Local Real Estate Market Update

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With the end of the first quarter of 2017 behind us, it’s time to crunch some numbers and evaluate the local Greater Baton Rouge real estate market this year compared to the same period in 2016.  The numbers below were compiled from reports pulled on April 12, 2017 from the Greater Baton Rouge Association of Realtors MLS and represent residential sales only.

2016

2017

Change

Total Unit Sales

2199

2481

Up 12.8%

Total $ Sales

$469 Million

$485 Million

Up 3.4%

Avg. Sale Price

$212,610

$194,999

Down 8.3%

Medium Sale Price

$182,780

$179,900

Down 1.6%

Avg. Days on the Market

81 Days

56 Days

Down 25 Days

% Sale Price / List Price

97.63%

97.10%

No Change

# Active Listings (March)

3413 Units

2766 Units

Down 19.0%

Monthly Supply of Inventory (March)

3.75 Months

2.80 Months

Our market, based on the above numbers, reflects strong demand for housing with both unit volume and dollar sales up.  We are, however, still seeing the impact of the flooding that took place in August of 2016.  Many of the flooded homes are still being sold without repairs being completed.  The demand for these gutted homes by investors is apparently still strong.  This is evidenced by an 8.3% decrease in the average sale price in the first quarter of 2017 compared to the same period in 2016.

Active inventory is also down by a significant number (19%), and our monthly supply equates to just 2.8 months.  This means that if no additional home went on the market, it would take 2.8 months for all current active listings to sell.  A balanced and healthy market is one that has a 6-7 month supply of inventory.  This amount of inventory is making it tough for buyers who want choices to consider as they search the market for a home to purchase.   Because of this low inventory, buyers should be prepared to move quickly on a property if they find a home they like.

As we move into the spring when more homes are typically placed on the market for sale, the hope is that the current lack of inventory will start to improve.  If you are considering selling your home, now is a great time to list your house, as the demand is great.  

Overall, sales are up, demand is up, and inventory is down.

[The above information is based off of the Greater Baton Rouge Association of Realtors Multiple Listing Service as of April 12, 2017.]


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


Author: David G. McKey, Coldwell Banker ONE Broker/Owner
Data Source: Greater Baton Rouge Association of Realtors MLS. 4/12/2017
The information above is believed to be accurate but not guaranteed.
Coldwell Banker ONE is independently owned and operated.  Licensed in Louisiana.

Coldwell Banker ONE Recognizes Top Producers

Coldwell Banker ONE Realtors and staff gathered in February for their annual awards luncheon at the Baton Rouge Country Club.

Special guest, Pat Shingleton, WBRZ Chief Forecaster, commended the group for their continued support of Pat’s Coats for Kids.  He offered special thanks and presented individual certificates of appreciation to Coldwell Banker ONE Realtors.  Diane Moran and Lori Stoeckle received recognition for the efforts as 2016 Chairs for the Coldwell Banker ONE fundraising efforts to support Pat’s Coats for Kids.

 “This is a group of true professionals and leaders in the real estate industry,” said Broker/Owner, David McKey.  “They demonstrate the highest professional standards and dedication to satisfying the needs of their clients by providing them with the greatest level of support.  In addition, they are also committed to the continued philanthropic support of our home, the greater Baton Rouge area.”

These Coldwell Banker ONE Realtors were also  recognized for their individual sales performance in 2016:

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Marie Broussard received the the Top Overall Residential Sales Award and achieved Platinum Elite Level for her sales in 2016.
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Katie Mondulick achieved Platinum Elite Level for her sales in 2016.
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Platinum Level Sales Achievement in 2016.
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Gold Level Sales Achievement in 2016.
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Silver Level Sales Achievement in 2016
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Silver Level Sales Achievement in 2016.

 


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?  A Coldwell Banker ONE Realtor is here to help!

Start your home search at www.ColdwellBankerOne.com 

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5025 Bluebonnet Blvd, Baton Rouge, LA 70809 – 225-925-2500

16573 Airline Highway, Prairieville, LA 70769 – 225-673-2600

Licensed in Louisiana.  Independently Owned and Operated.

Local Real Estate Market Update

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Our local real estate market saw a huge increase in residential sales in the fourth quarter of 2016 in comparison with the fourth quarter of 2015 (according to the Greater Baton Rouge Assoc. of Realtors MLS numbers).  Although January 2017 sales were below the December numbers, when we compare them to January 2016, we see that sales continued to increase.  Unit sales this January compared to last year were up around 18%, with dollar sales increasing around 6%. 

We did, however, see another decrease in the average sale price of about 11% in January (to $ 187,000) compared to last year.  This continues to be a reflection in our market of investors buying flooded homes that have not been repaired.  We should anticipate this to continue through the first quarter and probably into the second quarter of this year.

As we move into the spring and summer selling season, we expect to see a robust real estate market.  The greater Baton Rouge area continues to see steady growth in jobs and the economy.

Like many other areas of the country, we also continue to see a low supply of residential inventory.  Currently, we have a 3-4 month supply of inventory.  This means that if no additional home went on the market, it would take 3-4 months for every house to sell.  A balanced and healthy market is one that has a 6-7 month supply of inventory.  Because of this low inventory, buyers should be prepared to move quickly on a property if they find a home they like.

Overall, sales are up, demand is up, and inventory is down.

[The above information is based off of the Greater Baton Rouge Association of Realtors Multiple Listing Service as of February 15, 2017.]


