November home sales were down in the greater Baton Rouge area from the previous year, though drawing any conclusions is problematic as fallout from the August 2016 flood continues to skew year-over-year comparisons in the housing market, the Greater Baton Rouge Association of Realtors says.
That said, 780 houses were sold in November, down 16.3% compared to the same month in 2016, according to the GBRAR’s latest commentary. Yet when comparing against November 2015, homes sales were up 17.5%, indicating the market is heading for a strong 2017 finish.
“There was a dramatic increase in closed sales in the fall of 2016, made up of both an actual increase in sales and entry of sales being delayed immediately after the flood,” the GBRAR says.
The return to typical levels from the numbers seen in late 2016 is reflected in the housing statistics in the latter months of last year. Pending sales dropped 13.3% to 727, and new listings were down 5.6% to 961 in November—setting up another drop in year-over-year sales for December, the GBRAR says.
The median sales price of homes, meanwhile, rose to $191,987. But there is some good news for home buyers as the number of houses for sale increased 8.1%, and the number of days on market rose to 56.
Year-over-year home sales were also down in East Baton Rouge Parish, falling 19.3% to 419. Sales were down 41.2% in Livingston Parish while Ascension was a bright spot. Sales were up 9.5% to 161 in November.
Read the full November report for the greater Baton Rouge housing market.
