The Greater Baton Rouge real estate market showcased its adaptability in October 2024, with a notable 3% increase in homes going under contract and a 3.1% rise in sales prices compared to last year. Despite challenging economic conditions, the region’s housing market continues to offer opportunities for buyers and sellers alike. With a balanced 4.8-month supply of inventory, Baton Rouge is maintaining a steady pace, keeping buyers engaged and sellers motivated in what remains a dynamic market.
Broader national forces are undeniably shaping local real estate trends. Mortgage rates hovering around 7% are cooling some demand as affordability becomes a significant factor for buyers. Meanwhile, the presidential election has injected a layer of uncertainty, causing some individuals to delay major decisions like purchasing or selling a home. These macroeconomic conditions are contributing to a more cautious market environment, yet Baton Rouge’s diverse real estate submarkets continue to show resilience. Indicators such as days on market and list-to-sales ratios suggest that demand is still present, even if tempered.
Looking ahead, November promises to bring additional insights into how these market forces are influencing Baton Rouge’s real estate landscape. For both buyers and sellers, understanding these trends is key to navigating the shifting market with confidence. Stay tuned for the latest updates, expert insights, and actionable advice to make the most of current opportunities in our vibrant communities.
Now, let’s take a look at how the three larger parishes in the Greater Baton Rouge area performed.
Ascension Parish Real Estate
October 2024 in Ascension Parish saw a spike in the median price of detached single-family homes to $335,000. With 95 homes closing in October, the volume also dropped a bit. Out of those homes closed, they were on the market for a median of eighteen days, and the list price-to-sales price ratio was 98.8%. There was also a spike in 114 homes to go under contract.
Currently, 372 homes are on the market, with a median list price of $369,945. This equals a 3.5-month supply of homes in Ascension Parish.
East Baton Rouge Parish Real Estate
October 2024 in East Baton Rouge Parish saw a median price of $270,000 for detached single-family homes. Out of the 282 homes closed in October 2024, they were on the market for a median of thirty-seven days, and the list price-to-sales price ratio held steady at 97.9%. There were 288 homes to go under contract, showing an upward trend.
There are currently 1446 homes on the market, with a median list price of $324,900. This equals a 4.3-month supply of homes in the East Baton Rouge Parish market.
Livingston Parish Real Estate
In October 2024, Livingston Parish saw a median sales price of $249,950 for detached single-family homes. Out of the 143 homes closed in October 2024, they were on the market for a median of twenty days, and the list-to-sales price ratio was 99%! There were 116 homes to go under contract in October 2024.
There are currently 582 detached single-family homes on the market, with a median list price of $276,032. This equals a 4.0-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 November 2024.
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* All data gathered using ROAM MLS as of
November 15, 2024
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