What a year the Baton Rouge Real Estate market for 2020 has been. We have seen record-breaking sales and sales prices since we were released from the stay at home orders due to COVID-19. September started to slow down where pending sales are concerned and that trend continued into October. Not to worry, though, even though sales have slacked off, they are still healthy. There is over 101% of sales compared to new listings when looking at the three larger parishes. Inventory is definitely still a problem.
We broke down the top three Parishes for you to see how the market looks different just 10 miles down the road.
Ascension Parish
Ascension Parish remains the Hot Spot in the market.
October brought 106.7% of the homes sold than what was listed—chipping away at that inventory!
The average sales price for Detached Single Family homes in October 2020 was $294,998 and sellers retained 98.98% of their asking price. The number of days on the market was down to only 47 days. The number of new listings held steady, with 186 homes listed in October 2020. 207 homes sold to make up 106.7% of sales. The seller’s market is healthy, to say the least!
There are currently 321 homes on the market, with an average list price of $356,524. Let’s put that into a clearer perspective. There is a 1.8 month supply of homes on the market in Ascension Parish.
A little more than half of those active homes on the market are four-bedroom homes with an average list price of $398,234. If you can work with a three-bedroom home, the average list price drops tremendously to $274,340.
East Baton Rouge Parish
October brought 95.98% of the homes sold compared to what was listed.
The average sales price of detached single-family homes in October 2020 was $297,630 and sellers retained 97.43% of their asking price. The number of days on the market dropped slightly to 59 days. There was another decrease in listings from last month, with only 485 homes listed in October 2020. 478 of those homes sold to make up 95.98% of sales.
There are currently 1,107 homes on the market, with an average list price of $440,781. Let’s put that into a clearer perspective. There is a 2.5 month supply of homes on the market in East Baton Rouge Parish. This activity keeps the Parish in a Seller’s Market!
Almost half of those active homes on the market are four-bedroom homes with an average list price of $487,403. If you can work with a three-bedroom home, the average list price drops tremendously to $300,894.
Livingston Parish
October brought 108.11% of the homes sold compared to what was listed. Keep your eyes on this Parish because it’s keeping up with Ascension and East Baton Rouge.
The average sales price in October 2020 was $233,133 and sellers retained 99.0% of their asking price. The number of days on the market was up to 62 days. There were 222 detached single-family homes listed in October 2020. 240 homes sold to make up 108.11% of sales.
There are currently 379 detached single-family homes on the market, with an average list price of $286,105. Let’s put that into a clearer perspective. Rivaling Ascension Parish, there is a 1.8 month supply of homes on the market in Livingston Parish. We call that a strong Seller’s Market!
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 November 2020.
* All data gathered using Greater Baton Rouge MLS as of November 3, 2020
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