In July 2024, the real estate market across Ascension Parish, East Baton Rouge Parish, and Livingston Parish displayed shifts in pricing, market duration, and inventory levels, impacted significantly by high-interest rates.
Seasonal trends in the real estate market typically show heightened activity during the summer months, as many homebuyers prefer to move during this period to align with school breaks. This results in increased transaction volumes and potentially elevated prices. However, July’s data reflects nuanced shifts in buyer and seller activities, influenced by high-interest rates that have prevented some potential buyers from moving forward. This financial constraint has contributed to the slight drops and rises in median prices and varying market durations. Inventory levels and months’ supply show a balanced market, with Ascension Parish at a 3.8-month supply, East Baton Rouge Parish at a 4.3-month supply, and Livingston Parish at a 3.9-month supply, indicating a cautious yet active real estate environment.
Ascension Parish Real Estate
July 2024 in Ascension Parish saw a slight drop in the median price of detached single-family homes, which was $343,538. With 144 homes closing in July, the volume rose a bit. Out of those homes closed, they were on the market for a median of thirteen days, and the list price-to-sales price ratio rose to 99.0%. There were 106 homes to go under contract.
There are currently 368 homes on the market, with a median list price of $383,945. This equals a 3.8-month supply of homes in Ascension Parish.
East Baton Rouge Parish Real Estate
July 2024 in East Baton Rouge Parish saw a median price of $298,080 for detached single-family homes. Out of the 412 homes closed in July 2024, they were on the market for a median of twenty-two days, and the list price-to-sales price ratio held steady at 97.7%. There were 309 homes to go under contract, showing a continued downward trend.
There are currently 1436 homes on the market, with a median list price of $332,100. This equals a 4.3-month supply of homes in the East Baton Rouge Parish market.
Livingston Parish Real Estate
In July 2024, Livingston Parish saw a median sales price of $247,000 for detached single-family homes. Out of the 159 homes closed in July 2024, they were on the market for a median of thirty days, and the list-to-sales price ratio was 98,7%! There were 126 homes to go under contract compared to 134 in June 2024 and 138 in July 2023.
There are currently 567 detached single-family homes on the market, with a median list price of $275,900. This equals a 3.9-month supply of homes in the Livingston Parish market.
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Join us next month as we review the Greater Baton Rouge Real Estate Market for August 2024.
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* All data gathered using ROAM MLS as of
August 5, 2024
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