March 2020 numbers still look good despite the COVID-19 pandemic. Read more to learn about the Greater Baton Rouge Real Estate statistics for March 2020.
How is that, you ask? The houses that closed in March were already under contract before the Governor issued a Stay At Home Order. We will see the real effect of this pandemic when we look at the April 2020 numbers. So far, we have seen a 50% decrease in showings, so expect some not so good news in April.
The good news is that the industry as a whole feels that housing will bounce back quickly when this is over. There are a lot of pent up buyers that will be ready to make a move as soon as they can move around freely without worry.
Average sales prices in March 2020 remained steady year over year at $267,822, and there was a slight rise in List to Sales price ratio of 99.32%. The average days on the market were the same. What we found interesting is that the average cost of unsold homes in March of 2020 was $258,925, while in March of 2019, the average price of unsold homes was $291,359. It seems that many of the larger houses were either sold or taken off the market.
EAST BATON ROUGE PARISH
Average sales prices in March 2020 were much higher at an almost 11% increase to $277,823 over the March 2019 average sales price of $250,567. The List to Sales price ratio also rose to 97.7%. If you remember, in 2019, East Baton Rouge Parish was struggling for a bit, and boy did they bounce back. Three-bedroom homes are still popular and are dominating the market.
Join us next month as we review the Greater Baton Rouge Real Estate Statistics for April 2020.