Baton Rouge home prices up in May, inventory down

Baton Rouge was the 98th most-searched real estate market in the United States during May, based on data released today by the National Association of Realtors. The data also shows median list prices in Baton Rouge increased to $177,900, or 1.65%, during the month compared to last year. That’s also slightly more than a 1% climb from April. The national median list price in May was $194,900, a better than 3% increase compared to the month a year ago. Inventory of homes in Baton Rouge leveled out to 3,513 in May, a 16% year-over-year decline. As sharp a drop as that is, national inventory fell at the steeper rate of 20%. The average home on the Baton Rouge market had been listed for 85 days in May, a roughly 4.5% drop from April. The national average was two days fewer, a decline of about 1% from the month previous. To read NAR’s complete May report on all 146 metros it monitors, click here. A summary infographic of the report is also available here.