The summertime lull in Baton Rouge area house sales continued in August, with sales down 1% compared to 2018, with 1,010 homes sold in the nine-parish region last month.
According to statistics released today by the Greater Baton Rouge Association of Realtors, new listings, pending sales and inventory all grew in August compared to the year prior. Prices also increased, with the median sales price going up 3.8% to $207,500. Days on the market increased 15% to 69 days and the monthly supply remained flat at 5 months.
“As many homeowners refinanced their homes to take advantage of declining interest rates, consumer confidence in housing was reported to be at historically high levels,” the report says. “Although the inventory of affordable homes at this point remains largely stable, it is stable at historically low levels, which may continue to push prices higher and affect potential buyers across the U.S.”
Breaking the market down by parish, East Baton Rouge saw home sales fall 8.6% in August to 533 sold. The median sales price in the parish was up, however, by 5.1%. Inventory rose 5.6% and months supply hit 5.2 months. Days on market was up 11.5% to 68 days.
Ascension and Livingston parish real estate performed far better, actually seeing increases in home sales. Ascension sales were up 2.8%, while Livingston was up 17.3%.
Inventory increased by 1.3% in Livingston Parish, falling to 4.8 months supply. Ascension Parish inventory increased 16.6% and months supply fell to 3.7. Read the full report.
