Inventory is increasing ever so slightly, and we are seeing more and more homes become available to the market; except for Ascension Parish. We also saw a slight decrease in the market of homes going under contract.
Is a shift about to happen? We certainly believe that we will remain strong during this annual busy season but do expect a cooling-off period in the fall.
Rising interest rates and insecurities about the economy will fuel this. Are we approaching a housing bubble? We don’t believe so and you can read more about what we think about that in our housing bubble blog post.
As always, we have broken down the April 2022 real estate market statistics for the top three parishes for you number lovers. Enjoy!
April 2022 in Ascension Parish saw a median price of $284,770 for detached single-family homes. That’s down a bit from $300,000 in March. Out of the 160 homes closed in April 2022, they were on the market for a median of only TWO days and the list price to sales price ratio was 99.1%! There were 163 homes to go under contract, compared to 264 in April 2021 and 176 in March 2022.
There are currently 113 homes on the market, with a median list price of $396,500. This equals a less than a one-month supply of homes on the market in Ascension Parish. To be exact, there is a .7-month supply! It remains extremely hard to be a buyer in Ascension Parish right now; especially if you are in a median or below price range.
East Baton Rouge Parish
April 2022 in East Baton Rouge Parish saw a median price of $280,500 for detached single-family homes. Out of the 516 homes closed in April 2022, they were only on the market for a median of FOUR days, and the list price to sales price ratio was up a bit to 99.2%. There were 494 homes to go under contract compared to 571 in April 2021 and 525 in March 2022.
There are currently 581 homes on the market, with a median list price of $389,900. This equals a 1.2 month supply of homes in the East Baton Rouge Parish market. EBR, like the other parishes, is still seeing historic low inventory.
In April 2022, Livingston Parish saw a median sales price rise to $260,000 for detached single-family homes. Out of the 238 homes closed in April 2022, they were on the market for a median of only THREE days, and the list price to sales price ratio was 99.8%! There were 203 homes to go under contract compared to 230 in April 2021 and 192 in March 2022.
There are currently 237 detached single-family homes on the market, with a median list price of $293,205. This equals a 1.1 month supply of homes in the Livingston Parish market.
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 May 2022.
* All data gathered using ROAM MLS as of May 7, 2022