Local Real Estate Market Update

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With the first half of 2018 behind us, we want to bring you the latest real estate market update.  The summary below compares the first six months of 2018, compared to the same time period in 2017:
FIRST 6 MONTHS OF 2017
FIRST 6 MONTHS OF 2018 CHANGE
TOTAL UNIT SALES
5707 5297 down 7.2%
TOTAL $ SALES
$1,205 million $1,183 million down 1.8%
AVERAGE SALE PRICE
$209,081 $222,495 up 6.4%
MEDIUM SALE PRICE
$182,608 $196,714 up 7.7%
AVG. DAYS ON THE MARKET
54 days 62 days up 8 days
% SALE PRICE / LIST PRICE
97.10% 97.64% no change
NUMBER OF ACTIVE LISTINGS (JUNE, 2018
4658 units 5572 units up 19.6%
MONTHLY SUPPLY OF INVENTORY (JUNE, 2018)
4.06 months 5.36 months
The above statistics compare sales of residential properties in 2017 and 2018.  The data was pulled on 7/10/18 from the Greater Baton Rouge Association of Realtors (GBRAR) MLS and only includes residential sales.

 

The figures above show that our unit sales were down just over 7% and dollar sales nearly 2%. This really is not a big surprise, as the beginning of 2017 was very active with the flooded and gutted homes being purchased mostly by investors. People that were flooded were also looking for an alternative home to buy. On the other hand, the average sale price is up just over 6% at $222,495, and the medium sale price was $196,714 reflecting an increase of nearly 8%.
One of the drawbacks of our real estate market over the past couple of years has been a lack of inventory. This trend continued in 2018, but does show signs of improving. Last month our inventory showed a jump of nearly 20% over the same period last year with active residential listings at 5572 units. From a supply standpoint, this inventory represented 5.36 months’ supply compared to just over a 4 month supply in June of 2017. The real estate industry considers a 6 to 8 month supply of inventory as healthy. This increase does mean that buyers are having more choices and are taking more time to look around.
Overall, we believe or market remains healthy and should continue that trend as we move through the remainder of 2018. Unemployment is low, jobs are available and (although we have seen some movement in interest rates) rates remain historically low.

Because inventory is increasing, it is very important to price a property competitively and consider making those necessary repairs or updates that will make your home more marketable. 

Coldwell Banker ONE Realtors are your local real estate experts.  Call today for a free market analysis! 

We are more than just your Realtors;

We are your neighbors!

Coldwell Banker ONE Realtors are your local real estate experts.  We service the entire greater Baton Rouge and surrounding areas, including Ascension Parish, Livingston Parish, East Feliciana Parish, West Feliciana Parish, East Baton Rouge Parish, and West Baton Rouge Parish, Iberville Parish, Point Coupee Parish, and St. Helena Parish.

Do you own a home in the greater Baton Rouge or surrounding areas?  Are you looking to buy a home here?  Do you just want to know more information about our local real estate market?  Coldwell Banker ONE Realtors have got you covered!

Start your home search at www.ColdwellBankerOne.com 

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5025 Bluebonnet Blvd, Baton Rouge, LA 70809

16573 Airline Highway, Prairieville, LA 70769

225-925-2500

ColdwellBankerOne.com


Author: David G. McKey, Coldwell Banker ONE Broker/Owner
Data Source: Greater Baton Rouge Association of Realtors MLS. 7/10/2018
The information above is believed to be accurate but not guaranteed.
Coldwell Banker ONE is independently owned and operated.  Licensed in Louisiana.
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Jeff Furniss Receives Recognition by Real TRENDS’ The Thousand

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(Baton Rouge, Louisiana, July, 2018) Coldwell Banker ONE Realtors, Jeff Furniss was named among the top real estate agents in the country for individual transaction sides by REAL Trends The Thousand.

The Thousand ranking, which is advertised in The Wall Street Journal, is a REAL Trends exclusive ranking of the top agents across the United States.

Jeff Furniss ranks number 166 in the country for number of closed sides, with 148 transaction sides closed in 2017.   As a reference, the average residential real estate agent in the United States closed 10 transaction in 2017.  Not only is Jeff recognized as a top real estate professional in the country, he is one of only four Realtors in the state of Louisiana to achieve this honor.

