What’s really going on in the local real estate market? We have your latest update here!
While our daily business may look different than it did at the start of the year, real estate transactions are happening every day. In fact, the local greater Baton Rouge real estate market, so far, has not seen the dramatic reductions in activity that many across the country have experienced.
Let’s take a closer look…
The data below is a summary of sold residential properties for the first half of 2020 (January-June), compared to the same time period in 2019.
Residential Properties only. Report pulled 07/09/2020 covering all GBRAR MLS and reflects the first 6 months of residential activity each year.
While unit sales are down slightly so far in 2020, the dollar sales represented a 1% increase. The average sales price continues to increase, reflecting a 2.8% rise for the first 6 months of 2020. Average days on the market remained steady, as did the percent of sale price to list price. Inventory still remains low, reflecting a 4.2 month supply.
This means that if no new homes were to be placed on the market, it would take 4.2 months for every current listing to sell. The real estate industry considers a 6 to 8 month supply of inventory to be healthy.
This means that if you are considering selling your home, now is a great time to list your house, as the demand is still great.
Mortgage rates are still historically low for buyers and housing demand is strong for sellers. Both scenarios provide great opportunities for those looking to buy, sell or invest in real estate right now.
Coldwell Banker ONE Realtors are proud to be your trusted real estate advisors 💙🏡 We are taking extra precautions to make sure that we, and our clients, are safe. And, we are here to provide you the same excellent service, while meeting your specific needs.
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!
5025 Bluebonnet Blvd, Baton Rouge, LA 70809
16573 Airline Highway, Prairieville, LA 70769