The real estate market in the Greater Baton Rouge Area has been experiencing a bit of a slowdown lately, with pending sales taking a dip across all three of the larger parishes. However, don’t let that discourage you, dear reader! There are signs of activity ramping up, and we’re eager to see what the future holds.
As always, in the lower price ranges, there’s bound to be some intense competition with multiple-offer situations for homes in great shape. It’s an exciting time for buyers looking to snag their dream home at a reasonable price.
Now, let’s take a trip down memory lane and revisit February 2023. What was happening in the real estate world back then? Let’s find out!
February 2023 in Ascension Parish saw a median price of $319,292 for detached single-family homes. The parish definitely felt the slowdown in only having 70 homes close in February. Out of those homes closed, they were on the market for a median of twenty-four days, and the list price-to-sales price ratio was 97.3%. There were only 89 homes to go under contract.
There are currently 242 homes on the market, with a median list price of $380,524. This equals a 2.3-month supply of homes on the market in Ascension Parish.
East Baton Rouge Parish
February 2023 in East Baton Rouge Parish saw a median price of $265,000 for detached single-family homes. Out of the 283 homes closed in February 2023, they were on the market for a median of a whopping thirty days, and the list price-to-sales price ratio held steady at 97.6%. There were 287 homes to go under contract, which was down a bit from January.
There are currently 939 homes on the market, with a median list price of $364,900. This equals a 2.7-month supply of homes in the East Baton Rouge Parish market.
In February 2023, Livingston Parish saw a median sales price of $242,725 for detached single-family homes. Out of the 114 homes closed in February 2023, they were on the market for a median of thirty-three days, and the list-to-sales price ratio was 99%! There were 109 homes to go under contract compared to 216 in February 2022 and 124 in January 2023.
There are currently 336 detached single-family homes on the market, with a median list price of $290,000. 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 March 2023.
* All data gathered using ROAM MLS as of March 8, 2023