“Being recognized as a top real estate professional in the nation is an incredible accomplishment. Jeff is an outstanding Realtor, and he does an exceptional job for his clients and customers,” said Coldwell Banker ONE Broker, David McKey. “His hard work, dedication, and attention to detail exemplify what we at Coldwell Banker ONE look for in a professional Realtor. I am very proud to call Jeff a Coldwell Banker One Realtor.”

Information about Jeff Furniss’s recognition can be found online at RealTrends.com.

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About Coldwell Banker ONE – Coldwell Banker ONE is independently owned and operated and services the entire greater Baton Rouge and surrounding areas, including Ascension Parish, Livingston Parish, East Feliciana Parish, West Feliciana Parish, East Baton Rouge Parish, and West Baton Rouge Parish, Iberville Parish, Point Coupee Parish, and St. Helena Parish. There are two Coldwell Banker ONE office locations, and 100 professional Coldwell Banker ONE Realtors available to serve the real estate needs of the greater Baton Rouge area. Start your home search at www.ColdwellBankerOne.com or call 225-925-2500.
Baton Rouge: 5025 Bluebonnet Blvd, Baton Rouge, LA 70809
Ascension Parish: 16573 Airline Hwy, Prairieville, LA 70769

Coldwell Banker Commercial ONE Realtors attend RECon

Coldwell Banker Commercial ONE Realtors ( Baton Rouge, La ) with CBC President, Fred Schmidt
PICTURED: Coldwell Banker Commercial ONE Realtors, David Trusty and David Palmer, with Coldwell Banker Commercial Worldwide President, Fred Schmidt, at the Coldwell Banker Commercial booth at RECon.

Coldwell Banker Commercial ONE Realtors from Baton Rouge, Louisiana, David Trusty and David Palmer attended the recent Global Retail Real Estate Convention, RECon, in Las Vegas, Nevada.  The world’s largest global gathering of retail real estate professionals, RECon hosted 37,000 industry professionals for a three-day convention that provided an opportunity for Coldwell Banker Commercial ONE Realtors to showcase their property listings, network, and learn from other industry professionals.

Learn more about Coldwell Banker Commercial ONE, and how their expertise can help you reach your commercial real estate goals by visiting www.CBCommercialOne.com or calling 225-925-2300!


About Coldwell Banker Commercial ONE
Coldwell Banker Commercial ONE has been serving Louisiana since the 1940s. The firm’s well-trained, full time, professional commercial Realtors are prepared to give their clients the best service in the industry.  For additional information, call 225-925-2300 or visit www.CBCommercialOne.com
About Coldwell Banker Commercial
Coldwell Banker Commercial® is a registered trademark licensed to Coldwell Banker Real Estate Corporation. Since 1906, the Coldwell Banker Commercial brand has been a premier provider of real estate, recognized globally as a company that puts the client first while delivering individual, distinctly different service. Coldwell Banker Commercial affiliates cover territory throughout North America, South America, Europe, Africa, Asia and Australia. Coldwell Banker Commercial is an industry leader in providing commercial real estate solutions that serve the needs of tenants, landlords, sellers and buyers in the leasing, acquisition, disposition and management of all property types. Each office is independently owned and operated. For more information, visit: www.cbcworldwide.com.

Angi Bourque Earns SRS and ABR Designations

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Angi Bourque a Realtor with Coldwell Banker ONE, has been awarded the Seller Representative Specialist (SRS) designation and the Accredited Buyer’s Representative (ABR) designation.  Both are official credentials of the National Association of REALTORS®.

The ABR designation represents the benchmark of excellence in buyer representation, and the SRS designation is the premier seller agency designation in the country.

Angi joins an elite group of real estate professionals around the world who have earned both the the ABR and SRS designations.  All were required to successfully complete necessary courses, pass comprehensive exams and subscribe to the REALTOR® Code of Ethics.

“Angi is a true professional Realtor,” said Coldwell Banker ONE Broker/Owner, David McKey. “She is committed to continued education and dedication to satisfying the needs of her clients by providing them with the highest level of support and knowledge available.”

Angi is a full-time Coldwell Banker ONE Realtor who specializes in real estate in the Baton Rouge area and surrounding areas.  She is a lifelong resident of Ascension Parish.

