Greater Baton Rouge Real Estate home buyers were again faced with low inventory in March 2021. Homes are selling sometimes within hours. Some buyers are not even able to view the homes before they are under contract. Those that are lucky enough to get in are making offers over asking and writing clean contracts.
We broke down the top three Parishes for you to see how the market looks different just 10 miles down the road.
Ascension Parish
102% of homes that were listed went pending this month. There was a 9% increase in new listings over last month. Spring is near!
The median sales price for Detached Single Family homes in March 2021 was $272,259 compared to $260,500 in March 2020, and sellers retained 98.9% of their asking price. The median number of days on the market was only 7 days. With 224 homes listed, 212 homes went under contract. The seller’s market is still healthy, to say the least! There are currently 214 homes on the market, with a median list price of $330,937. Let’s put that into a clearer perspective. There is a 1.1 month supply of homes on the market in Ascension Parish.
East Baton Rouge Parish
March brought 103% of the homes going under contract compared to what was listed during the month.
The median sales price of detached single-family homes in March 2021 was $251,500 and sellers retained 98.9% of their asking price. The median number of days on the market was only 13 days. There were 611 homes listed in March 2021 with 596 homes going under contract.
There are currently 700 homes on the market, with a median list price of $362,500. 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. This activity definitely keeps the Parish in a Seller’s Market!
309 of those active homes on the market are four-bedroom homes with a median list price of $429,900. If you can work with a three-bedroom home, the median list price drops tremendously to $296,495.
Livingston Parish
Livingston Parish saw 98.8% of their new listings selling in March of 2021
The median sales price in March 2021 was $213,900 and sellers 98.9% of their asking price. The median number of days on the market was only 5 days. There were 265 detached single-family homes listed in March 2021 with 253 homes going under contract.
There are currently 104 detached single-family homes on the market, with a median list price of $258,495. Let’s put that into a clearer perspective. There is only a 1.1 month supply of homes on the market in Livingston Parish. Still holding on to a strong seller’s market!
As expected, all three Parishes saw an increase in Pending Sales for March 2021 over March of 2020. March of 2020 is when we went on lockdown. It will be interesting to see how things start to play out from here on out.
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 April 2021.
* All data gathered using Greater Baton Rouge MLS as of April 6, 2021
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