The three bigger parishes all saw a decrease in pending sales in April. Some of that was brought on by buyers sitting still watching to see if the interest rates would drop a bit more, and some of it was brought on by a lack of inventory. You can’t buy what isn’t available.
Median to lower-priced homes in good condition are still seeing multiple offers. Affordability is a real thing. While Ascension and Livingston Parishes saw a slight cooling off in pricing, East Baton Rouge saw another increase!
Now, let’s take a trip down memory lane and revisit April 2023. What was happening in the real estate world last month? Let’s find out!
April 2023 in Ascension Parish saw a median price of $295,000 for detached single-family homes. The parish continues to feel the rush of Spring Selling Season, with 128 homes closing in March. Out of those homes closed, they were on the market for a median of thirteen days, and the list price-to-sales price ratio was 99.2%. There were 106 homes to go under contract.
There are currently 279 homes on the market, with a median list price of $374,900. This equals a 2.4-month supply of homes on the market in Ascension Parish.
East Baton Rouge Parish
April 2023 in East Baton Rouge Parish saw a median price of $285,000 for detached single-family homes. Out of the 383 homes closed in April 2023, they were on the market for a median of nineteen days, and the list price-to-sales price ratio rose a bit to 98.3%. There were 365 homes to go under contract, which leveled back down from the spike in March.
There are currently 975 homes on the market, with a median list price of $365,000. This equals a 2.8-month supply of homes in the East Baton Rouge Parish market.
In April 2023, Livingston Parish saw a median sales price of $242,345 for detached single-family homes. Out of the 124 homes closed in April 2023, they were on the market for a median of seventeen days, and the list-to-sales price ratio was 98.6%! There were 115 homes to go under contract compared to 211 in April 2022 and 154 in March 2023.
There are currently 340 detached single-family homes on the market, with a median list price of $321,745. This equals a 2.2-month supply of homes in the Livingston Parish market.
Check out our graphs to see the activity in the Greater Baton Rouge area.
Join us next month as we review the Greater Baton Rouge Real Estate Market for May 2023.
* All data gathered using ROAM MLS as of May 11, 2023