Greater Baton Rouge Real Estate home buyers were once again faced with low inventory in May 2021. New inventory is slowing. We wonder, if it’s a cool down or is it just a seasonal slow down? It will certainly be something we keep our eye on.
We broke down the top three Parishes for you to see how the market looks different just a few miles down the road.
Ascension Parish
101% of homes that were listed went pending this month and inventory is tighter than ever.
The median sales price for Detached Single Family homes in May 2021 was $271,000 compared to $246,500 in May 2020, and sellers retained 100% of their asking price. The median number of days on the market was only 3 days. With 222 homes listed, 224 homes went under contract. There were about 50 fewer homes to go under contract and we believe that instead of a cool down, it’s because the inventory is even tighter than it was last month. There are currently 208 homes on the market, with a median list price of $327,930. Let’s put that into a clearer perspective. There is a 1 month supply of homes on the market in Ascension Parish.
East Baton Rouge Parish
May brought 96.5% of the homes going under contract compared to what was listed during the month.
The median sales price of detached single-family homes in May 2021 was $255,000 and sellers retained 98% of their asking price. The median number of days on the market was only 5 days. There were 600 homes listed in May 2021 with 579 homes going under contract.
There are currently 663 homes on the market, with a median list price of $359,900. Let’s put that into a clearer perspective. There is a 1.3 month supply of homes on the market in East Baton Rouge Parish. Is there a cool down happening or is it just the summertime slow down?
Livingston Parish
Livingston Parish saw 94% of their new listings selling in May of 2021
The median sales price in May 2021 was $215,000 and sellers 100% of their asking price. The median number of days on the market was only 4 days. There were 265 detached single-family homes listed in May 2021 with 250 homes going under contract.
There are currently 233 detached single-family homes on the market, with a median list price of $281,990. Let’s put that into a clearer perspective. There is a 1.1 month supply of homes on the market in Livingston Parish. Denham Springs is seeing a lot of activity.
Livingston parish is the only parish of the three above that has a slight uptick of available homes compared to last month. East Baton Rouge and Ascension are down. As we mentioned before, is it a cool down or just a seasonal slow down?
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 June 2021.
* All data gathered using Greater Baton Rouge MLS as of June 3, 2021
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