|Total Unit Sales||2310||2202||Down 4.7%|
|Total $ Sales||$503.8 Million||$491 Million||Down 2.5%|
|Avg. Sale Price||$ 217,806||$ 222,447||Up 2.1%|
|Median Sale Price||$ 193,950||$ 199,000||Up 2.6%|
|Avg. Days on Market||65 days||77 days||Up 12 days|
|% Sale Price / List Price||97.6%||96.1%||Down 1.5%|
|# Active Listings (March)||5164||5573||Up 7.9%|
|Monthly Supply of Inventory (March)||5.26 Months||6.31 Months|
The above statistics compare sales of residential properties in the first three months of 2019, compared to the same time period in 2018.. The data was pulled on 4/9/19 from the Greater Baton Rouge Association of Realtors (GBRAR) MLS and only includes residential sales.
Overall, the local market saw a slight slowing of sales during the first quarter of 2019, both in units and dollars. The average sale price continues to increase, but at a slow pace of 2.5%. As you would expect with a slowing of the real estate market, the average days on the market and inventory available have increased but remain healthy. It is generally hard to draw any conclusions from the first quarter reports, as this is usually the market’s slowest time of the year.
As interest rates remain low and very affordable and our unemployment remains low, it is anticipated that we will see a good real estate market through the remainder of the year.
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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!
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