The Greater Baton Rouge real estate market was in a frozen state in December.
With interest rates continuing to rise, buyers were holding off on making a move. Sellers were holding off as well, as they weren’t wanting to give up the lower interest rate mortgage they were already holding.
Throw in the holiday season and the market screeched to nearly a halt.
Never fear, though; we have high hopes for 2023. Keep watching for our prediction blog post!
As always, we have broken down the December 2022 real estate market statistics for the top three parishes for you data enthusiasts. Enjoy!
Ascension Parish
December 2022 in Ascension Parish saw a median price of $288,035 for detached single-family homes. That was a decrease from $302,833 in November Out of the 130 homes closed in December 2022, they were on the market for a median of seventeen days and the list price-to-sales price ratio was 99.3%! There were 85 homes to go under contract, compared to 148 in December 2021 and 108 in November 2022.
There are currently 217 homes on the market, with a median list price of $395,990. This equals a 1.8 month supply of homes on the market in Ascension Parish.
East Baton Rouge Parish
December 2022 in East Baton Rouge Parish saw a median price of $260,000 for detached single-family homes. Out of the 312 homes closed in December 2022, they were on the market for a median of a whopping twenty two days, and the list price-to-sales price ratio held steady at 97.7%. There were 234 homes to go under contract compared to 404 in December 2021 and 260 in November 2022.
There are currently 964 homes on the market, with a median list price of $334,100. This equals a 2.5-month supply of homes in the East Baton Rouge Parish market. EBR continues to see a steady slowdown of homes going under contract. Currently they have seen a 42% decrease in pending sales compared to December of 2021.
Livingston Parish
In December 2022, Livingston Parish saw a median sales price drop ever so slightly to $245,000 for detached single-family homes. Out of the 144 homes closed in December 2022, they were on the market for a median of a whopping twenty-six days, and the list-to-sales price ratio held pretty steady at 98.8%! There were 80 homes to go under contract compared to 171 in December 2021 and 115 in November 2022.
There are currently 382 detached single-family homes on the market, with a median list price of $279,900. This equals a 2.1 month supply of homes in the Livingston Parish market.
——————————————————————————————
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 January 2023.
——————————————————————————————
* All data gathered using ROAM MLS as of January 17, 2023
Leave a Reply