Greater Baton Rouge Real Estate home buyers were once again faced with low inventory in April 2021. Homes are selling sometimes within hours and having multiple offers. Buyers that are lucky enough to get an appointment for a viewing are making offers over asking and writing clean contracts. Some buyers are even writing offers sight unseen.
We broke down the top three Parishes for you to see how the market looks different just 10 miles down the road.
104% of homes that were listed went pending this month. There was a 16% increase in new listings over last month. This is fantastic news for buyers!
The median sales price for Detached Single Family homes in April 2021 was $273,035 compared to $254,000 in April 2020, and sellers retained 100% of their asking price. The median number of days on the market was only 3 days. With 262 homes listed, 273 homes went under contract. We don’t see the seller’s market going away any time soon. There are currently 220 homes on the market, with a median list price of $336,975. Let’s put that into a clearer perspective. There is a 1 month supply of homes on the market in Ascension Parish.
East Baton Rouge Parish
April brought 104% of the homes going under contract compared to what was listed during the month.
The median sales price of detached single-family homes in April 2021 was $260,000 and sellers retained 100% of their asking price. The median number of days on the market was only 6 days. There were 588 homes listed in April 2021 with 612 homes going under contract.
There are currently 669 homes on the market, with a median list price of $375,000. Let’s put that into a clearer perspective. There is a 1.3 month supply of homes on the market in East Baton Rouge Parish. This activity definitely keeps buyers and their agents on their toes!
Livingston Parish saw 105% of their new listings selling in April of 2021
The median sales price in April 2021 was $220,000 and sellers 99.9% of their asking price. The median number of days on the market was only 5 days. There were 231 detached single-family homes listed in April 2021 with 242 homes going under contract.
There are currently 221 detached single-family homes on the market, with a median list price of $286,055. Let’s put that into a clearer perspective. There is only a 1 month supply of homes on the market in Livingston Parish. The parish is seeing tremendous growth in the outlying
As expected, all three Parishes saw an increase in Pending Sales for April 2021 over April of 2020. The number of homes to go pending went down in Livingston and East Baton Rouge parishes. That is in direct correlation with the lower amount of homes to become available.
As you have probably heard, Lumber is up over 300%. It will be very interesting to see how this affects new home starts. Always something for us to watch in real estate!
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 May 2021.
* All data gathered using Greater Baton Rouge MLS as of May 5, 2021