. No longer. That area saw a decline of 40 fewer homes sold in 2020.
The new king of the hill in Vermilion Parish is the Abbeville area.
The Abbeville area extends near Meaux, Esther, Perry and northeast along La. Hwy 338 as well as the city itself.
In 2019, that area only had 136 homes sold. In 2020, 23 more homes were sold for a total of 159 homes.
The Abbeville area, which has the 70510 zip code, sold more homes than the Maurice and Erath areas combined.
There were 98 homes sold in Maurice and 32 in Erath.
There were 44 homes sold in Kaplan, which was 10 more than a year ago.
The average price of homes sold in 2020 was $173,600, which was $3,600 more than a year ago.
The highest price home sold in 2020 was for $580,000 in Vermilion Oaks Subdivision.
The average marketing time in Vermilion Parish is 104 days, six days less than 2019.
The average size home sold in Vermilion Parish was 1,829 square feet.

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