The market is shifting. Plain and simple.
This is NOT the end of the world or the end of real estate! It’s actually a correction that needed to happen. To learn more check out The Baton Rouge Real Estate Market Shift 2022
Even though the market is shifting away from being a strong seller’s market, the numbers still look good!
As always, we have broken down the June 2022 real estate market statistics for the top three parishes for you number lovers. Enjoy!
Ascension Parish
June 2022 in Ascension Parish saw a median price of $295,000 for detached single-family homes. That’s down a bit from $307,500 in May. Out of the 151 homes closed in June 2022, they were on the market for a median of only THREE days and the list price to sales price ratio was 100%! There were 149 homes to go under contract, compared to 225 in June 2021 and 152 in May 2022.
There are currently 169 homes on the market, with a median list price of $370,000. This equals a 1.2-month supply of homes on the market in Ascension Parish. The tides are turning and buyers are beginning to feel a little relief. A few more homes on the market offsets the higher interest rates they are feeling.
East Baton Rouge Parish
June 2022 in East Baton Rouge Parish saw a median price of $295,500 for detached single-family homes. Out of the 519 homes closed in June 2022, they were only on the market for a median of FOUR days, and the list price to sales price ratio was up a bit to 98.8%. There were 432 homes to go under contract compared to 560 in June 2021 and 471 in May 2022.
There are currently 814 homes on the market, with a median list price of $358,375. This equals a 1.8 month supply of homes in the East Baton Rouge Parish market. EBR hasn’t seen this much inventory since February 2021.
Livingston Parish
In June 2022, Livingston Parish saw a median sales price drop to $242,625 for detached single-family homes. Out of the 195 homes closed in June 2022, they were on the market for a median of only FOUR days, and the list price to sales price ratio was 98.9%! There were 208 homes to go under contract compared to 244 in June 2021 and 179 in May 2022.
There are currently 297 detached single-family homes on the market, with a median list price of $288,410. This equals a 1.4 month supply of homes in the Livingston Parish market.
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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 Market for July 2022.
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* All data gathered using ROAM MLS as of July 5, 2022
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