See more about Coldwell Banker ONE Realtor, Angi Bourque, and search all homes for sale in our market by visiting www.WorkWithBourque.com

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Coldwell Banker ONE Realtors are your local real estate experts.  We service the entire greater Baton Rouge and surrounding areas, including Ascension Parish, Livingston Parish, East Feliciana Parish, West Feliciana Parish, East Baton Rouge Parish, and West Baton Rouge Parish, Iberville Parish, Point Coupee Parish, and St. Helena Parish.
Do you own a home in the greater Baton Rouge or surrounding areas?  Are you looking to buy a home here?  Do you just want to know more information about our local real estate market?  Coldwell Banker ONE Realtors have got you covered!

Start your home search at www.ColdwellBankerOne.com 

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5025 Bluebonnet Blvd, Baton Rouge, LA 70809

16573 Airline Highway, Prairieville, LA 70769

225-925-2500

ColdwellBankerOne.com

Independently owned and operated.  Licensed in Louisiana
SRS is wholly owned by REBI and focuses specifically on representing the real estate seller. Founded in 1968, REBI is a not-for-profit affiliate of the National Association of REALTORS®. You may contact REBI by telephone, 800-621-8738, by e-mail, [info@rebinstitute.com], or by visiting the SRS website, [www.SRSCouncil.com].

Local Real Estate Market Update

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With the first 1st Quarter of 2018 behind us, and spring in the air, we want to bring you the latest real estate market update.  The summary below compares the first three months of 2018, compared to the same time period in 2017:
2017 2018 Change
Total Unit Sales 2550 2260 Down 11.4%
Total $ Sales $500 Million $495 Million Down 1.0%
Avg. Sale Price $195,367 $218,648 Up 11.9%
Median Sale Price $179,000 $194,900 Up 8.9%
Avg. Days on Market 55 Days 65 days Up 10 days
% Sale Price / List Price 97.1% 97.64% No Change
# Active Listings (March) 4382 Units 5068 Units Up 15.7%
Monthly Supply of Inventory (March) 4.21 Months 5.33 Month
The above statistics compare sales of residential properties in 2017 and 2018.  The data was pulled on 4/11/18 from the Greater Baton Rouge Association of Realtors (GBRAR) MLS and only includes residential sales.

Overall, unit sales are up, price is up, inventory is up, and we are moving closer to a balanced local real estate market.

During the first part of 2017, our area was still feeling the impact of the August, 2016 flooding.  Our inventory and average sale price were down, as many of the properties selling were “gutted” homes.  Many of the homes were purchased at a discount by investors who repaired them and put them back on the market.  As you can see above, our unit volume was down by just over 11%, but our average sale price increased by nearly 12%, to just over $218,000.  As demand slowed, the average days on the market increased by 10 days, to a still healthy 65 days.
Our market continued to reflect a strong Sale Price to List Price ratio of around 97%. This percentage has held steady for a number of months.  Lack of inventory has been an issue in our market for a couple of years.  We may now be seeing that trend reverse itself, as March 2018 inventory increased to just over 5,000 units.  This reflects an inventory supply of 5.33 Months, meaning that if no additional home went on the market, it would take 5.33 months for all current active listings to sell.  Although stronger than March of 2017, this still is below what is considered a healthy market of between 6 and 8 months’ supply.
This low inventory may make it tough for buyers who want choices to consider as they search the market for a home to purchase.   At the same time, if you are considering selling your home, now is a great time to list your house, as the demand is still great. 
  

We are more than just your Realtors;

We are your neighbors!

Coldwell Banker ONE Realtors are your local real estate experts.  We service the entire greater Baton Rouge and surrounding areas, including Ascension Parish, Livingston Parish, East Feliciana Parish, West Feliciana Parish, East Baton Rouge Parish, and West Baton Rouge Parish, Iberville Parish, Point Coupee Parish, and St. Helena Parish.

Do you own a home in the greater Baton Rouge or surrounding areas?  Are you looking to buy a home here?  Do you just want to know more information about our local real estate market?  Coldwell Banker ONE Realtors have got you covered!

Start your home search at www.ColdwellBankerOne.com 

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5025 Bluebonnet Blvd, Baton Rouge, LA 70809

16573 Airline Highway, Prairieville, LA 70769

225-925-2500

ColdwellBankerOne.com


Author: David G. McKey, Coldwell Banker ONE Broker/Owner
Data Source: Greater Baton Rouge Association of Realtors MLS. 4/11/2018
The information above is believed to be accurate but not guaranteed.
Coldwell Banker ONE is independently owned and operated.  Licensed in Louisiana.