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


Author: David G. McKey, Coldwell Banker ONE Broker/Owner
Data Source: Greater Baton Rouge Association of Realtors MLS. 2/15/2017
The information above is believed to be accurate but not guaranteed.

Coldwell Banker ONE Realtors are Smart Home Certified

Coldwell Banker ONE is proud to announce that Darla Harris, Leslie HamiltonReginald HowardMargaret Landry, and Chantell Wright recently earned their Smart Home Certification from Coldwell Banker in partnership with CEDIA, the leading trade association for 22,000 smart home manufacturers and installers.

We pride ourselves in being known as the foremost expert in every aspect of the home – and smart home is no different.  “Smart home technology is catching on because it is literally changing the way we live in our homes,” said Sean Blankenship, chief marketing officer for Coldwell Banker Real Estate LLC.  “Not only is it shifting the financial perception of the home, but it’s also transforming our emotional connection to our homes. We have entered a transformative era. We believe that in three to five years, home buyers will expect smart home technology — it will become the new norm.”

Darla Harris, Leslie Hamilton, Reginald HowardMargaret Landry, and Chantell Wright are Coldwell Banker ONE Realtors based in Baton Rouge, Louisiana.  They are available to help you with all of your real estate needs throughout the Baton Rouge and surrounding areas!

See more about how Coldwell Banker Realtors are leading the way with their knowledge of smart home technology by clicking here.

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Kim Tanib Awarded CRS Designation

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BATON ROUGE, JANUARY, 2017 — Kim Tanib, a Realtor with Coldwell Banker ONE, has been awarded the Certified Residential Specialist (CRS) designation by the Council of Residential Specialists, the largest not-for-profit affiliate of the National Association of Realtors.

Realtors who receive the CRS Designation have completed advanced courses and have demonstrated professional expertise in the field of residential real estate.  By earning her CRS Designation, Kim is now among the top 3% of real estate agents in the country.

“Kim is a true professional Realtor,” said Coldwell Banker Broker/Owner, David McKey. “She demonstrates the highest professional standards and dedication to satisfying the needs of her clients by providing them with the highest level of support available.”

Kim lives in Denham Springs, Louisiana, and has been a Realtor, serving the greater Baton Rouge and surrounding areas, for over ten years. In addition to her CRS designation, Kim also earned the Seller Representative Specialist (SRS) designation, the Accredited Buyer’s Representative (ABR) designation and many honors, including Coldwell Banker International Diamond Society and Coldwell Banker ONE Top Producer.

See more about Coldwell Banker ONE Realtor, Kim Tanib, and search all homes for sale in our market by visiting www.KimTanib.com

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Coldwell Banker ONE is independently owned and operated.  Licensed in Louisiana.  5025 Bluebonnet Blvd, Baton Rouge, LA 70809.  225-925-2500
For more information about the CRS, visit CRS.com.

Scott Saporito Earns Smart Home Designation

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Coldwell Banker ONE is proud to announce that Scott Saporito recently earned his Smart Home Certification from Coldwell Banker in partnership with CEDIA, the leading trade association for 22,000 smart home manufacturers and installers.

We pride ourselves in being known as the foremost expert in every aspect of the home – and smart home is no different.  “Smart home technology is catching on because it is literally changing the way we live in our homes,” said Sean Blankenship, chief marketing officer for Coldwell Banker Real Estate LLC.  “Not only is it shifting the financial perception of the home, but it’s also transforming our emotional connection to our homes. We have entered a transformative era. We believe that in three to five years, home buyers will expect smart home technology — it will become the new norm.”

Scott Saporito is a Coldwell Banker ONE Realtor based in Baton Rouge, Louisiana.  He is available to help you with all of your real estate needs!

See more about Scott and start your home search at www.ScottSaporito.com

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5025 Bluebonnet Blvd, Baton Rouge, LA 70809 / 225-925-2500
16573 Airline Highway, Prairieville, LA 70769  / 225-673-2600
Independently Owned and Operated.  Licensed in Louisiana.

Coldwell Banker ONE Relocation Team Receives National Excellence Award

We are proud to announce that the Coldwell Banker ONE relocation team received the Excellence Award for outstanding service from American International Relocation Solutions (AIReS). This prestigious accolade recognizes AIReS partners who have achieved approval ratings of 90% or higher in post-relocation surveys given to their clients and relocation counselors on each referral. Competing on a national level, the Coldwell Banker ONE relocation team earned an impressive 96.36% rating.

The Coldwell Banker ONE relocation team includes Coldwell Banker ONE Realtors, Lillie CollierMolly DesselleMary LobosKatie Mondulick, and Kim Tanib. The team is led by Relocation Director, Betty Hebert.

“It is an incredible accomplishment to be recognized as a top real estate professional in the nation.  Lillie, Molly, Mary, Katie and Kim are outstanding Realtors and do exceptional jobs for their clients and customers,” said Coldwell Banker ONE Broker/Owner, David McKey. “They work hard every day to ensure that their clients in the Baton Rouge and surrounding areas receive extraordinary service.”

Coldwell Banker ONE Relocation Director, Betty Hebert, echoes, “The Coldwell Banker ONE relocation team proves, year after year, to be an outstanding partner in employee relocation.  It is an honor to have this team’s dedication to service recognized with the AIReS Excellence Award.”

Locally and independently owned and operated, Coldwell Banker ONE real estate company includes approximately 100 professional Realtors, two office locations in the greater Baton Rouge metropolitan area, and a full-service relocation division.

See more about Coldwell Banker ONE at www.ColdwellBankerOne.com or call 225-925-2500.


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.

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