The Greater Baton Rouge real estate market continues to slow down.
Homes are sitting on the market longer, and sales continue to drop. What we find interesting is that the median sales price is holding pretty steady. No drastic drop in pricing.
We are in the sweet spot of a balanced market but do expect to see a buyer’s market before the end of the year and into the beginning of next year.
As always, we have broken down the October 2022 real estate market statistics for the top three parishes for you data enthusiasts. Enjoy!
Ascension Parish
October 2022 in Ascension Parish saw a median price of $299,000 for detached single-family homes. That has dropped a bit since $305,000 in September Out of the 123 homes closed in October 2022, they were on the market for a median of five days and the list price-to-sales price ratio was 99.4%! There were 104 homes to go under contract, compared to 158 in October 2021 and 114 in September 2022.
There are currently 271 homes on the market, with a median list price of $389,000. This equals a 2-month supply of homes on the market in Ascension Parish. Buyers continue to see more inventory to choose from.
East Baton Rouge Parish
October 2022 in East Baton Rouge Parish saw a median price of $270,000 for detached single-family homes. Out of the 336 homes closed in October 2022, they were on the market for a median of a whopping thirteen days, and the list price-to-sales price ratio was up a tad to 98.3%. There were 276 homes to go under contract compared to 487 in October 2021 and 334 in September 2022.
There are currently 1096 homes on the market, with a median list price of $337,745. This equals a 2.6 month supply of homes in the East Baton Rouge Parish market. EBR continues to see a little more inventory and a steady slowdown of homes going under contract.
Livingston Parish
In October 2022, Livingston Parish saw a median sales price drop a bit to $244,000 for detached single-family homes. Out of the 151 homes closed in October 2022, they were on the market for a median of a whopping thirteen days, and the list price to sales price ratio was 99.2%! There were 125 homes to go under contract compared to 218 in October 2021 and 138 in September 2022.
There are currently 424 detached single-family homes on the market, with a median list price of $280,237 This equals a 2.1 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 November 2022.
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* All data gathered using ROAM MLS as of November 7, 2022
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