What a month August was! Like us, I am sure you are glad to say goodbye to Hurricane Ida.
Our numbers are going to be a bit skewed for August and September due to Hurricane Ida. See, at the end of August many properties were not able to close because of the storm that passed on August 27. That will skew the numbers downward for August and bump them up for September.
We still have enough data to give you an idea of what happened and what’s on the horizon. When you start thinking about the holidays approaching, we are basically within the last 90 days of the year. While we anticipate the market to stay strong and remain a seller’s market into 2022, we do anticipate a slow down a little bit earlier than we saw in 2020.
We have seen an uptick in pending numbers after Hurricane Ida but nothing compared to what we saw after Hurricane Katrina. The difference here is that most people will be able to repair their homes and even inhabit them as the repairs are made. We have seen a great need for short term rentals and that is directly due to the people locally repairing their homes with the intention of moving back in.
As always, for you number lovers, we have broken down the top three parishes for August 2021 statistics. Enjoy!
Ascension Parish
August 2021 in Ascension Parish saw a median price of $271,250 for detached single-family homes. Out of the 180 homes closed in August 2021, they were only on the market for a median of FOUR days and the list price to sales price ratio was 99.4%! There were 183 homes to go under contract compared to 209 in July of 2020 and 230 in June of 2021.
Remember the 9-month moratorium we told you about? In July the number of new builds that went pending was 64 and in August there were 69. Hopefully, there were enough plans approved already that will sustain us through this moratorium.
There are currently 186 homes on the market, with a median list price of $352,827. Let’s put that into a clearer perspective. There is less than a 1.1 month supply of homes on the market in Ascension Parish.
East Baton Rouge Parish
August 2021 in East Baton Rouge Parish saw a median price of $280,000 for detached single-family homes. Out of the 461 homes closed in August 2021, they were only on the market for a median of SIX days and the list price to sales price ratio was 98%. There were 487 homes to go under contract compared to 557 in July of 2020 and 558 in June of 2021.
There are currently 742 homes on the market, with a median list price of $331,500. Let’s put that into a clearer perspective. There is a 1.5 month supply of homes on the market in East Baton Rouge Parish. The supply is about the same as last month. Still low but not creeping lower.
Livingston Parish
August 2021 in Livingston Parish saw a median sales price of $226,925 for detached single-family homes. Out of the 191 homes closed in August 2021, they were only on the market for a median of FIVE days and the list price to sales price ratio was 99.1%! There were 255 homes to go under contract compared to 221 in July of 2020 and 250 in June of 2021.
There are currently 280 detached single-family homes on the market, with a median list price of $269,747. There is currently a 1.4 month supply of homes on the market in Livingston Parish.
In July, East Baton Rouge Parish saw the greatest increase in median sales prices of the three parishes. A $20,000 increase!
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 September 2021.
* All data gathered using Greater Baton Rouge MLS as of September 10, 2021
Leave a Reply