“Hub” Factor Helps Opelousas
BOBBY ARDOIN
Editor/Consulting Writer
Property sales are usually tilted towards location and one area realtor feels Opelousas is located in an advantageous spot for marketing residential and commercial land.
Realtor Lana Soileau, who has sold properties for 37 years, told the Opelousas Noon Rotary Club on Tuesday that geographically the city is centrally positioned statewide, an asset that is potentially beneficial to real estate growth.
“(Opelousas) really has the perfect location. We are located along I-49. And (Opelousas) is in the middle of the state, which means it is pretty easy to get to Baton Rouge and other major cities,” Soileau told the Rotarians.
Some local real estate prices have notably escalated over the past several years, with some tracts along the interstate between Opelousas and Lafayette listed for $100,000 per acre, Soileau pointed out.
Residential properties in the Opelousas area are averaging $200,000, but Soileau admitted that movement with the real estate market citywide is unpredictable.
“I would say that (residential) right now is a case of no rhyme or reason,” Soileau mentioned afterward during a separate interview.
“You might have a house in Fort Hamilton for instance, on the market for 200 or so days, while another in Linwood will sell in just a couple of days. It all depends on what or where a buyer is interested in purchasing,” Soileau said.
Overall sales movement in the Opelousas residential market is slower than Lafayette, Soileau noted.
“One thing about sales (in Opelousas) is there are not as many newer homes that are placed on the market. That means that some homes that are for sale need to be redone and that can be expensive, up to $75,000 sometimes to pay for that upgrade,” Soileau said.
An advantage that Opelousas does have is the city is close to Lafayette and prospective purchasers, Soileau acknowledged, have indicated they do not mind driving a longer distance to work due to the total cost benefits.
Prices for homes in Lafayette are normally $100,000 more than the cost of those selling for similar sizes in Opelousas, according to Soileau.
“People are finding that they are getting a bigger bang for their buck. They don’t like getting stuck in the traffic in Lafayette,” Soileau said.
The residential market in Opelousas has also attracted the attention of buyers who originally have no ties to the city, but are captivated by the charm of an older home, said Soileau.
Soileau disagreed with the notion that there are too many residential rental properties in Opelousas.
Most of her inquiries, Soileau said, come from individuals who prefer to rent rather than purchase.
Although there is not that much difference between the monthly rental prices in Opelousas and Lafayette, Soileau added that individuals often prefer to pay rent in order to save on maintenance and perhaps insurance.
Soileau said Opelousas developers should focus on building more condominiums, townhouses and apartment complexes, since there evidententally a thriving market citywide.
Currently Soileau said the biggest detriment to property sales is insurance concerns rather that interest rates.
Insurance companies are especially particular about the condition of roofs, some that Soileau said she examines when selling a business or residence.
While the Opelousas real estate market at this point is static due to the November presidential election, Soileau expects sales to become more robust locally in 2025.
“Right now people are not making any moves until after the election happens. In 2025 we are expecting a banner year. New homes are going up in the Harry Guilbeau (Road) area and with the next Helix School set to begin (in 2025) we are excited about that,” Soileau pointed out.