Home sales in the Baton Rouge-area stalled in September as inventory and listings continued to climb compared to the year before, according to the latest report from the Greater Baton Rouge Association of Realtors.
Last month, there were 886 closed sales in the Baton Rouge-area—the same as September 2018. In East Baton Rouge Parish, sales dropped 8.9%, while sales in Ascension and Livingston parishes rose 4.1% and 25.8%, respectively.
Year-to-date sales in the Baton Rouge-area are also flat, currently sitting at 8,403 sales through September compared to last year’s 8,400.
New listings, meanwhile, climbed 8.6% to 1,146 in the Baton Rouge-area. Despite that, the median sales price continued its ascent trend, rising to $211,643, a 1.3% increase over last year.
Months supply of inventory is holding steady at five months, suggesting the market remains neutral. Days on market increased 7.8% to 69 days.
The data doesn’t show any significant change from recent trends, GBRAR says in a statement, “other than the seasonally-tempered pace we see this time of year.”
“As we move into the final three months of 2019, buyers will find fewer homes coming on the market, but also less competition for these homes,” GBRAR says.