Capital Region home sales rise for sixth straight month

The Baton Rouge metro area saw home sales rise 18.3% in November compared to the same month a year ago, marking the sixth straight monthly increase over 2010, according to figures compiled by the Greater Baton Rouge Association of Realtors. A total of 460 homes were sold in East Baton Rouge, West Baton Rouge, Livingston, Ascension, Iberville, East Feliciana, West Feliciana and Pointe Coupee parishes in November; a year ago the total was 389. November’s total puts year-to-date sales at 6,072, up 2.5% from the 5,923 homes sold through November 2010. It’s a positive sign the market is making a steady recovery, after 2011 started off with five straight months of sales decline. At the end of May, year-to-date home sales were off 16% compared to 2010. The average home sold for considerably less in November than it did on the month a year ago; however, total sales volume to date remains higher this year. The average sale price in November was $173,362, a drop from $208,124 a year ago. Sales volume to date is $1.158 billion, more than the $1.15 billion total through November last year. Read the rest of the Real Estate Weekly newsletter here.