Well, the Greater Baton Rouge real estate market did not start 2023 off with a bang of excitement. It was more of a dud firework.
Activity was slow in all three of the larger parishes. Homes are sitting on the market longer, and inventory is rising every so slightly. The good news is that Pending sales were up a bit in each of the parishes, except for Ascension.
While the news looks less than stellar, we believe that things are just still frozen and that the activity will gain traction in the spring.
Let’s take a look back at January 2023…
January 2023 in Ascension Parish saw a median price of $322,500 for detached single-family homes. The parish definitely felt the slowdown in only having 88 homes close in January. Out of those homes closed, they were on the market for a median of twenty-one days, and the list price-to-sales price ratio was 97.6%. There were only 75 homes to go under contract.
There are currently 259 homes on the market, with a median list price of $396,500. This equals a 2.1-month supply of homes on the market in Ascension Parish.
East Baton Rouge Parish
January 2023 in East Baton Rouge Parish saw a median price of $279,950 for detached single-family homes. Out of the 234 homes closed in January 2023, they were on the market for a median of a whopping thirty-eight days, and the list price-to-sales price ratio held steady at 95.9%. There were 310 homes to go under contract, which was up almost 100 units from December 2022.
There are currently 988 homes on the market, with a median list price of $362,900. This equals a 2.7-month supply of homes in the East Baton Rouge Parish market.
In January 2023, Livingston Parish saw a median sales price of $235,000 for detached single-family homes. Out of the 97 homes closed in January 2023, they were on the market for a median of a whopping forty-two days, and the list-to-sales price ratio was 97.4%! There were 80 homes to go under contract compared to 171 in December 2021 and 115 in November 2022.
There are currently 362 detached single-family homes on the market, with a median list price of $285,995. 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 February 2023.
* All data gathered using ROAM MLS as of February 8, 2023