The Greater Baton Rouge real estate market in August 2020 stuck to the historical slowdown. Although, the slowdown was as not as significant as August of 2019. There were 1,002 homes that closed and 1,145 homes that went under contract. The Greater Baton Rouge Market as a whole is still seeing a seller’s market. Currently, there is only a 2 1/2 month supply of homes on the market.
We broke down the top three Parishes for you to see how the market looks different just 10 miles down the road.
Ascension Parish Real Estate Market
Ascension Parish remains the Hot Spot in the market.
August brought 103.38% of the homes sold compared to what was listed. Still chipping away at that inventory!
The average sales price in August 2020 was $291,345 and sellers retained 99.3% of their asking price. The number of days on the market was down to only 57 days. There was another decrease in listings with only 207 homes being listed in August 2020. 214 homes sold to make up 103.38% of sales. Chipping away at our inventory and keeping that seller’s market secure.
There are currently 408 homes on the market, with an average list price of $334,680. Let’s put that into a clearer perspective. There is a 1.7 month supply of homes on the market in Ascension Parish. This keeps the parish in a strong Seller’s Market!
Almost half of those active homes on the market are four-bedroom homes with an average list price of $378,471. If you can work with a three-bedroom home, the average list price drops tremendously to $254,203.
East Baton Rouge Parish Real Estate Market
Average sales prices for the real estate market in August 2020 were up 6.5% from August 2019 to $277,986. The average days on the market held steady at 66.
The number of homes sold dropped 26% this month to 481 single-family homes selling compared to the 653. Don’t let that scare you though, the number of sales was up 4% from August 2019.
There are currently 1,246 homes currently on the market in East Baton Rouge Parish, with an average sales price of $438,894. EBR is also seeing a seller’s market with only a 2.3 month supply of homes currently available. There are 523 three-bedroom homes available with an average price of $297,954.
Livingston Parish Real Estate Market
Livingston Parish saw a drop in sales in August as well with only 199 homes selling compared to the 267 in July.
The good news is that the average sales price increased by 4.3% to $229,479. The average days on the market rose slightly to 63 days with sellers retaining 98.8% of their list price. They are still showing a healthy seller’s market like the other two Parishes we covered.
There are currently 423 homes currently on the market in Livingston Parish, with an average sales price of $288,475. Squeezing right between Ascension and East Baton Rouge Parishes, there is only a 2 month supply of homes currently available, with 197 of those at an average sales price of $249,200.
Check out our graph to see the number of homes going under contract on a daily basis in the Greater Baton Rouge real estate market.
Join us next month as we review the Greater Baton Rouge Real Estate Market Statistics for September 2020.
* All data gathered using Greater Baton Rouge MLS as of August 4, 2020
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