Capital Region home sales rise 4.4% in Nov., on pace to eclipse 2013 totals by year’s end

Boosted by a 4.4% increase in closed sales during November compared to the like month last year, Capital Region home sales are on pace to surpass 2013 totals by the end of the year.

With one month of sales left to report, the eight-parish region has tallied 8,203 closed deals so far this year, according to the latest monthly report from the Greater Baton Rouge Association of Realtors. That’s 2.8% better than year-to-date sales of 7,982 through November last year, and it’s just 483 fewer sales than the 8,690 total recorded for all of 2013. As long as the eight-parish region doesn’t see a significant decline in sales this month compared to sales last December, when there were 553 recorded transactions, the 2014 total should eclipse the 2013 total. The 630 pending sales recorded in November suggests a decline in sales this month isn’t likely. 2013 total home sales were 11% higher than total sales in 2012 of 7,819 homes.

Along with the increase in the number of sales last month, the average sales price also rose; it was up 5% last month to $207,490 from an average sales price of $197,522 a year earlier. And the average number of days a home sat on the market was down 8.2% to 78 days last month from 85 days during November 2013. There were 3,865 homes on the market last month, a decline of 12.7% from last November, when 4,425 homes were listed for sale.

The GBRAR tracks home sales data in East Baton Rouge, Livingston, Ascension, West Baton Rouge, East Feliciana, West Feliciana, Iberville and Pointe Coupee parishes. Access all of GBRAR’s monthly home sales reports. —Steve Sanoski

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