The Greater Baton Rouge real estate market for September 2020 is on fire! We typically have a pretty slow September. Not this year! Sellers are living the dream as they see homes selling quicker and sometimes even seeing multiple offers. The inventory is currently being depleted.
We broke down the top three Parishes for you to see how the market looks different just 10 miles down the road.
Ascension Parish
Ascension Parish remains the Hot Spot in the market.
September brought 112.57% of the homes sold than what was listed—chipping away at that inventory!
The average sales price in August 2020 was $279,860 and sellers retained 99.17% of their asking price. The number of days on the market was down to only 51 days. There was another decrease in listings, with only 191 homes listed in September 2020. 215 homes sold to make up 112.57% of sales. The seller’s market is healthy, to say the least!
There are currently 347 homes on the market, with an average list price of $344,402. Let’s put that into a clearer perspective. There is a 1.5 month supply of homes on the market in Ascension Parish.
A little more than half of those active homes on the market are four-bedroom homes with an average list price of $378,312. If you can work with a three-bedroom home, the average list price drops tremendously to $262,060.
East Baton Rouge Parish
September brought 90.89% of the homes sold compared to what was listed.
The average sales price in September 2020 was $295,335 and sellers retained 98.15% of their asking price. The number of days on the market dropped slightly to 62 days. There was another decrease in listings, with only 549 homes listed in September 2020. 499 of those homes sold to make up 90.89% of sales.
There are currently 1,166 homes on the market, with an average list price of $448,028. Let’s put that into a clearer perspective. There is a 2.2 month supply of homes on the market in East Baton Rouge Parish. This activity keeps the parish in a Seller’s Market!
Almost half of those active homes on the market are four-bedroom homes with an average list price of $494,890. If you can work with a three-bedroom home, the average list price drops tremendously to $305,863.
Livingston Parish
These guys did not want to be left out and saw a 36% increase in sales volume from September 2019!
September home sales brought 109.21% of the homes sold compared to what was listed. Way to get in the game, Livingston!
The average sales price in September 2020 was $2218,118 and sellers retained 99.4% of their asking price. The number of days on the market was down to only 49 days. There were 228 detached single-family homes listed in September 2020. 249 homes sold to make up 109.21% of sales.
There are currently 391 detached single-family homes on the market, with an average list price of $288,967. Let’s put that into a clearer perspective. Rivaling Ascension Parish, there is a 1.7 month supply of homes on the market in Livingston Parish. We call that a strong Seller’s Market!
391 of those active homes on the market are three-bedroom homes with an average list price of $257,999.
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 October 2020.
* All data gathered using Greater Baton Rouge MLS as of September 6, 2020
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