The Greater Baton Rouge real estate market in July 2020 was healthy. The sellers are living the dream as they see homes selling quicker and sometimes even seeing multiple offers. The inventory is definitely being chipped away.
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
As expected, the number of sales in July surged 36% from 2019 to 266 detached single-family homes sold. The sales were up 21% from June of 2020 as well.
In June of 2020, we saw a slight dip in average sales price from 2019, but July brought it right back up to a healthy $277,480. Sellers retained 99.02% of their asking price, with their home only being on the market for an average of 69 days. Ascension Parish saw a decrease in listings in July. This is not alarming and is a yearly occurrence. School is opening in August, and with most homeowners in Ascension Parish comprising school-age children, parents were focusing on other things. What is interesting is that 266 homes were sold, with only 217 of those being new listings. Chipping away at our inventory and keeping that seller’s market secure.
There are currently 435 homes on the market, with an average list price of $330,185. Let’s put that into a clearer perspective. There is a 1.8 month supply of homes on the market in Ascension Parish. We are definitely 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 $387,598. If you can work with a three-bedroom home, the average list price drops tremendously to $249,655.
East Baton Rouge Parish Real Estate Market
Average sales prices for the real estate market in July 2020 were up 13% from July 2019 to $281,144. The average days on the market saw an increase to 71.
The number of homes sold rose 33% to 639 single-family homes selling in June 2020. Wow! That was a big increase from 2019 and a 17% increase from June 2020.
There are currently 1,320 homes currently on the market in East Baton Rouge Parish, with an average sales price of $434,972. EBR is also seeing a seller’s market with 639 homes selling with only 588 of those being new listings. There is only a 2.3 month supply of homes currently available, with 556 of those at an average sales price of $285,439 being three-bedroom.
Livingston Parish Real Estate Market
These guys were not wanting to be left out and saw a 13% increase in sales volume from July 2019.
Average sales prices in July 2020 increased by 6% to $219,947. The average days on the market dropped tremendously to 59 days. While Livingston Parish didn’t dip into their inventory, they did sell 90.6% of their new listings. They are still showing a healthy seller’s market like the other two Parishes we covered.
There are currently 471 homes currently on the market in Livingston Parish, with an average sales price of $279,352. Rivaling Ascension Parish, there is only a 1.9 month supply of homes currently available, with 237 of those at an average sales price of $243,195.
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 August 2020.
* All data gathered using Greater Baton Rouge MLS as of July 7, 2020