Median sales prices are continuing to rise. Livingston Parish has increased 18% in its median sales price in the past year. Ascension Parish has seen a 65% decrease in homes on the market compared to last year. Trying to make sense of this market is maddening.
Interest rates continued to rise but that didn’t seem to stop the buyers. What is holding them off is the lack of inventory.
Inventory remains historically low in all three of the major parishes but Ascension shows out with only .5 month of supply. We are going to say that again, a 1/2 month supply! Talk about bidding wars for anything that comes on the market there!
As always, for you number lovers, we have broken down the top three parishes for February 2022 statistics. Enjoy!
Ascension Parish
February 2022 in Ascension Parish saw a median price of $299,450 for detached single-family homes. That’s up from $282,000 in January. Out of the 158 homes closed in February 2022, they were on the market for a median of only TWO days and the list price to sales price ratio was 100%! There were 163 homes to go under contract, compared to 203 in February 2021 and 163 in January of 2022.
There are currently 87 homes on the market, with a median list price of $381,000. Let’s put that into a clearer perspective. There is less than a one-month supply of homes on the market in Ascension Parish. To be exact there is a .5 month supply! It’s extremely hard to be a buyer in Ascension Parish right now.
East Baton Rouge Parish
February 2022 in East Baton Rouge Parish saw a median price of $275,000 for detached single-family homes. Out of the 426 homes closed in February 2022, they were only on the market for a median of SEVEN days and the list price to sales price ratio was 98.6%. There were 426 homes to go under contract compared to 498 in February of 2021 and 465 in January of 2022.
There are currently 554 homes on the market, with a median list price of $375,000. Let’s put that into a clearer perspective. There is a 1.1 month supply of homes on the market in East Baton Rouge Parish. This is still a historic low.
Livingston Parish
February 2022 in Livingston Parish saw a median sales price of $250,000 for detached single-family homes. Out of the 199 homes closed in February 2022, they were on the market for a median of only THREE days and the list price to sales price ratio was 99.6%! There were 210 homes to go under contract compared to 188 in February 2021 and 184 in January of 2022.
There are currently 197 detached single-family homes on the market, with a median list price of $337,990 There is currently a .8 month supply of homes on the market in Livingston Parish.
Check out our graph to see the number of homes going under contract on a daily basis in the Greater Baton Rouge area.
Join us next month as we review the Greater Baton Rouge Real Estate market for March 2022.
* All data gathered using ROAM MLS as of March 3, 2022
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