There has been tremendous speculation about what’s really happening in the Baton Rouge real estate market. With the slowdown of the national economy, significant speculation is taking place with regard to the Baton Rouge market.
Opinions range from heading for a 1980s-like crash to an unchanged market. Statistical information from the Baton Rouge Multiple Listing Service indicates market conditions are slowing even though prices are not falling dramatically.
The sales studied were taken from sales recorded with the MLS. I studied the total sales volume, average sale prices and average days on the market in all three parishes [East Baton Rouge, Ascension and Livingston] individually and combined. This information is presented in the grid below.
It is easy to get lost in the numbers. Suffice it to say, prices have not fallen dramatically, although sales volume is down and the average days on the market are up in almost every category. Whether or not prices fall dramatically remains to be seen, but as it takes longer and longer to sell property, it stands to reason that prices might fall. But volume also appears to be decreasing, which means the supply is decreasing. This could allow prices to remain stable and not fall as precipitously as some may project.
The point is: Market conditions in Baton Rouge are slowing with regard to volume and with regard to the time necessary to sell. But pricing does not reflect the precipitous fall, and the Baton Rouge market seems to be fairing significantly better than the rest of the country.
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