What a year the Baton Rouge Real Estate market for 2020 has been. We have seen record-breaking sales and sales prices since we were released from the stay at home orders due to COVID-19. June 2020 saw our peak of pending contracts. We have seen a steady decline since. Not to worry, though, even though sales have slacked off, they are still healthy. There is over 108.74% of sales compared to new listings when looking at the three larger parishes for November. Inventory is definitely still a problem. 747 of those active homes on the market are four-bedroom homes with an average list price of $4407,34. If you can work with a three-bedroom home, the average list price drops tremendously to $288,694.
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 has declined a bit in comparison to East Baton Rouge and Livingston Parishes.
Only 100.54% of homes were sold this month! In a Non-COVID market, we would be ecstatic about this. We are definitely not upset about these sales numbers. Especially since November typically brings a slowdown due to the upcoming holidays.
The average sales price for Detached Single Family homes in November 2020 was $276,277 compared to $245,590 in November 2019, and sellers retained 99.16% of their asking price. The number of days on the market held steady at 48 days. The number of new listings held steady, with 184 homes listed with 185 homes to sell. The seller’s market is healthy, to say the least!
There are currently 333 homes on the market, with an average list price of $342,746. Let’s put that into a clearer perspective. There is a 1.8 month supply of homes on the market in Ascension Parish.
East Baton Rouge Parish
East Baton Rouge Parish has taken the number one spot away from Ascension Parish.
November brought 110.81% of the homes sold compared to what was listed during the month.
The average sales price of detached single-family homes in November 2020 was $303,880 and sellers retained 95.49% of their asking price. The number of days on the market held steady at 60 days. There was a slight decrease to 444 homes listed in November 2020 with 492 sales!
There are currently 1,040 homes on the market, with an average list price of $459,964. Let’s put that into a clearer perspective. There is a 2.3 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 $507.833. If you can work with a three-bedroom home, the average list price drops tremendously to $305,918.
Livingston Parish
November brought 108.11% of the homes sold compared to what was listed during the month.
The average sales price in November 2020 was $234,717 and sellers retained 98.82% of their asking price. The number of days on the market went down a bit to 56 days. There were 173 detached single-family homes listed in November 2020 with 194 home sales.
There are currently 360 detached single-family homes on the market, with an average list price of $285,551. 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!
Each of these three Parishes saw a decline in Pending Sales for November. Hello Holiday slow down. 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 Statistics for December 2020.
* All data gathered using Greater Baton Rouge MLS as of December 10, 2020
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