Closed home sales in the greater Baton Rouge area were up 5% in June as a total of 1,097 homes in the area sold, up from 1,045 through June of last year, the latest report from the Greater Baton Rouge Association of Realtors says.
The GBRAR released its June housing reports today, noting new listings in the greater Baton Rouge area increased 5.1%, to 1,351, and pending sales were up 15.7%, to 1,077.
Inventory levels in the local market, however, continued to shrink, falling 13.4%, to 3,193 units, and the median home prices rose to $200,0000, up from $195,228.
Nationally, there has been a general slowdown in the home sales across the country, the GBRAR notes.
“There is strong demand for home buying, emphasized by higher prices and multiple offers on homes for sale in many submarkets,” the report says. “As has been the case for month after month—and now year after year—low inventory is the primary culprit for any sales malaises rather than lack of offers.”
The average days on market for a house in Greater Baton Rouge fell to 58 days, from 67, for the same month last year.
See the full June housing reports for the Baton Rouge market, which includes East Baton Rouge, Livingston and Ascension parishes.