Thank you to Assurance Financial for their support of Pat’s Coats for Kids

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Assurance Financial Branch Managers, Van Bush and David Alello, presented Coldwell Banker ONE Broker/Owner, David McKey, with a donation to support Pat’s Coats for Kids.

Assurance Financial Branch Managers, Van Bush and David Alello, presented Coldwell Banker ONE Broker/Owner, David McKey, with a $500.00 donation to support Pat’s Coats for Kids at the Coldwell Banker ONE Bluebonnet office this week.

For over fifteen years, Coldwell Banker ONE has been a major sponsor of Pat’s Coats for Kids.  Throughout each year, Coldwell Banker ONE Realtors donate their time and money to this organization in order to help ensure that no local child goes without a coat each winter.  Through these annual fundraising efforts, Pat’s Coats for Kids has been able to help supply warm coats to thousands of children in the greater Baton Rouge area over the years.

“We are especially grateful to Van Bush, David Alello, and Assurance Financial for their continued support.  The need is great, and this donation helps kick off our 2018 fundraising efforts for Pat’s Coats for Kids in order to meet the growing needs of our area’s children this winter” said McKey.

Click here to see more about Pat’s Coats for Kids, and how you can help.


Coldwell Banker ONE Realtors are your local real estate experts.  We service the entire greater Baton Rouge and surrounding areas, including Ascension Parish, Livingston Parish, East Feliciana Parish, West Feliciana Parish, East Baton Rouge Parish, and West Baton Rouge Parish, Iberville Parish, Point Coupee Parish, and St. Helena Parish.
Do you own a home in the greater Baton Rouge or surrounding areas?  Are you looking to buy a home here?  Do you just want to know more information about our local real estate market?  Coldwell Banker ONE Realtors have got you covered!

Start your home search at www.ColdwellBankerOne.com 

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5025 Bluebonnet Blvd, Baton Rouge, LA 70809

16573 Airline Highway, Prairieville, LA 70769

225-925-2500

ColdwellBankerOne.com

Independently owned and operated.  Licensed in Louisiana

Coldwell Banker ONE Realtors Complete AMP Training

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(Baton Rouge, Louisiana, April, 2018) –  Coldwell Banker ONE Broker/Owner, Andrea McKey, announced today that twenty Coldwell Banker ONE Realtors completed the Coldwell Banker Achieve Maximum Productivity (AMP) Training.

The intensive four-week program equipped these Coldwell Banker ONE Realtors to provide even better service to their clients! 

Elizabeth Bergeron 

Nancy Lemoine 

Kristi McCain

Elydia Poydras

Angela Pitts 

Debra Roberson

Cecilia Rodrigue 

[Click on any Realtor’s name for more information]

AMP is a powerful four-week, live, productivity program that boasts a strong focus on lead generation and learning by “doing.”  It teaches best practices and key resources important for a successful real estate career.  The AMP class results included increased business and productivity, accountability, new relationships and camaraderie.

This industry-leading AMP training is one of the many training opportunities offered at Coldwell Banker ONE.  Our focus is to provide the industry’s best training FREE for every Realtor at every level, because it’s the foundation for every Coldwell Banker ONE Realtor’s continued success.

Start your home search at

ColdwellBankerOne.com


Coldwell Banker ONE Realtors are your local real estate experts.  We service the entire greater Baton Rouge and surrounding areas, including Ascension Parish, Livingston Parish, East Feliciana Parish, West Feliciana Parish, East Baton Rouge Parish, and West Baton Rouge Parish, Iberville Parish, Point Coupee Parish, and St. Helena Parish.
Do you own a home in the greater Baton Rouge or surrounding areas?  Are you looking to buy a home here?  Do you just want to know more information about our local real estate market? Coldwell Banker ONE Realtors have got you covered!

Start your home search at www.ColdwellBankerOne.com 

cropped-cropped-cbone-logo-fixed-2014.jpg

5025 Bluebonnet Blvd, Baton Rouge, LA 70809

16573 Airline Highway, Prairieville, LA 70769

225-925-2500

ColdwellBankerOne.com

Independently owned and operated.  Licensed in Louisiana